What's happening
This bill creates a tax credit for homeowners with incomes under $250,000 to offset costs of repairing, replacing, or installing sump pumps.
Why it matters
Targets flood prevention and home safety. By incentivizing sump pump installation and repair, the bill aims to reduce basement flooding, water damage, and related health hazards (like mold) for middle- and lower-income homeowners, especially in flood-prone areas.
Eases financial burden for essential home maintenance. Covering 50% of eligible costs (including labor, plumber assessments, and cleanup, but not sales tax), the credit makes it more affordable for households earning under $250,000 to maintain or upgrade necessary infrastructure.
Statewide impact is capped. The bill limits total annual credits to $5 million statewide, which may require prioritization or pro-rating of credits if demand exceeds this cap, potentially affecting how many households benefit each year.
Encourages professional and verified repairs. To qualify, work must be recommended by a certified plumber or municipality, helping ensure that funds go toward legitimate, needed repairs and installations rather than unnecessary or fraudulent claims.
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Who cares
Headline styles
Give Sump Pump Tax Credit
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to ways and means
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Sump Pump Tax Credit
In Senate Committee · Investigations And Government Operations · Sponsor Timothy M. Kennedy
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
9624
IN ASSEMBLY
January 26, 2018
Introduced by M. of A. WALLACE -- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to establishing a sump pump installation and replacement credit
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 606 of the tax law is amended by adding a new subsection (ccc) to read as follows:
(ccc) Sump pump installation and replacement credit. (1) General. An individual taxpayer shall be allowed a credit for taxable years beginning on or after January first, two thousand nineteen against the tax imposed by this article for the costs replacement, repair or installation of a sump pump, when such repair, replacement, or installation is recommended by a certified plumber or municipality. The amount of the credit shall be fifty percent of the total cost of replacement, repair, or installation.
(2) Sump pump replacement, repair and installation costs. (A) The term "costs of replacement, repair or installation" includes the cost of an assessment from a plumber, any initial appraisals, labor costs, any disposal fees, and any cleanup fees; except any state or local sales tax applicable to the services performed. (B) The term "costs of repair" includes the cost of an assessment from a plumber, any initial appraisals, labor costs, any disposal fees, and follow-up fees; except any state or local sales tax applicable to the services.
(3) Amount of credit. The aggregate amount of tax credits allowed under this subsection in any calendar year statewide shall be five million dollars.
(4) Installation and repair for qualified taxpayers. A property owner who incurs costs for repair or replacement of a sump pump must be doing so on a residential or mixed use property which is:
(A) located in the state;
(B) owned by the taxpayer;
(C) used by the taxpayer as his or her principal residence; and
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14014-01-7
A. 9624 2
(D) owned by a taxpayer with a household income of less than two hundred fifty thousand dollars.
(5) When credit is allowed. The credit provided for in this subsection shall be allowed with respect to the taxable year, commencing after January first, two thousand nineteen in which the work is completed and paid for.
(6) Carryover credit. If the amount of the credit, and carryovers of such credit, allowable under this subsection for any taxable year shall exceed the taxpayer's tax for such year, such excess amount may be carried over to the five taxable years next following the taxable year with respect to which the credit is allowed and may be deducted from the taxpayer's tax for such year or years.
§ 2. This act shall take effect immediately and shall apply to taxable years commencing on or after such effective date.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.