What's happening
This bill creates a $1,000 state income tax credit for New Yorkers who shelter a homeless person aged 62 or older for at least a year.
Why it matters
Encourages Community-Based Solutions. By offering a tax credit, the bill incentivizes individuals and families to directly assist elderly homeless people, potentially reducing the burden on shelters and state-funded programs.
Targets an Especially Vulnerable Group. The credit is specifically for sheltering homeless persons aged 62 or older, focusing resources on seniors who often face higher health risks and fewer housing options.
Requires Significant Commitment. The benefit is only available if the homeless individual is provided with room and board in the taxpayer’s home for at least one full year, ensuring sustained support rather than short-term or superficial assistance.
Allows Flexibility in Tax Planning. If the credit exceeds the taxpayer’s liability for that year, it can be carried forward to future years, making it more accessible and valuable for those who might not owe enough tax in a single year to use the full credit immediately.
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Who cares
Taxpayers sheltering older homeless people
The bill would offer a $1,000 personal income tax credit per homeless person age 62 or older whom they provide room and board in their home for at least one year.
Homeless people age 62 and older
The bill would create a tax incentive for taxpayers to provide them with room and board in a private home.
Eligible hosts with limited income tax liability
The credit would be capped at their tax liability for the year, but unused amounts could be carried forward to future years.
Headline styles
Tax Credit for Sheltering Seniors
Plain English, a few words. Used as the page title.
Sponsors
3 Co-sponsors
4 Multi-sponsors
History
- Referred to ways and means
- Referred to ways and means
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5710
2019-2020 Regular Sessions
IN ASSEMBLY
February 14, 2019
Introduced by M. of A. ENGLEBRIGHT, CAHILL, RIVERA, BENEDETTO -- Multi- Sponsored by -- M. of A. AUBRY, COOK, PEOPLES-STOKES, PERRY -- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to providing for a credit against personal income tax for sheltering a homeless person sixty-two years of age or older
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 (o-1) to read as follows:
(o-1) Sheltering homeless person credit. (1) For taxable years beginning on or after two thousand nineteen, a taxpayer shall be allowed a credit, to be credited against the tax imposed by this article, after allowance of any other credit provided under this section and any credits permitted under sections six hundred twenty, six hundred twenty-one and six hundred thirty-five of this article. The amount of the credit shall be one thousand dollars for each homeless person sixty-two years of age or older whom the taxpayer shelters in his or her home, providing room and board, during the taxable year, provided that such homeless person shall have been sheltered by the taxpayer for not less than one year.
(2) In no event shall the amount of the credit provided for in this subsection be allowed in excess of the taxpayer's tax for such year. However, if the amount of credit otherwise allowable under this subsection for any taxable year results in such excess amount, any amount of credit not deductible in such taxable year may be carried over to the following year or years and may be deducted from the taxpayer's tax for such year or years.
(3) For purposes of this subsection, "homeless person" shall have the meaning prescribed in subdivision two of section forty-two of the social services law, provided that such person is sixty-two years of age or older.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD09513-01-9
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.