What's happening
This bill creates a temporary tax credit for New Yorkers who buy or retrofit homes to meet universal visitability standards between 2020 and 2024.
Why it matters
Makes homes more accessible. By incentivizing universal visitability features (such as step-free entrances and accessible bathrooms), the bill encourages construction and renovation practices that make homes usable for people of all ages and abilities, benefiting aging residents, people with disabilities, and visitors.
Targets owner-occupied residences. The tax credit is only available for principal residences, not rental properties, focusing the benefit on homeowners rather than landlords and ensuring accessibility improvements are made where residents have long-term stakes.
Limited, first-come-first-served funding. With an annual statewide cap of $1 million, credits are distributed in the order applications are received, potentially creating competition and urgency among homeowners to apply early, and possibly leaving some applicants without credits if the cap is hit.
Creates accountability and oversight. The Department of State is tasked with certifying eligibility, setting detailed application standards, and publishing annual public reports evaluating the credit's effectiveness, which could inform future accessibility policy or program adjustments.
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Who cares
Headline styles
Tax Credit for Accessible Homes
Plain English, a few words. Used as the page title.
Sponsors
Senator · Senate District 7
No co-sponsors yet.
History
- Substituted by A2493
- Ordered to third reading cal.997
- Committee discharged and committed to rules
- Reported and committed to rules
- Reported and committed to finance
- Referred to budget and revenue
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.
Tax Credit for Accessible Homes
Vetoed · Sponsor Charles Lavine
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2424
2019-2020 Regular Sessions
IN SENATE
January 24, 2019
Introduced by Sen. KAPLAN -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue
AN ACT to amend the tax law, in relation to providing a tax credit for universal visitability; and providing for the repeal of such provisions upon expiration thereof
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 (jjj) to read as follows:
(jjj) Universal visitability tax credit. (1) For taxable years beginning on or after January first, two thousand twenty, until December thirty-first, two thousand twenty-four, a taxpayer shall be allowed a credit against the tax imposed by this article for a portion of the total purchase price paid by such taxpayer for a principal residence attributable to universal visitability or the total amount expended by a taxpayer to retrofit an existing principal residence to achieve universal visitability provided that the principal residence or the retrofitting of the existing principal residence is located within this state and designed to provide universal visitability as defined through the eligibility requirements established by guidelines developed by the division of code enforcement and administration within the department of state. For the purpose of this subsection, principal residence shall mean such residence pursuant to section one hundred twenty-one of the internal revenue code.
(2) The credit shall be allowed for the taxable year in which the principal residence has been purchased or constructed, or the retrofitting or renovation of the residence or residential unit has been completed, or the year of allocation to the taxpayer as provided in paragraph seven of this subsection. The credit allowed under this subsection shall not exceed (A) twenty-seven hundred fifty dollars for the purchase of a new residence, or (B) fifty percent of the total amount expended, but not to exceed twenty-seven hundred fifty dollars for the retrofitting or renovation of each existing residence or unit.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04612-01-9
S. 2424 2
(3) No credit shall be allowed under this subsection for the purchase, retrofitting or renovation of residential rental property.
(4) The credit shall be allowed under this subsection only for universal visitability improvements made by or at the direction of the taxpayer.
(5) If the amount of the credit allowable under this subsection shall exceed the taxpayer's tax for such year, the excess may be carried over to the following year or years and may be deducted from the taxpayer's tax for such year or years.
(6) Eligible taxpayers shall apply for the credit through the division of code enforcement and administration within the department of state. The division of code enforcement and administration within the department of state shall issue a certification for an approved application to the taxpayer that states the amount of the credit allocated to the taxpayer and the allocation year.
(7) (A) The aggregate amount of tax credits allowed pursuant to the authority of this subsection shall be one million dollars each year during the period two thousand twenty through two thousand twenty-four. Such aggregate amounts of credits shall be allocated by the department of state among taxpayers in order of priority based upon the date of filing an application for allocation of credit with the division of code enforcement and administration. If the total amount of allocated credits applied for in any particular year exceeds the aggregate amount of tax credits allowed for such year under this subsection, such excess shall be treated as having been applied for on the first day of the subsequent year.
(B) The secretary of state, after consulting with the commissioner, shall promulgate regulations by October thirty-first, two thousand nineteen to establish procedures for the allocation of tax credits as required by this subparagraph. Such rules and regulations shall include provisions describing the application process, the due dates for such applications, the standards which shall be used to evaluate the applications, the documentation that will be provided to taxpayers to substantiate to the department the amount of tax credits allocated to such taxpayers, and such other provisions as deemed necessary and appropriate. Notwithstanding any other provisions to the contrary in the state administrative procedure act, such rules and regulations may be adopted on an emergency basis if necessary to meet such October thirty-first, two thousand nineteen deadline.
(8) The department of state shall submit to the governor, the temporary president of the senate, and the speaker of the assembly, an annual report to be submitted by February first of each year evaluating the effectiveness of the universal visitability tax credit provided by this subsection. Such report shall be based on data available from the application filed with the division of code enforcement and administration for universal visitability credits. Notwithstanding any provision of law to the contrary, the information contained in the report shall be public information. The report may also include any recommendations of changes in the calculation or administration of the credit, and any other recommendation of the commissioner of the department of state or the division of code enforcement and administration regarding continuing modification, repeal of such act, and such other information regarding the act as the division may feel useful and appropriate.
§ 2. This act shall take effect immediately and shall apply to taxable years commencing on and after January 1, 2020 and shall expire and be deemed repealed December 31, 2024.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the tax law, in relation to providing a tax credit for universal visitability; and providing for the repeal of such provisions upon expiration thereof
Purpose
To allow a tax credit for either new or retrofitted principal residences which are universally designed to be accessible and adaptable housing.
Summary of specific provisions
This bill amends section 606 of the tax law by adding a new subsection (ccc) which would provide a one-time tax credit for a newly constructed principal residence not to exceed $2,750 or for a renovated principal residence of 50% of the amount expended, not to exceed $2,750, for universal visitability. Eligibility requirements for universal visita- bility would be established through guidelines by the Department of State Division of Code Enforcement and Administration. This credit would be effective beginning January 1, 2020 until December 31, 2024.
Justification
This legislation provides a positive incentive for universal design changes to create accessible and adaptable housing which is important to allow individuals to age in place. Universal design changes make resi- dences accessible and user friendly for senior citizens and others with limited mobility. By providing seniors with the opportunity to age in place, this may save some of the costs associated with assisted living or nursing homes. This bill would provide and alternative for many seniors who are able to remain in place with universal design changes. It also will assist in building an inventory of residence which will have universal design to ensure accessibility. The use of a tax credit provides and incentive rather than a mandated approach.
Prior legislative history
A. 10668 of 2018; Passed Assembly. S.2411A/A.5950A - 2017; Passed both houses and Vetoed by Governor. S.6943A/A.9303B - 2016; S.2967A/A.1276 - 2015 Passed both houses and Vetoed by Governor.
Fiscal implications
The total credit amount provided by the state will be capped at $1 million.
Effective date
This act shall take effect immediately and shall apply, to:taxable years commencing on and after January 1, 2020 and shall expire and be deemed repealed December 31, 2024.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.