What's happening
This bill requires the state to define shoreline resiliency projects and creates a tax credit for related improvements to mitigate flooding.
Why it matters
Establishes clear standards for shoreline resiliency projects. , requiring the Department of Environmental Conservation to define and publicize which types of infrastructure are eligible, potentially ensuring funds and tax credits support effective, science-based flood prevention measures.
Creates a financial incentive for property owners—including homeowners, businesses, farmers, and non-profits—to invest in flood mitigation. , by offering a tax credit worth 25% of the costs (up to $10,000 per year), which could make significant upgrades more affordable and widespread.
Allows for unused tax credits to be carried forward into future tax years. , making it easier for individuals and organizations to undertake larger, multi-year projects without losing out on financial benefits if their tax liability is too low in a single year.
Links tax benefits explicitly to projects approved by the Department of Environmental Conservation. , which may help prevent misuse or ineffective spending, but could also mean that only projects meeting specific state criteria will qualify, potentially limiting flexibility for some property owners.
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Who cares
Headline styles
Shoreline Flood Barriers Tax Credit
Plain English, a few words. Used as the page title.
Sponsors
2 Co-sponsors
History
- Referred to environmental conservation
- Referred to environmental conservation
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
282
2019-2020 Regular Sessions
IN SENATE (Prefiled)
January 9, 2019
Introduced by Sen. ORTT -- read twice and ordered printed, and when printed to be committed to the Committee on Environmental Conservation
AN ACT to amend the environmental conservation law and the tax law, in relation to shoreline resiliency infrastructure regulations and tax credits
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The environmental conservation law is amended by adding a new section 3-0321 to read as follows: § 3-0321. Shoreline resiliency infrastructure.
The department shall, no later than January first, two thousand twenty, develop, adopt and promulgate rules and regulations describing shoreline resiliency infrastructure projects approved for use by home owners, businesses, farmers and non-profits. These shoreline resiliency infrastructure projects shall be preventive measures that could be taken to mitigate the impact of future flooding. The department shall include descriptions of approved shoreline resiliency infrastructure projects on the department's website.
§ 2. Section 210-B of the tax law is amended by adding a new subdivision 53 to read as follows:
53. Shoreline resiliency infrastructure tax credit. (a) For taxable years beginning on or after January first, two thousand twenty, a taxpayer shall be allowed a credit as hereinafter provided, against the tax imposed by this article, in an amount equal to twenty-five percent of the costs of shoreline resiliency infrastructure improvements made. Provided, however, the credit shall not exceed ten thousand dollars in a given year.
(b) Tax credits allowed pursuant to this subdivision shall be allowed in the taxable year in which the expenditures were made.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02699-01-9
S. 282 2
(c) If the amount of the credit allowable under this subdivision for any taxable year shall exceed the taxpayer's tax for such year, the excess may be carried over to the following year or years, and may be applied against the taxpayer's tax for such year or years.
(d) The term "approved shoreline resiliency infrastructure improvements" shall refer to shoreline resiliency infrastructure improvements that have been approved by the department of environmental conservation pursuant to section 3-0321 of the environmental conservation law.
§ 3. Section 606 of the tax law is amended by adding a new subsection (jjj) to read as follows:
(jjj) Shoreline resiliency infrastructure tax credit. (1) For taxable years beginning on or after January first, two thousand twenty, a taxpayer shall be allowed a credit as hereinafter provided, against the tax imposed by this article, in an amount equal to twenty-five percent of the costs of shoreline resiliency infrastructure improvements made. Provided, however, the credit shall not exceed ten thousand dollars in a given year.
(2) Tax credits allowed pursuant to this subsection shall be allowed in the taxable year in which the expenditures were made.
(3) If the amount of the credit allowable under this subsection for any taxable year shall exceed the taxpayer's tax for such year, the excess may be carried over to the following year or years, and may be applied against the taxpayer's tax for such year or years.
(4) The term "approved shoreline resiliency infrastructure improvements" shall refer to shoreline resiliency infrastructure improvements that have been approved by the department of environmental conservation pursuant to section 3-0321 of the environmental conservation law.
§ 4. Subparagraph (B) of paragraph 1 of subsection (i) of section 606 of the tax law is amended by adding a new clause (xliv) to read as follows:
(xliv) Shoreline resiliency Amount of credit under
infrastructure tax credit subdivision fifty-three of
under subsection (jjj) section two hundred ten-B
§ 5. This act shall take effect immediately and sections two, three and four shall apply to taxable years beginning on or after January 1, 2020.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the environmental conservation law and the tax law, in relation to shoreline resiliency infrastructure regulations and tax credits
Purpose
To require DEC to promulgate rules and regulations describing shoreline resiliency infrastructure projects approved for use by homeowners, busi- nesses, farmers and not-for-profits. Creates a twenty-five percent tax credit up to a maximum of $10,000 for the installation of projects on this approved list.
Summary of provisions
Section 1 adds a new Section 3-0321 to the Environmental Conservation Law to require the DEC to promulgate rules and regulations describing shoreline resiliency infrastructure projects approved for use by home- owners, businesses, farmers and not-for-profits.
Section 2 adds a new subdivision 210-B of the tax law to create a twen- ty-five percent tax credit up to a maximum of $10,000 for the' installa- tion of projects on this approved list.
Section 3 adds a new subsection to Section 606 of the tax law to create a twenty-five percent tax credit up to a maximum of $10,000 for the installation of projects on this approved list.
Section 4 adds a new Subparagraph to Section 606 of the tax law to create a twenty-five percent tax credit up to a maximum of $10,000 for the installation of projects on this approved list.
Section 5 is the effective date.
Justification
With Lake Ontario flooding causing catastrophic damage to homeowners, businesses, farmers and not-for-profits on the shoreline, the State must be looking both at assisting these individuals in their efforts to rebuild, but also assisting them in proactively installing approved shoreline resiliency projects to protect their investments from damage. This legislation would assist homeowners from in deeply impacted areas across the State by giving them a financial incentive and relief to proactively address the issues of flooding.
Legislative history
S. 6535A of 2017/2018 Passed Senate.
Fiscal implications
To be determined.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.