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NY A05771

Bill

Official Source

Status

Introduced

2/20/2009

Primary Sponsor

James Conte

Click for details

Origin

Assembly

2009-2010 General Assembly

AI Summary

  • Allows New York taxpayers a personal income tax credit for improving or replacing residential septic systems in single to four-family residences located in the state
  • Credits are limited to $500 maximum for system improvements and $1,000 maximum for system replacements, both claimed during the same taxable year the work is completed
  • Each residence is eligible for only one credit regardless of whether the work involves improvement or replacement
  • Unused credits exceeding the taxpayer's tax liability may be carried forward to subsequent tax years
  • Effective January 1, 2010 for taxable years commencing on or after that date

Legislative Description

Establishes a personal income tax credit for the improvement or replacement of an existing residential septic system for single to 4 family residences; such credit shall not exceed $500 for the improvement of such a system and $1000 for the replacement of such a system.

Last Action

held for consideration in ways and means

7/1/2010

Committee Referrals

Ways and Means2/20/2009

Full Bill Text

No bill text available