Loading chat...
NY A07003
Bill
Status
3/18/2009
Primary Sponsor
Joseph Saladino
Click for details
AI Summary
-
Allows taxpayers a credit against personal income taxes for costs of removing or permanently closing an existing unprotected residential fuel oil storage tank and installing a new tank in single to four-family residences in New York State
-
Credit amount equals the combined costs of removal/permanent closure and purchase/installation of the new tank, capped at five hundred dollars
-
Credit may only be claimed once per residence
-
Unused credit amounts may be carried forward to subsequent tax years and applied against future tax liability
-
Provision effective April 1, 2009 through December 31, 2013, applicable to taxable years 2009-2013 for tanks removed or closed after March 31, 2009
Legislative Description
Establishes a residential fuel oil storage tank credit for the removal or permanent closure and installation of below or above ground fuel oil tank used to provide heating fuel for single to four family residence.
Last Action
held for consideration in ways and means
7/1/2010