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NY A00513
Bill
Status
Introduced
1/5/2011
Primary Sponsor
Fred Thiele
Click for details
AI Summary
- Allows a tax credit against New York State tax for removal, permanent closure, or installation of below-ground or aboveground residential fuel oil storage tanks used for heating fuel in single to four-family homes
- Credit amount equals the cost of removal or permanent closure, not to exceed $500 per residence
- Each residence is eligible for the credit only once
- Unused credit may be carried forward to subsequent tax years if it exceeds the taxpayer's tax liability in the current year
- Effective on January 1st following enactment for taxable years beginning after that date
Legislative Description
Establishes a tax credit for the removal or permanent enclosure of a residential fuel oil storage tank.
Last Action
held for consideration in ways and means
6/19/2012
Committee Referrals
Ways and Means1/5/2011
Full Bill Text
No bill text available