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NY A00569
Bill
Status
Introduced
1/9/2013
Primary Sponsor
Jeffrey Dinowitz
Click for details
AI Summary
- Establishes a tax credit for condominium and cooperative housing owners in New York State who purchase and install electrical outlets for charging electric cars in parking garages
- Credit equals 55 percent of expenditure costs with a maximum credit of $5,000 per taxpayer for taxable years beginning January 1, 2014 through December 31, 2018
- Allows condominium members and cooperative tenant-stockholders to claim a proportionate share of total installation expenses attributable to their principal residence
- Reduces the state credit when federal income tax credits apply to the same expenditures, ensuring combined credits do not exceed 55 percent of expenses or $7,000, whichever is less
- Allows excess credits to carry over to subsequent tax years and excludes federal, state, or local grants from the calculation of actual expenditures
Legislative Description
Establishes a tax credit for the installation of electrical outlets for charging electric cars in certain parking garages owned by condominium management associations or a cooperative housing corporations.
Last Action
held for consideration in ways and means
6/17/2014
Committee Referrals
Ways and Means1/9/2013
Full Bill Text
No bill text available