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NY A05333
Bill
Status
Vetoed
12/21/2018
Primary Sponsor
David Weprin
Click for details
AI Summary
- Establishes a tax credit equal to 30 percent of qualified improvement costs for taxpayers making accessibility modifications to their primary residence, effective for tax years beginning January 1, 2019
- Limits the lifetime credit to $5,000 per dwelling for qualified improvements including no-step entrances, 32-inch interior passage doors, bathroom grab bar reinforcements, and accessible light switches and outlets
- Allows unused credits to carry over to subsequent tax years if the annual credit exceeds the taxpayer's tax liability
- Caps total credits at $1 million per year, allocated by the Department of Taxation and Finance on a first-come, first-served basis based on filing date
- Reduces credit amounts proportionally for taxpayers occupying the dwelling as primary residence for only part of the tax year
Legislative Description
Creates a disabled person retrofit tax credit.
Last Action
tabled
12/21/2018
Committee Referrals
Investigations and Government Operations5/30/2018
Rules5/22/2017
Ways and Means2/8/2017
Full Bill Text
No bill text available