Bill
Bill > S00091
NY S00091
NY S00091Allows an individual taxpayer to claim a credit against their income tax for excess premium paid during the applicable tax year for flood insurance providing coverage on the taxpayer's primary residence; authorizes the commissioner of taxation and finance to promulgate any necessary rules and regulations.
summary
Introduced
01/09/2019
01/09/2019
In Committee
01/08/2020
01/08/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
2019-2020 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to allowing an individual taxpayer to claim a credit against their income tax for excess premium paid during the applicable tax year for flood insurance providing coverage on the taxpayer's primary residence The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill allows an individual taxpayer to claim a credit against their income tax for the excess premium paid during the applicable tax year for flood insurance covering their primary residence. The credit is limited to the amount by which the premium paid exceeds 5% of the taxpayer's adjusted gross income, up to a maximum of $1,250. The bill also authorizes the Commissioner of Taxation and Finance to promulgate any necessary rules and regulations.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS (on 01/08/2020)
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