Bill
Bill > A08639
summary
Introduced
01/10/2022
01/10/2022
In Committee
01/10/2022
01/10/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to providing tax credits for the installation of fire sprinkler systems
AI Summary
This bill provides a tax credit for residential property owners who install fire sprinkler systems in municipalities that do not already require such systems. The credit is equal to 25% of the cost of labor and materials for installing the sprinkler system. If the credit amount exceeds the taxpayer's tax liability for the year, the excess will be treated as an overpayment and refunded, though no interest will be paid on the refund.
Committee Categories
Budget and Finance
Sponsors (14)
Jessica González-Rojas (D)*,
Peter Abbate (D),
Khaleel Anderson (D),
Kevin Byrne (R),
William Colton (D),
Manny De Los Santos (D),
Aileen Gunther (D),
Jonathan Jacobson (D),
Mike Norris (R),
Rebecca Seawright (D),
Jo Anne Simon (D),
Yudelka Tapia (D),
Fred Thiele (D),
Monica Wallace (D),
Last Action
referred to ways and means (on 01/10/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2021/A8639 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A08639&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A08639 |
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