Bill > S01615

This bill enacts the "Residential Structure Fire Prevention Act of 2023" and includes several key provisions: 1. It provides a tax credit of up to $5,000 for homeowners who remove "cock lofts" (a completely enclosed space between rafters and a suspended ceiling) that pose fire hazards in their homes. 2. It requires insurance companies to offer actuarially appropriate discounts on fire insurance premiums or the fire insurance component of homeowners' insurance premiums for residential properties equipped with smoke detecting alarm devices in cock lofts. 3. It mandates that state housing programs include the repair of cock lofts for fire prevention and safety as a qualifying expenditure. The bill aims to incentivize and facilitate the removal of a specific fire hazard (cock lofts) and the installation of smoke detectors in these spaces to improve residential fire safety across New York.