Bill > A01850

This bill establishes a new tax credit for New York state taxpayers who have incurred expenses replacing personal property damaged by bedbug infestations. The credit will allow individuals to claim 15% of their qualified replacement expenditures, with a maximum credit of $750. Qualified expenditures include replacing items like furniture, rugs, and other home goods that have been damaged by bedbugs, but do not include interest or finance charges related to those purchases. The state tax commissioner will develop the specific procedures for certifying and claiming this credit. The tax credit will apply to taxable years beginning on or after January 1st following the bill's enactment. This legislation aims to provide financial relief to individuals who face significant expenses when dealing with bedbug damage, recognizing the potentially substantial cost of replacing infected household items.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A1850