Bill
Bill > A07375
summary
Introduced
04/25/2017
04/25/2017
In Committee
01/03/2018
01/03/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
2017-2018 General Assembly
Bill Summary
AN ACT to amend the tax law, in relation to establishing a tree removal and emerald ash elimination credit The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill establishes a tax credit for New York state individual taxpayers to cover the costs of removing trees infested with the Emerald Ash Borer or treating them with insecticide injections. The credit amount is the lesser of $300 per tree or 50% of the total removal cost, and the lesser of $100 per tree or 50% of the total treatment cost. The total statewide tax credits allowed in a calendar year is capped at $25 million. To qualify, the tree must be located on the taxpayer's residential, secondary, or rental property in New York. The credit can be claimed for the tax year in which the removal or treatment was completed and paid for, and any excess credit can be carried forward for up to 5 years.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
referred to ways and means (on 01/03/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
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