New York A 4955: Establishes a tax credit for homeowners and businesses to build permeable surfaces

Bill Text

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A04955 Summary:

BILL NOA04955 

&nbsp

SAME ASNo Same As

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SPONSORStirpe

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COSPNSRLupardo, Magnarelli, Simon

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MLTSPNSR

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Amd §606, Tax L

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Establishes a tax credit for homeowners and businesses to build permeable surfaces.

Go to top A04955 Actions:

BILL NOA04955 

&nbsp

02/10/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA04955 Committee&nbspVotes:

Go to topA04955 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA04955 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4955

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 10, 2025
 ___________

 Introduced by M. of A. STIRPE, LUPARDO, MAGNARELLI, SIMON -- read once
 and referred to the Committee on Ways and Means

 AN ACT to amend the tax law, in relation to credits against tax for
 homeowners and businesses to build permeable surfaces

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 606 of the tax law is amended by adding a new
 2 subsection (qqq) to read as follows:
 3 (qqq) Credit for homeowners and businesses to build permeable
 4 surfaces. (1)(a) Homeowners who construct a permeable surface as part of
 5 their real property, during the taxable year, shall be eligible to
 6 receive a tax credit for up to fifty percent of the cost of
 7 construction, not exceeding five thousand dollars.
 8 (b) For purposes of this subsection the following definitions shall
 9 apply:
 10 (i) Homeowner is defined as a New York resident for the past twenty-
 11 four months and who owns a single family or multi-family dwelling for
 12 residential purposes within New York state.
 13 (ii) Permeable surface, shall mean any permeable paving that allows
 14 the movement of water and air around the paving materials. A permeable
 15 surface shall include but not be limited to: sidewalks, driveways and
 16 parking lots.
 17 (2)(a) Businesses who construct a permeable surface adjacent to or
 18 within one thousand feet of the property, during the taxable year, shall
 19 be eligible to receive a tax credit for up to fifty percent of the cost
 20 of construction, not exceeding five thousand dollars.
 21 (b) For purposes of this subsection the following definitions shall
 22 apply:
 23 (i) Business shall mean any business whose principal place of business
 24 is located in New York state, and has been located in the state for the
 25 previous thirty-six months.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD03698-01-5

 A. 4955 2

 1 (ii) Permeable surface, shall mean any permeable paving that allows
 2 the movement of water and air around the paving materials. A permeable
 3 surface shall include but not be limited to: sidewalks, driveways and
 4 parking lots.
 5 § 2. This act shall take effect immediately and shall apply to taxable
 6 years commencing on and after such date.

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