New York A 7478: Relates to insurance coverage of in vitro fertilization and other fertility preservation treatments

Bill Text

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A07478 Summary:

BILL NOA07478 

&nbsp

SAME ASSAME AS S00851

&nbsp

SPONSORNovakhov

&nbsp

COSPNSRFitzpatrick

&nbsp

MLTSPNSR

&nbsp

Add §50, amd §§210-B & 606, Tax L

&nbsp

Establishes a housing infrastructure tax credit to provide a credit of up to ten percent of costs for infrastructure projects related to the construction of new homes or multiple dwellings commenced and completed within a specific time period.

Go to top A07478 Actions:

BILL NOA07478 

&nbsp

03/28/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA07478 Committee&nbspVotes:

Go to topA07478 Floor&nbspVotes:

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

Go to topA07478 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7478

 2025-2026 Regular Sessions

 IN ASSEMBLY

 March 28, 2025
 ___________

 Introduced by M. of A. NOVAKHOV, FITZPATRICK -- read once and referred
 to the Committee on Ways and Means

 AN ACT to amend the tax law, in relation to establishing a housing
 infrastructure tax credit

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

 1 Section 1. The tax law is amended by adding a new section 50 to read
 2 as follows:
 3 § 50. Housing infrastructure tax credit. A taxpayer subject to tax
 4 under article nine-A or article twenty-two of this chapter shall be
 5 allowed a credit of up to ten percent of costs for infrastructure
 6 projects, including but not limited to electric lines, gas lines, sewer
 7 lines, septic systems, water lines, or wells, related to the
 8 construction of new homes or multiple dwellings commenced on or after
 9 January first, two thousand twenty-six, and completed on or before
 10 December thirtieth, two thousand thirty-one.
 11 § 2. Section 210-B of the tax law is amended by adding a new subdivi-
 12 sion 61 to read as follows:
 13 61. A taxpayer shall be allowed a credit of up to ten percent of costs
 14 for infrastructure projects, including but not limited to electric
 15 lines, gas lines, sewer lines, septic systems, water lines, or wells,
 16 related to the construction of new homes or multiple dwellings commenced
 17 on or after January first, two thousand twenty-six, and completed on or
 18 before December thirtieth, two thousand thirty-one.
 19 § 3. Section 606 of the tax law is amended by adding a new subsection
 20 (bbb) to read as follows:
 21 (bbb) A taxpayer shall be allowed a credit of up to ten percent of
 22 costs for infrastructure projects, including but not limited to electric
 23 lines, gas lines, sewer lines, septic systems, water lines, or wells,
 24 related to the construction of new homes or multiple dwellings commenced
 25 on or after January first, two thousand twenty-six, and completed on or
 26 before December thirtieth, two thousand thirty-one.
 27 § 4. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01069-01-5

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