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

  
  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.