Enacts "Averyana's law"; provides a tax credit for the purchase and installation of certain smoke alarms which incorporate photoelectric technology including but not limited to: photoelectric detectors; and photoelectric/carbon monoxide detectors.
Summary
Bill S03470, known as "Averyana's law," proposes to amend the New York tax law to provide a tax credit for residents who purchase and install smoke alarms that utilize photoelectric technology. This includes photoelectric detectors and photoelectric/carbon monoxide detectors. The intent of the bill is to enhance fire safety in residential properties by encouraging homeowners to invest in advanced smoke alarm systems that are more effective in detecting smoke and carbon monoxide, thereby potentially reducing the risk of fire-related incidents and improving overall safety in homes.
Impact
If enacted, Averyana's law will create a new subsection in the tax law that allows homeowners to claim a tax credit for the costs associated with the purchase and installation of specified smoke alarm technologies. This change will directly impact the state's tax revenue by providing financial incentives for homeowners, which may lead to increased safety measures in residential properties across New York. The law will apply to taxable years beginning on or after January 1, 2025, thereby affecting future tax filings for residents who take advantage of this credit.
Sentiment
The sentiment surrounding Bill S03470 appears to be positive, as it aims to improve public safety through enhanced fire detection technology. There have been no recorded votes or significant opposition noted in the committee discussions, suggesting a general agreement on the bill's intent and potential benefits. Supporters likely view this as a proactive measure to protect residents, especially in light of increasing awareness of fire safety.
Contention
While there are no notable points of contention currently documented in the discussions or voting history, potential concerns could arise regarding the financial implications for the state budget due to the tax credits. Additionally, there may be discussions about the effectiveness and accessibility of the recommended smoke alarm technologies, as well as the potential for ensuring that all homeowners can afford to install these devices, particularly in lower-income areas.
Same As
Enacts "Averyana's law"; provides a tax credit for the purchase and installation of certain smoke alarms which incorporate photoelectric technology including but not limited to: photoelectric detectors; and photoelectric/carbon monoxide detectors.
Enacts "Averyana's law"; provides a tax credit for the purchase and installation of certain smoke alarms which incorporate photoelectric technology including but not limited to: photoelectric detectors; dual photoelectric/ionization detectors; and photoelectric/carbon monoxide detectors.
Enacts "Averyana's law"; provides a tax credit for the purchase and installation of certain smoke alarms which incorporate photoelectric technology including but not limited to: photoelectric detectors; and photoelectric/carbon monoxide detectors.
Requiring carbon monoxide detectors in child care centers and schools, grants for placing carbon monoxide detectors in schools, and making an appropriation. (FE)
Requiring carbon monoxide detectors in child care centers and schools, grants for placing carbon monoxide detectors in schools, and making an appropriation. (FE)