BILL NUMBER: S576
SPONSOR: HELMING
 
TITLE OF BILL:
An act to amend the tax law, in relation to establishing a manufactured
housing tax credit
 
PURPOSE OR GENERAL IDEA OF BILL:
To provide a tax credit for individuals or businesses installing new
manufactured homes.
 
SUMMARY OF SPECIFIC PROVISIONS:
Sections 1: Amends the tax law by adding a new section 50. This section
establishes the manufactured housing tax credit. The credit will be
worth up to two thousand dollars for each new manufactured home
installed for which a certificate of occupancy has been issued between
1/1/2025 and 12/31/2031and can be applied against a business's corpo-
ration tax or an individual's personal income tax.
Section 2: Section 210-b of the tax law is amended by adding a new
subdivision 61. This subdivision establishes that a taxpayer will be
allowed a credit of up to two thousand dollars for each new manufactured
home installed for which a certificate of occupancy has been issued
between 1/1/2025 and 12/31/2031.
Section 3: Section 606of the tax law is amended by adding a new
subsection (bbb). This subsection establishes that a taxpayer will be
allowed a credit of up to two thousand dollars for each new manufactured
home installed for which a certificate of occupancy has been issued
between 1/1/2025 and 12/31/2031.
Section 4: Provides an immediate effective date.
 
JUSTIFICATION:
Manufactured homes provide some of the most affordable opportunities for
homeownership in New York, particularly in our rural communities. These
homes can play a pivotal role in addressing the state's housing crisis
and alleviating the shortage of affordable, attainable housing in New
York.
According to a Rural Housing Coalition report issued in June 2023, there
are 192,890 manufactured housing units in New York State, making up 2.4%
of the state's total housing stock. In rural areas, that percentage
jumps to 10.3% of housing stock, or more than 100,000 manufactured hous-
ing units.
Manufactured homes are a much more affordable alternative to traditional
homes. In 2022, the average sale price of a manufactured home in New
York State was $122,100. In the same year, the average sales price of a
traditional home in New York was $523,111.
Given the current lack of affordable housing options in New York State,
especially in rural areas, New York State should take steps to incentiv-
ize an increase in manufactured home installation and the expansion of
our manufactured home communities.
This legislation would provide a tax credit of $2,000, applicable to
corporation or personal income tax, for individuals and businesses that
install a new manufactured home for which a certificate of occupancy is
issued. This will incentivize individuals and businesses to install more
manufactured homes to meet the demand for affordable housing and allow
more New Yorkers to achieve homeownership. It will also provide an
incentive for manufactured home community owners to replace dilapidated
or outdated homes with new, higher quality options.
 
PRIOR LEGISLATIVE HISTORY:
2023-2024: S.8458 referred to Investigations and Government Operations
 
FISCAL IMPLICATIONS:
To be determined.
 
EFFECTIVE DATE:
This act shall take effect immediately.

Statutes affected:
S576: 210-B tax law, 606 tax law