S T A T E   O F   N E W   Y O R K
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                                   328

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced by M. of A. HAWLEY, KOLB, BARCLAY -- Multi-Sponsored by -- M.
  of A. TENNEY, WEISENBERG -- read once and referred to the Committee on
  Ways and Means

AN  ACT  to  amend the tax law, in relation to providing a tax credit in
  the amount of certain fees charged in connection with loans under  the
  federal  home  loan  guarantee  program  to national guard and reserve
  veterans

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Section  606  of  the  tax law is amended by adding a new
subsection (aaa) to read as follows:
  (AAA) CREDIT FOR CERTAIN FEES PAID TO THE FEDERAL HOME  LOAN  MORTGAGE
CORPORATION.  1.  AN ELIGIBLE TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST
THE TAX IMPOSED BY THIS ARTICLE WHICH IS EQUAL TO THE THREE-QUARTERS  OF
ONE  PERCENT DIFFERENCE BETWEEN FEES CHARGED TO VETERANS OF THE NATIONAL
GUARD OR ARMED FORCES RESERVES AND THE SAME  FEES  CHARGED  TO  ELIGIBLE
ACTIVE DUTY VETERANS, UNDER LOAN OR LOAN GUARANTEE PROGRAMS ADMINISTERED
OR  FUNDED  BY  THE  FEDERAL  HOME  LOAN  MORTGAGE  CORPORATION. FOR THE
PURPOSES OF THIS SECTION AN ELIGIBLE TAXPAYER SHALL BE A VETERAN OF  THE
NEW YORK NATIONAL GUARD OR MILITARY RESERVE.
  2.  FOR PURPOSES OF THIS SUBSECTION, "VETERAN" SHALL MEAN A PERSON WHO
SERVED IN THE ACTIVE MILITARY, NAVAL, OR AIR SERVICE DURING A PERIOD  OF
WAR,  OR  WHO  WAS  A RECIPIENT OF THE ARMED FORCES EXPEDITIONARY MEDAL,
NAVY EXPEDITIONARY MEDAL, MARINE CORPS EXPEDITIONARY  MEDAL,  OR  GLOBAL
WAR ON TERRORISM EXPEDITIONARY MEDAL, AND WHO WAS DISCHARGED OR RELEASED
THEREFROM UNDER HONORABLE CONDITIONS.
  3.  FOR  THE PURPOSES OF THIS SUBSECTION, "SERVICE DURING TIME OF WAR"
SHALL MEAN:
  (I) THE INDIVIDUAL IN QUESTION WAS A RECIPIENT  OF  THE  ARMED  FORCES
EXPEDITIONARY  MEDAL,  THE  NAVY EXPEDITIONARY MEDAL OR THE MARINE CORPS

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

                                                           LBD00197-01-3

A. 328                              2

EXPEDITIONARY MEDAL FOR PARTICIPATION IN OPERATIONS IN LEBANON FROM JUNE
FIRST, NINETEEN HUNDRED EIGHTY-THREE TO DECEMBER FIRST, NINETEEN HUNDRED
EIGHTY-SEVEN, IN GRENADA FROM  OCTOBER  TWENTY-THIRD,  NINETEEN  HUNDRED
EIGHTY-THREE TO NOVEMBER TWENTY-FIRST, NINETEEN HUNDRED EIGHTY-THREE, OR
IN PANAMA FROM DECEMBER TWENTIETH, NINETEEN HUNDRED EIGHTY-NINE TO JANU-
ARY THIRTY-FIRST, NINETEEN HUNDRED NINETY; OR
  (II)  THE  INDIVIDUAL SERVED ON ACTIVE DUTY FOR NINETY DAYS OR MORE IN
THE ARMED FORCES OF THE UNITED STATES DURING ANY ONE  OF  THE  FOLLOWING
WARS OR HOSTILITIES:
  (1)  IN  THE  SPANISH-AMERICAN WAR FROM THE TWENTY-FIRST DAY OF APRIL,
EIGHTEEN HUNDRED NINETY-EIGHT TO THE ELEVENTH  DAY  OF  APRIL,  EIGHTEEN
HUNDRED NINETY-NINE, INCLUSIVE;
  (2) IN THE PHILIPPINE INSURRECTION OR THE CHINA RELIEF EXPEDITION FROM
THE  ELEVENTH  DAY  OF APRIL, EIGHTEEN HUNDRED NINETY-NINE TO THE FOURTH
DAY OF JULY, NINETEEN HUNDRED TWO, INCLUSIVE;
  (3) IN THE MEXICAN BORDER CAMPAIGN FROM THE NINTH DAY OF MAY, NINETEEN
HUNDRED SIXTEEN, TO THE FIFTH DAY OF APRIL, NINETEEN HUNDRED  SEVENTEEN,
INCLUSIVE;
  (4)  IN  WORLD  WAR  I  FROM  THE SIXTH DAY OF APRIL, NINETEEN HUNDRED
SEVENTEEN TO THE ELEVENTH DAY OF NOVEMBER,  NINETEEN  HUNDRED  EIGHTEEN,
INCLUSIVE;
  (5) IN WORLD WAR II FROM THE SEVENTH DAY OF DECEMBER, NINETEEN HUNDRED
FORTY-ONE   TO  THE  THIRTY-FIRST  DAY  OF  DECEMBER,  NINETEEN  HUNDRED
FORTY-SIX, INCLUSIVE;
  (6) IN THE KOREAN HOSTILITIES FROM THE  TWENTY-SEVENTH  DAY  OF  JUNE,
NINETEEN  HUNDRED  FIFTY  TO  THE  THIRTY-FIRST DAY OF JANUARY, NINETEEN
HUNDRED FIFTY-FIVE, INCLUSIVE;
  (7) IN THE VIETNAM CONFLICT FROM THE TWENTY-SECOND  DAY  OF  DECEMBER,
NINETEEN  HUNDRED  SIXTY-ONE TO THE SEVENTH DAY OF MAY, NINETEEN HUNDRED
SEVENTY-FIVE;
  (8) IN THE PERSIAN GULF CONFLICT FROM THE SECOND DAY OF AUGUST,  NINE-
TEEN HUNDRED NINETY TO THE END OF SUCH CONFLICT.
  S 2. This act shall take effect immediately and shall apply to taxable
years beginning on and after January 1, 2015.