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Assembly Bill A3993

2013-2014 Legislative Session

Alters the definition of a qualified historic home for the purposes of the historic homeownership rehabilitation credit

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Archive: Last Bill Status - In Assembly Committee

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2013-A3993 (ACTIVE) - Details

See Senate Version of this Bill:
S2206
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A4364, S4682
2011-2012: A2678, S758
2015-2016: A3194, S2317
2017-2018: A3908, S540
2019-2020: A6097, S902
2021-2022: A5600
2023-2024: A4396
2025-2026: A7526

2013-A3993 (ACTIVE) - Summary

Alters the definition of a qualified historic home for the purposes of the historic homeownership rehabilitation credit.

2013-A3993 (ACTIVE) - Bill Text download pdf 

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

                                  3993

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            January 30, 2013
                               ___________

Introduced  by  M.  of  A. FITZPATRICK, TEDISCO, KOLB, RABBITT -- Multi-
  Sponsored by -- M. of A.   BARCLAY, FINCH,  GIGLIO,  McDONOUGH,  RAIA,
  SALADINO,  THIELE  --  read once and referred to the Committee on Ways
  and Means

AN ACT to amend the tax law, in relation to the definition of  qualified
  historic home for the purposes of the historic homeownership rehabili-
  tation credit

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

  Section 1. Subparagraph (A) of  paragraph  5  of  subsection  (pp)  of
section 606 of the tax law, as added by chapter 547 of the laws of 2006,
clause (iv) as amended by chapter 239 of the laws of 2009, is amended to
read as follows:
  (A)  The  term  "qualified  historic home" means, for purposes of this
subsection, a certified  historic  structure  located  within  New  York
state:
  (i) which has been substantially rehabilitated,
  (ii)  which,  or  any portion of which, is owned, in whole or part, by
the taxpayer, AND
  (iii) in which the taxpayer resides during the taxable year  in  which
the taxpayer is allowed a credit under this subsection[, and
  (iv) which is in whole or in part a targeted area residence within the
meaning  of  section  143(j)  of the internal revenue code or is located
within a census tract which is identified  as  being  at  or  below  one
hundred  percent  of  the  state median family income in the most recent
federal census].
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06082-01-3

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