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Assembly Bill A3194

2015-2016 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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2015-A3194 (ACTIVE) - Details

See Senate Version of this Bill:
S2317
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
2013-2014: A3993, S2206
2017-2018: A3908, S540
2019-2020: A6097, S902
2021-2022: A5600
2023-2024: A4396
2025-2026: A7526

2015-A3194 (ACTIVE) - Summary

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

2015-A3194 (ACTIVE) - Bill Text download pdf 

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

                                  3194

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 22, 2015
                               ___________

Introduced  by M. of A. FITZPATRICK, TEDISCO, KOLB -- 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.
                                                           LBD05727-01-5

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