Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 07, 2018 |
signed chap.379 |
Nov 27, 2018 |
delivered to governor |
May 30, 2018 |
returned to senate passed assembly |
Apr 25, 2018 |
ordered to third reading cal.758 substituted for a9039 |
Jan 08, 2018 |
referred to ways and means delivered to assembly passed senate ordered to third reading cal.44 |
Jan 05, 2018 |
referred to rules |
Senate Bill S7316
Signed By Governor2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
co-Sponsors
(D) 32nd Senate District
2017-S7316 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9039
- Law Section:
- Private Housing Finance Law
- Laws Affected:
- Rpld Art 28, Priv Hous Fin L; rpld §612 sub§ (b) ¶42, sub§ (c) ¶¶42 & 43, Tax L
2017-S7316 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7316 SPONSOR: LITTLE TITLE OF BILL: An act to repeal certain provisions of the private housing finance law and the tax law relating to the New York state first home savings program; and to study the impacts of a first home savings program PURPOSE: Study the opportunities for, and implications of, a tax-advantaged first home savings program. SUMMARY OF PROVISIONS: Section 1 and 2 repeal Article 28 of the Private Housing Finance Law and paragraphs 42 of subsection b and paragraphs 42 and 43 of subsection c of section 612 of the Tax Law added by Chapter 472 of the Laws of 2017. Section 3 requires the Division of Housing and Community Renewal, in consultation with the New York State Department of Taxation and Finance and the State of New York Mortgage Authority to study and report on the
2017-S7316 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7316 I N S E N A T E January 5, 2018 ___________ Introduced by Sen. LITTLE -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to repeal certain provisions of the private housing finance law and the tax law relating to the New York state first home savings program; and to study the impacts of a first home savings program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Article 28 of the private housing finance law, as added by chapter 472 of the laws of 2017, is REPEALED. § 2. Paragraph 42 of subsection (b) and paragraphs 42 and 43 of subsection (c) of section 612 of the tax law, as added by chapter 472 of the laws of 2017, are REPEALED. § 3. The Division of Housing and Community Renewal, in consultation with the New York State Department of Taxation and Finance and the State of New York Mortgage Authority, shall study opportunities for, and implications of, a tax-advantaged first home savings program. Such study shall include, but not be limited to, the feasibility and sustainability of such a program including the merits of income limitations; challenges faced by first time homebuyers; homeownership rates in New York State versus the rest of the country; type of tax-advantaged first time home- buyer programs utilized by other states; detailed fiscal impact includ- ing methodology related to expected household formation and impact on housing; fiscal gains to the state due to tax revenues; and any economic impact due to home purchasing and home construction. The Division of Housing and Community Renewal is authorized to work with stakeholders as well as conduct any hearings it deems necessary to accomplish the purposes of this act. § 4. The Division of Housing and Community Renewal shall issue a report with detailed recommendations and findings to the governor, the temporary president of the senate and the speaker of the assembly, and the chair of the assembly committee on housing and the senate committee on housing, construction and community development; and post a copy of such report on its website on or before June 30, 2018. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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