Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 14, 2018 |
reported and committed to finance |
Mar 08, 2018 |
print number 7683b |
Mar 08, 2018 |
amend (t) and recommit to housing, construction and community development |
Feb 21, 2018 |
print number 7683a |
Feb 21, 2018 |
amend (t) and recommit to housing, construction and community development |
Feb 08, 2018 |
referred to housing, construction and community development |
Senate Bill S7683B
2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Finance Committee
- 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
Bill Amendments
co-Sponsors
(R, C, IP) Senate District
2017-S7683 - Details
- Current Committee:
- Senate Finance
- Law Section:
- Public Housing Law
- Laws Affected:
- Amd §25, Pub Hous L
2017-S7683 - Sponsor Memo
BILL NUMBER: S7683 SPONSOR: YOUNG TITLE OF BILL: An act to amend the public housing law, in relation to the New York state low-income housing tax credit program PURPOSE: This bill would provide for the allocation of federal low income housing tax credits among owners pursuant to an executed agreement. SUMMARY OF PROVISIONS: This bill would add a new subdivision 3 to section 25 of the public housing law, relating to the coordination of federal low income housing tax credits with the state low income housing tax credit program to allow a pass through of the credit to persons designated, members, or owners pursuant to a written agreement among the persons designated as partners, members or owners, which agreement documents an alternative distribution method without regard to sharing of other tax or economic attributes of the entity, including how the federal low income housing
2017-S7683 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7683 I N S E N A T E February 8, 2018 ___________ Introduced by Sens. YOUNG, LITTLE -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to amend the public housing law, in relation to the New York state low-income housing tax credit program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 25 of the public housing law is amended by adding a new subdivision 3 to read as follows: 3. AS OF JUNE FIRST, TWO THOUSAND EIGHTEEN, THE CREDITS ALLOWED TO A PARTNERSHIP, LIMITED LIABILITY COMPANY TAXED AS A PARTNERSHIP OR MULTI- PLE OWNERS OF PROPERTY SHALL BE PASSED THROUGH TO THE PERSONS DESIGNATED AS PARTNERS, MEMBERS OR OWNERS PURSUANT TO AN EXECUTED AGREEMENT AMONG THE PERSONS DESIGNATED AS PARTNERS, MEMBERS OR OWNERS DOCUMENTING AN ALTERNATIVE DISTRIBUTION METHOD WITHOUT REGARD TO THEIR SHARING OF OTHER TAX OR ECONOMIC ATTRIBUTES OF THE ENTITY, INCLUDING BUT NOT LIMITED TO HOW THE FEDERAL LOW-INCOME HOUSING TAX CREDIT WITH RESPECT TO THE PROJECT IS ALLOCATED TO THE PARTNERS, MEMBERS OR OWNERS. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14668-01-8
co-Sponsors
(R, C, IP) Senate District
2017-S7683A - Details
- Current Committee:
- Senate Finance
- Law Section:
- Public Housing Law
- Laws Affected:
- Amd §25, Pub Hous L
2017-S7683A - Sponsor Memo
BILL NUMBER: S7683A SPONSOR: YOUNG TITLE OF BILL: An act to amend the public housing law, in relation to the allocation of the New York state low-income housing tax credit to partners, limited liability company members and multiple owners PURPOSE: This bill would provide for the allocation of federal low income housing tax credits among owners pursuant to an executed agreement. SUMMARY OF PROVISIONS: This bill would add a new subdivision 3 to section 25 of the public housing law, relating to the coordination of federal low income housing tax credits with the state low income housing tax credit program to allow a pass through of the credit to persons designated, members, or owners pursuant to a written agreement among the persons designated as partners, members or owners, which agreement documents an alternative distribution method without regard to sharing of other tax or economic
2017-S7683A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7683--A I N S E N A T E February 8, 2018 ___________ Introduced by Sens. YOUNG, LITTLE -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the public housing law, in relation to the allocation of the New York state low-income housing tax credit to partners, limited liability company members and multiple owners THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 25 of the public housing law is amended by adding a new subdivision 3 to read as follows: 3. ON AND AFTER JUNE FIRST, TWO THOUSAND EIGHTEEN, THE CREDITS ALLOWED PURSUANT TO THIS ARTICLE TO A PARTNERSHIP, LIMITED LIABILITY COMPANY TAXED AS A PARTNERSHIP OR MULTIPLE OWNERS OF PROPERTY SHALL BE PASSED THROUGH TO THE PERSONS DESIGNATED AS PARTNERS, MEMBERS OR OWNERS PURSU- ANT TO AN EXECUTED AGREEMENT AMONG THE PERSONS DESIGNATED AS PARTNERS, MEMBERS OR OWNERS DOCUMENTING AN ALTERNATIVE DISTRIBUTION METHOD WITHOUT REGARD TO THEIR SHARING OF OTHER TAX OR ECONOMIC ATTRIBUTES OF THE ENTI- TY, INCLUDING BUT NOT LIMITED TO HOW THE FEDERAL LOW-INCOME HOUSING TAX CREDIT WITH RESPECT TO THE PROJECT IS ALLOCATED TO THE PARTNERS, MEMBERS OR OWNERS. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14668-02-8
co-Sponsors
(R, C, IP) Senate District
2017-S7683B (ACTIVE) - Details
- Current Committee:
- Senate Finance
- Law Section:
- Public Housing Law
- Laws Affected:
- Amd §25, Pub Hous L
2017-S7683B (ACTIVE) - Sponsor Memo
BILL NUMBER: S7683B SPONSOR: YOUNG TITLE OF BILL: An act to amend the public housing law, in relation to the New York state low-income housing tax credit program PURPOSE: This bill would provide for the allocation of federal low income housing tax credits among owners pursuant to an executed agreement. SUMMARY OF PROVISIONS: This bill would add a new subdivision 3 to section 25 of the public housing law, relating to the coordination of federal low income housing tax credits with the state low income housing tax credit program to allow a pass through of the credit to persons designated, members, or owners pursuant to a written agreement among the persons designated as partners, members or owners, which agreement documents an alternative distribution method without regard to sharing of other tax or economic attributes of the entity, including how the federal low income housing
2017-S7683B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7683--B I N S E N A T E February 8, 2018 ___________ Introduced by Sens. YOUNG, LITTLE -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the public housing law, in relation to the New York state low-income housing tax credit program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 25 of the public housing law is amended by adding a new subdivision 3 to read as follows: 3. AS OF APRIL FIRST, TWO THOUSAND EIGHTEEN, THE CREDITS ALLOWED TO A TAXPAYER PURSUANT TO SECTION TWENTY-TWO OF THIS ARTICLE MAY BE TRANS- FERRED, SOLD OR ASSIGNED TO ANY OTHER PARTY WITHOUT REGARD TO HOW THE FEDERAL LOW-INCOME HOUSING TAX CREDIT WITH RESPECT TO THE LOW-INCOME BUILDING IS ALLOCATED; PROVIDED HOWEVER, PRIOR TO SUCH TRANSFER, SALE OR ASSIGNMENT, SUCH TAXPAYER SHALL SUBMIT TO THE COMMISSIONER A STATEMENT WHICH DESCRIBES THE AMOUNT OF THE LOW-INCOME HOUSING TAX CREDIT FOR TRANSFER, SALE OR ASSIGNMENT, THE PROPOSED RECIPIENT OF THE CREDIT AND ANY OTHER INFORMATION REQUIRED BY THE COMMISSIONER. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14668-04-8
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