senate Bill S293

2021-2022 Legislative Session

Adds certain properties to the definition of a qualified historic home for the historic homeownership rehabilitation credit

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Finance Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 04, 2021 reported and committed to finance
Jan 06, 2021 referred to budget and revenue

Votes

view votes

May 4, 2021 - Budget and Revenue committee Vote

S293
6
0
committee
6
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Budget and Revenue committee vote details

Budget and Revenue Committee Vote: May 4, 2021

aye wr (1)

S293 (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2019-2020 Legislative Session:
S8077

S293 (ACTIVE) - Summary

Relates to adding certain properties located in a city of one million or more to the definition of a qualified historic home for the historic homeownership rehabilitation credit.

S293 (ACTIVE) - Sponsor Memo

S293 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    293
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced  by  Sen.  MYRIE  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 AN ACT to amend the tax law, in relation to adding certain properties to
   the definition of a qualified historic home for the historic  homeown-
   ership rehabilitation credit
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Clause  (iv)  of  subparagraph  (A)  of  paragraph  5  of
 subsection (pp) of section 606 of the tax law, as amended by section 3-a
 of  part  U  of  chapter  59  of the laws of 2019, is amended to read as
 follows:
   (iv) (1) which is in whole or in part a targeted area residence within
 the meaning of section 143(j) of the internal revenue code;  or  (2)  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; or (3) which is located in a city with a  population  of
 less  than one million with a poverty rate greater than fifteen percent,
 rounded to the nearest whole number, in the most recent five year  esti-
 mate  from  the American community survey published by the United States
 census bureau; OR (4) IS LOCATED IN A CITY  WITH  A  POPULATION  GREATER
 THAN  ONE MILLION, IN A QUALIFYING CENSUS TRACT AS OF JANUARY FIRST, TWO
 THOUSAND SEVENTEEN, AND WAS OWNED BY THE APPLICANT ON JANUARY FIRST, TWO
 THOUSAND TEN.
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2021.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02368-01-1

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