S T A T E O F N E W Y O R K
________________________________________________________________________
1808
2023-2024 Regular Sessions
I N A S S E M B L Y
January 23, 2023
___________
Introduced by M. of A. ZINERMAN -- read once and referred to the Commit-
tee on Ways and Means
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, 2024.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00130-01-3