Assembly Bill A4364

2009-2010 Legislative Session

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

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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

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2009-A4364 (ACTIVE) - Details

See Senate Version of this Bill:
S4682
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L
Versions Introduced in Other Legislative Sessions:
2011-2012: A2678, S758
2013-2014: A3993, S2206
2015-2016: A3194, S2317
2017-2018: A3908, S540
2019-2020: A6097, S902
2021-2022: A5600
2023-2024: A4396

2009-A4364 (ACTIVE) - Summary

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

2009-A4364 (ACTIVE) - Bill Text download pdf 

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

                                  4364

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 3, 2009
                               ___________

Introduced  by  M. of A. FITZPATRICK, MOLINARO, TEDISCO, BACALLES, KOLB,
  RABBITT -- Multi-Sponsored by -- M. of  A.  BARCLAY,  BURLING,  CONTE,
  CROUCH, ERRIGO, FINCH, GIGLIO, HAYES, McDONOUGH, O'MARA, RAIA, SALADI-
  NO,  SCOZZAFAVA,  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,
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,
  (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 and]  located
within an area of a city, town or village whose governing body has iden-
tified  by  resolution  that  such  area is in need of community renewal
because of deteriorated and/or vacant buildings and, by local  law,  has
adopted  a  historic  preservation  and  community  renewal  program  to
preserve and/or revitalize such area. A historic preservation and commu-
nity renewal program  is  a  program  that  coordinates  all  applicable
governmental  benefits  and  programs with the aims of preserving and/or
revitalizing neighborhoods,  encouraging  property  owners  to  complete

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02959-01-9

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