Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 14, 2014 |
print number 6262b |
Feb 14, 2014 |
amend and recommit to ways and means |
Jan 08, 2014 |
referred to ways and means |
Apr 16, 2013 |
print number 6262a |
Apr 16, 2013 |
amend and recommit to ways and means |
Mar 25, 2013 |
referred to ways and means |
Assembly Bill A6262
2013-2014 Legislative Session
Sponsored By
DENDEKKER
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
Actions
Bill Amendments
2013-A6262 - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
2013-A6262 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6262 2013-2014 Regular Sessions I N A S S E M B L Y March 25, 2013 ___________ Introduced by M. of A. DenDEKKER -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to providing a personal income tax credit for the purchase of a new home THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 606 of the tax law is amended by adding a new subsection (vv) to read as follows: (VV) REAL PROPERTY PURCHASE CREDIT. (1) A TAXPAYER SHALL BE ALLOWED A CREDIT AS PROVIDED IN THIS SUBSECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE OF ELIGIBLE REAL PROPERTY. THE AMOUNT OF THE CREDIT SHALL BE FIVE THOUSAND DOLLARS. ANY AMOUNT OF THE TAX CREDIT NOT USED IN THE TAXABLE YEAR IN WHICH THE RESIDENCE WAS PURCHASED MAY BE CARRIED FORWARD FOR THREE YEARS UNTIL THE FULL AMOUNT OF THE CREDIT HAS BEEN ALLOWED AND ANY AMOUNT NOT USED SHALL LAPSE. (2) IF BEFORE THE END OF A ONE YEAR PERIOD BEGINNING ON THE DATE OF PURCHASE OF SUCH ELIGIBLE REAL PROPERTY BY THE TAXPAYER: (I) THE TAXPAYER DISPOSES OF SUCH TAXPAYER'S INTEREST IN SUCH ELIGIBLE REAL PROPERTY, OR (II) SUCH ELIGIBLE REAL PROPERTY CEASES TO BE USED AS THE PRINCIPAL RESIDENCE OF THE TAXPAYER, THE TAXPAYER'S TAX IMPOSED BY THIS ARTICLE FOR THE TAXABLE YEAR IN WHICH SUCH DISPOSITION OR CESSATION OCCURS SHALL BE INCREASED BY THE RECAPTURE PERCENTAGE OF THE CREDIT AS DETERMINED BY REGULATION ADOPTED BY THE COMMISSIONER, FOR ALL PRIOR TAXABLE YEARS WITH RESPECT TO SUCH CREDIT. (3) IN THE CASE OF A HUSBAND AND WIFE WHO FILE A JOINT FEDERAL RETURN, BUT WHO ARE REQUIRED TO DETERMINE THEIR STATE TAXES SEPARATELY, THE CREDIT ALLOWED PURSUANT TO THIS SUBSECTION MAY BE APPLIED AGAINST THE TAX IMPOSED OF EITHER OR DIVIDED BETWEEN THEM AS THEY MAY ELECT. (4) FOR THE PURPOSES OF THIS SUBSECTION, THE TERM "ELIGIBLE REAL PROP- ERTY" SHALL MEAN A NEWLY CONSTRUCTED ONE OR TWO FAMILY RESIDENCE IN THIS EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04507-04-3
2013-A6262A - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
2013-A6262A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6262--A 2013-2014 Regular Sessions I N A S S E M B L Y March 25, 2013 ___________ Introduced by M. of A. DenDEKKER -- read once and referred to the Committee on Ways and Means -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to providing a personal income tax credit for the purchase of a new home THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 606 of the tax law is amended by adding a new subsection (ww) to read as follows: (WW) REAL PROPERTY PURCHASE CREDIT. (1) A TAXPAYER SHALL BE ALLOWED A CREDIT AS PROVIDED IN THIS SUBSECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE OF ELIGIBLE REAL PROPERTY. THE AMOUNT OF THE CREDIT SHALL BE FIVE THOUSAND DOLLARS. (2) IF BEFORE THE END OF A ONE YEAR PERIOD BEGINNING ON THE DATE OF PURCHASE OF SUCH ELIGIBLE REAL PROPERTY BY THE TAXPAYER: (I) THE TAXPAYER DISPOSES OF SUCH TAXPAYER'S INTEREST IN SUCH ELIGIBLE REAL PROPERTY, OR (II) SUCH ELIGIBLE REAL PROPERTY CEASES TO BE USED AS THE PRINCIPAL RESIDENCE OF THE TAXPAYER, THE TAXPAYER'S TAX IMPOSED BY THIS ARTICLE FOR THE TAXABLE YEAR IN WHICH SUCH DISPOSITION OR CESSATION OCCURS SHALL BE INCREASED BY THE RECAPTURE PERCENTAGE OF THE CREDIT AS DETERMINED BY REGULATION ADOPTED BY THE COMMISSIONER, FOR ALL PRIOR TAXABLE YEARS WITH RESPECT TO SUCH CREDIT. (3) IN THE CASE OF A HUSBAND AND WIFE WHO FILE A JOINT FEDERAL RETURN, BUT WHO ARE REQUIRED TO DETERMINE THEIR STATE TAXES SEPARATELY, THE CREDIT ALLOWED PURSUANT TO THIS SUBSECTION MAY BE APPLIED AGAINST THE TAX IMPOSED OF EITHER OR DIVIDED BETWEEN THEM AS THEY MAY ELECT. (4) FOR THE PURPOSES OF THIS SUBSECTION, THE TERM "ELIGIBLE REAL PROP- ERTY" SHALL MEAN A NEWLY CONSTRUCTED ONE OR TWO FAMILY RESIDENCE IN THIS STATE, WHICH HAS NOT BEEN PREVIOUSLY OCCUPIED, PURCHASED FOR ONE MILLION DOLLARS OR LESS AND THAT IS THE PRIMARY RESIDENCE OF THE TAXPAYER. TO EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04507-06-3
2013-A6262B (ACTIVE) - Details
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Tax Law
- Laws Affected:
- Amd §606, Tax L
2013-A6262B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6262--B 2013-2014 Regular Sessions I N A S S E M B L Y March 25, 2013 ___________ Introduced by M. of A. DenDEKKER -- read once and referred to the Committee on Ways and Means -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- recommitted to the Committee on Ways and Means in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to providing a personal income tax credit for the purchase of a new home THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsections (yy) and (zz) of section 606 of the tax law, as relettered by section 5 of part H of chapter 1 of the laws of 2003, are relettered subsections (yyy) and (zzz) and a new subsection (xx) is added to read as follows: (XX) REAL PROPERTY PURCHASE CREDIT. (1) A TAXPAYER SHALL BE ALLOWED A CREDIT AS PROVIDED IN THIS SUBSECTION AGAINST THE TAX IMPOSED BY THIS ARTICLE FOR THE PURCHASE OF ELIGIBLE REAL PROPERTY. THE AMOUNT OF THE CREDIT SHALL BE FIVE THOUSAND DOLLARS. (2) IF BEFORE THE END OF A ONE YEAR PERIOD BEGINNING ON THE DATE OF PURCHASE OF SUCH ELIGIBLE REAL PROPERTY BY THE TAXPAYER: (I) THE TAXPAYER DISPOSES OF SUCH TAXPAYER'S INTEREST IN SUCH ELIGIBLE REAL PROPERTY, OR (II) SUCH ELIGIBLE REAL PROPERTY CEASES TO BE USED AS THE PRINCIPAL RESIDENCE OF THE TAXPAYER, THE TAXPAYER'S TAX IMPOSED BY THIS ARTICLE FOR THE TAXABLE YEAR IN WHICH SUCH DISPOSITION OR CESSATION OCCURS SHALL BE INCREASED BY THE RECAPTURE PERCENTAGE OF THE CREDIT AS DETERMINED BY REGULATION ADOPTED BY THE COMMISSIONER, FOR ALL PRIOR TAXABLE YEARS WITH RESPECT TO SUCH CREDIT. (3) IN THE CASE OF A HUSBAND AND WIFE WHO FILE A JOINT FEDERAL RETURN, BUT WHO ARE REQUIRED TO DETERMINE THEIR STATE TAXES SEPARATELY, THE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04507-10-4
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