S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2174
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 22, 2019
                                ___________
 
 Introduced by M. of A. HAWLEY, KOLB, BARCLAY, DiPIETRO, BRABENEC, JOHNS,
   ASHBY -- read once and referred to the Committee on Ways and Means
 
 AN  ACT  to  amend the tax law, in relation to providing a tax credit in
   the amount of certain fees charged in connection with loans under  the
   federal  home  loan  guarantee  program  to national guard and reserve
   veterans
 
   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 (jjj) to read as follows:
   (JJJ) CREDIT FOR CERTAIN FEES PAID TO THE FEDERAL HOME  LOAN  MORTGAGE
 CORPORATION.  1.  AN ELIGIBLE TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST
 THE TAX IMPOSED BY THIS ARTICLE WHICH IS EQUAL TO THE THREE-QUARTERS  OF
 ONE  PERCENT DIFFERENCE BETWEEN FEES CHARGED TO VETERANS OF THE NATIONAL
 GUARD OR ARMED FORCES RESERVES AND THE SAME  FEES  CHARGED  TO  ELIGIBLE
 ACTIVE DUTY VETERANS, UNDER LOAN OR LOAN GUARANTEE PROGRAMS ADMINISTERED
 OR  FUNDED  BY  THE  FEDERAL  HOME  LOAN  MORTGAGE  CORPORATION. FOR THE
 PURPOSES OF THIS SECTION AN ELIGIBLE TAXPAYER SHALL BE A VETERAN OF  THE
 NEW YORK NATIONAL GUARD OR MILITARY RESERVE.
   2.  FOR PURPOSES OF THIS SUBSECTION, "VETERAN" SHALL MEAN A PERSON WHO
 SERVED IN THE ACTIVE MILITARY, NAVAL, OR AIR SERVICE DURING A PERIOD  OF
 WAR,  OR  WHO  WAS  A RECIPIENT OF THE ARMED FORCES EXPEDITIONARY MEDAL,
 NAVY EXPEDITIONARY MEDAL, MARINE CORPS EXPEDITIONARY  MEDAL,  OR  GLOBAL
 WAR ON TERRORISM EXPEDITIONARY MEDAL, AND WHO WAS DISCHARGED OR RELEASED
 THEREFROM UNDER HONORABLE CONDITIONS.
   3.  FOR  THE PURPOSES OF THIS SUBSECTION, "SERVICE DURING TIME OF WAR"
 SHALL MEAN:
   (I) THE INDIVIDUAL IN QUESTION WAS A RECIPIENT  OF  THE  ARMED  FORCES
 EXPEDITIONARY  MEDAL,  THE  NAVY EXPEDITIONARY MEDAL OR THE MARINE CORPS
 EXPEDITIONARY MEDAL FOR PARTICIPATION IN OPERATIONS IN LEBANON FROM JUNE
 FIRST, NINETEEN HUNDRED EIGHTY-THREE TO DECEMBER FIRST, NINETEEN HUNDRED
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD02234-01-9

 A. 2174                             2
 
 EIGHTY-SEVEN, IN GRENADA FROM  OCTOBER  TWENTY-THIRD,  NINETEEN  HUNDRED
 EIGHTY-THREE TO NOVEMBER TWENTY-FIRST, NINETEEN HUNDRED EIGHTY-THREE, OR
 IN PANAMA FROM DECEMBER TWENTIETH, NINETEEN HUNDRED EIGHTY-NINE TO JANU-
 ARY THIRTY-FIRST, NINETEEN HUNDRED NINETY; OR
   (II)  THE  INDIVIDUAL SERVED ON ACTIVE DUTY FOR NINETY DAYS OR MORE IN
 THE ARMED FORCES OF THE UNITED STATES DURING ANY ONE  OF  THE  FOLLOWING
 WARS OR HOSTILITIES:
   (1)  IN  THE  SPANISH-AMERICAN WAR FROM THE TWENTY-FIRST DAY OF APRIL,
 EIGHTEEN HUNDRED NINETY-EIGHT TO THE ELEVENTH  DAY  OF  APRIL,  EIGHTEEN
 HUNDRED NINETY-NINE, INCLUSIVE;
   (2) IN THE PHILIPPINE INSURRECTION OR THE CHINA RELIEF EXPEDITION FROM
 THE  ELEVENTH  DAY  OF APRIL, EIGHTEEN HUNDRED NINETY-NINE TO THE FOURTH
 DAY OF JULY, NINETEEN HUNDRED TWO, INCLUSIVE;
   (3) IN THE MEXICAN BORDER CAMPAIGN FROM THE NINTH DAY OF MAY, NINETEEN
 HUNDRED SIXTEEN, TO THE FIFTH DAY OF APRIL, NINETEEN HUNDRED  SEVENTEEN,
 INCLUSIVE;
   (4)  IN  WORLD  WAR  I  FROM  THE SIXTH DAY OF APRIL, NINETEEN HUNDRED
 SEVENTEEN TO THE ELEVENTH DAY OF NOVEMBER,  NINETEEN  HUNDRED  EIGHTEEN,
 INCLUSIVE;
   (5) IN WORLD WAR II FROM THE SEVENTH DAY OF DECEMBER, NINETEEN HUNDRED
 FORTY-ONE  TO  THE THIRTY-FIRST DAY OF DECEMBER, NINETEEN HUNDRED FORTY-
 SIX, INCLUSIVE;
   (6) IN THE KOREAN HOSTILITIES FROM THE  TWENTY-SEVENTH  DAY  OF  JUNE,
 NINETEEN  HUNDRED  FIFTY  TO  THE  THIRTY-FIRST DAY OF JANUARY, NINETEEN
 HUNDRED FIFTY-FIVE, INCLUSIVE;
   (7) IN THE VIETNAM CONFLICT FROM THE TWENTY-SECOND  DAY  OF  DECEMBER,
 NINETEEN  HUNDRED  SIXTY-ONE TO THE SEVENTH DAY OF MAY, NINETEEN HUNDRED
 SEVENTY-FIVE;
   (8) IN THE PERSIAN GULF CONFLICT FROM THE SECOND DAY OF AUGUST,  NINE-
 TEEN HUNDRED NINETY TO THE END OF SUCH CONFLICT.
   § 2. This act shall take effect immediately and shall apply to taxable
 years beginning on and after January 1, 2021.