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NY S07154
Bill
Status
3/17/2010
Primary Sponsor
Charles Fuschillo
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AI Summary
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Amends Real Property Tax Law Section 457, Subdivision 5 to extend the deadline for first-time homebuyer exemptions on newly constructed primary residences from December 31, 2010 to December 31, 2015
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Exemptions are only allowed for purchases made on or after December 31, 2015 if the purchase is pursuant to a binding written contract entered into prior to December 31, 2015
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First-time homebuyers who received exemptions prior to the new deadline date may continue to receive further exemptions under the law
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Takes effect immediately upon enactment
Legislative Description
Extends the date allowable for exemptions for first-time homebuyers of newly constructed homes to on or after December 31, 2015.
Last Action
REPORTED AND COMMITTED TO RULES
6/15/2010