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NY A00328
Bill
Status
1/9/2013
Primary Sponsor
Stephen Hawley
Click for details
AI Summary
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Allows eligible taxpayers to claim a tax credit equal to three-quarters of one percent difference in fees charged between National Guard/Reserve veterans and active duty veterans under Federal Home Loan Mortgage Corporation loan programs.
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Defines eligible taxpayer as a veteran of the New York National Guard or Military Reserve who served during wartime, received expeditionary medals, or served on active duty for at least 90 days during specified conflicts from the Spanish-American War through the Persian Gulf War.
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Specifies qualifying service periods including World War I, World War II, Korean Hostilities, Vietnam Conflict, and Persian Gulf Conflict, with precise date ranges for each.
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Takes effect immediately and applies to taxable years beginning on or after January 1, 2015.
Legislative Description
Provides 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.
Last Action
held for consideration in ways and means
6/17/2014