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NY A09303
Bill
Status
11/28/2016
Primary Sponsor
Charles Lavine
Click for details
AI Summary
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Establishes a tax credit for New York taxpayers who purchase, construct, or retrofit a principal residence to achieve universal visitability from January 1, 2017 through December 31, 2021.
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Limits the credit to $2,750 for purchase of a new residence, or 50% of retrofitting costs not to exceed $2,750 for existing residences.
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Requires the principal residence to be located in New York State and designed to meet universal visitability standards through guidelines developed by the Division of Code Enforcement and Administration within the Department of State.
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Allows the credit in the taxable year when the residence is purchased, constructed, or when retrofitting work is completed.
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Provides that all credit provisions automatically expire on December 31, 2021.
Legislative Description
Relates to a credit for purchase, construction or retrofitting of a principal residence to achieve universal visitability pursuant to guidelines developed by the division of code enforcement and administration within the department of state; caps tax credits awarded at 1 million dollars per year for 5 years.
Last Action
tabled
11/28/2016