NY A04397 | 2017-2018 | General Assembly
Status
Spectrum: Slight Partisan Bill (Democrat 5-2)
Status: Introduced on February 2 2017 - 25% progression, died in committee
Action: 2018-05-25 - print number 4397c
Pending: Assembly Ways and Means Committee
Text: Latest bill text (Amended) [HTML]
Status: Introduced on February 2 2017 - 25% progression, died in committee
Action: 2018-05-25 - print number 4397c
Pending: Assembly Ways and Means Committee
Text: Latest bill text (Amended) [HTML]
Summary
Establishes a credit against income tax for the rehabilitation of distressed commercial properties; allows for 30% of the qualified rehabilitation expenditures up to $100,000; requires that to be eligible, the commercial property is located within a distressed commercial area, as identified by each locality through local law, that is deemed an area in need of community renewal due to dilapidation and vacancies; provides that the property which has been substantially rehabilitated is where the qualified rehabilitation expenditures in relation to such building total ten thousand dollars or more.
Title
Establishes a credit against income tax for the rehabilitation of distressed commercial properties; allows for 30% of the qualified rehabilitation expenditures up to $100,000; requires that to be eligible, the commercial property is located within a distressed commercial area, as identified by each locality through local law, that is deemed an area in need of community renewal due to dilapidation and vacancies; provides that the property which has been substantially rehabilitated is where the qualified rehabilitation expenditures in relation to such building total ten thousand dollars or more.
Sponsors
| Asm. Robin Schimminger [D] | Asm. Michael Cusick [D] | Asm. William Colton [D] | Asm. William Magnarelli [D] |
| Asm. Clifford Crouch [R] | Asm. Steven Cymbrowitz [D] | Asm. Raymond Walter [R] |
History
| Date | Chamber | Action |
|---|---|---|
| 2018-05-25 | Assembly | print number 4397c |
| 2018-05-25 | Assembly | amend and recommit to ways and means |
| 2018-01-29 | Assembly | print number 4397b |
| 2018-01-29 | Assembly | amend and recommit to ways and means |
| 2018-01-03 | Assembly | referred to ways and means |
| 2017-05-15 | Assembly | print number 4397a |
| 2017-05-15 | Assembly | amend and recommit to ways and means |
| 2017-02-02 | Assembly | referred to ways and means |
Same As/Similar To
S02643 (Same As) 2018-06-20 - COMMITTED TO RULES
