NY A00781 | 2011-2012 | General Assembly
Status
Spectrum: Moderate Partisan Bill (Republican 8-1)
Status: Introduced on January 5 2011 - 25% progression, died in committee
Action: 2012-06-19 - held for consideration in ways and means
Pending: Assembly Ways and Means Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 5 2011 - 25% progression, died in committee
Action: 2012-06-19 - held for consideration in ways and means
Pending: Assembly Ways and Means Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Provides for personal income taxpayers who are first-time home buyers a credit for interest paid on a purchase money loan/mortgage of 25% of the annual interest paid over the life of the loan; allows for carryover where the credit exceeds the tax due; provides for recapture if the property ceases to qualify during the first five years after acquisition; creates the mortgage credit certificate credit against personal income tax.
Title
Provides for personal income taxpayers who are first-time home buyers a credit for interest paid on a purchase money loan/mortgage of 25% of the annual interest paid over the life of the loan; allows for carryover where the credit exceeds the tax due; provides for recapture if the property ceases to qualify during the first five years after acquisition; creates the mortgage credit certificate credit against personal income tax.
Sponsors
| Asm. Annie Rabbitt [R] | Asm. Fred Thiele [D] | Asm. Brian Kolb [R] | Asm. Gary Finch [R] |
| Asm. David McDonough [R] | Asm. Andrew Raia [R] | Asm. Thomas McKevitt [R] | Asm. William Barclay [R] |
| Asm. Marcus Molinaro [R] |
History
| Date | Chamber | Action |
|---|---|---|
| 2012-06-19 | Assembly | held for consideration in ways and means |
| 2012-01-04 | Assembly | referred to ways and means |
| 2011-01-05 | Assembly | referred to ways and means |
