NY A08636 | 2009-2010 | General Assembly
Status
Spectrum: Partisan Bill (Democrat 5-0)
Status: Introduced on June 1 2009 - 25% progression, died in committee
Action: 2010-01-06 - referred to ways and means
Pending: Assembly Ways and Means Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on June 1 2009 - 25% progression, died in committee
Action: 2010-01-06 - referred to ways and means
Pending: Assembly Ways and Means Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Provides for the establishment of a home purchase account; enables first time house, condominium or unit in a cooperative housing corporation purchasers to deposit monies into an account established at a banking institution and be able to take a tax deduction for the amount deposited, not exceeding $5,000 for an individual and $10,000 for a couple; withdrawal of the monies in the fund will not make an individual liable to income tax if such monies are applied toward the purchase of a house, condominium or unit in a cooperative housing corporation or the construction of a house, condominium or unit in a cooperative housing corporation; inappropriate application of fund monies shall cause the individual to be liable for income tax and be penalized.
Title
Provides for the establishment of a home purchase account; enables first time house, condominium or unit in a cooperative housing corporation purchasers to deposit monies into an account established at a banking institution and be able to take a tax deduction for the amount deposited, not exceeding $5,000 for an individual and $10,000 for a couple; withdrawal of the monies in the fund will not make an individual liable to income tax if such monies are applied toward the purchase of a house, condominium or unit in a cooperative housing corporation or the construction of a house, condominium or unit in a cooperative housing corporation; inappropriate application of fund monies shall cause the individual to be liable for income tax and be penalized.
Sponsors
Asm. Donna Lupardo [D] | Asm. Crystal Peoples-Stokes [D] | Asm. Audrey Pheffer [D] | Asm. Mark Schroeder [D] |
Asm. Darryl Towns [D] |
History
Date | Chamber | Action |
---|---|---|
2010-01-06 | referred to ways and means | |
2009-06-01 | referred to ways and means |
Same As/Similar To
S1463 (Same As) 2010-01-06 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS