New York Senate Bill 1463 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on February 2 2009 - 25% progression, died in committee
Action: 2010-01-06 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
Pending: Senate Investigations and Government Operations Committee
Text: Latest bill text (Introduced) [HTML]

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.

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.

Sen. Joseph Addabbo [D]

Sen. Joseph Robach [R]

Date	Chamber	Action
2010-01-06		REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
2009-02-02		REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

A8636 (Same As) 2010-01-06 - referred to ways and means

Type	Source
Summary	https://assembly.state.ny.us/leg/?default_fld=&bn=S01463&term=2009&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y
Text	https://assembly.state.ny.us/leg/?default_fld=&bn=S01463&term=2009&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S01463