NY S02762 | 2013-2014 | General Assembly
Status
Spectrum: Bipartisan Bill
Status: Engrossed on June 18 2014 - 50% progression, died in committee
Action: 2014-06-18 - referred to ways and means
Pending: Assembly Ways and Means Committee
Text: Latest bill text (Amended) [HTML]
Status: Engrossed on June 18 2014 - 50% progression, died in committee
Action: 2014-06-18 - referred to ways and means
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 dilapidated vacancies; provides that the property shall be substantially rehabilitated which is where the qualified rehabilitation expenditures in relation to such building total ten thousand dollars.
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 dilapidated vacancies; provides that the property shall be substantially rehabilitated which is where the qualified rehabilitation expenditures in relation to such building total ten thousand dollars.
Sponsors
| Sen. Michael Ranzenhofer [R] | Sen. Simcha Felder [D] | Sen. Andrew Lanza [R] | Sen. William Larkin [R] |
| Sen. George Latimer [D] | Sen. David Valesky [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2014-06-18 | Assembly | referred to ways and means |
| 2014-06-18 | Senate | DELIVERED TO ASSEMBLY |
| 2014-06-18 | Senate | PASSED SENATE |
| 2014-06-09 | Senate | ADVANCED TO THIRD READING |
| 2014-06-09 | Senate | AMENDED 2762B |
| 2014-06-03 | Senate | 2ND REPORT CAL. |
| 2014-06-02 | Senate | 1ST REPORT CAL.1066 |
| 2014-05-13 | Senate | REPORTED AND COMMITTED TO FINANCE |
| 2014-01-28 | Senate | PRINT NUMBER 2762A |
| 2014-01-28 | Senate | AMEND AND RECOMMIT TO INVESTIGATIONS AND GOVERNMENT OPERATIONS |
| 2014-01-08 | Senate | REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS |
| 2013-05-21 | Senate | REPORTED AND COMMITTED TO FINANCE |
| 2013-01-23 | Senate | REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS |
Same As/Similar To
A04507 (Same As) 2014-06-05 - print number 4507b
