Bill Title: Provides for the establishment of a home purchase account; enables first time house, townhouse, 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; provides 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, townhouse, condominium or unit in a cooperative housing corporation or the construction of a house, townhouse, condominium or unit in a cooperative housing corporation; provides that inappropriate application of fund monies shall cause the individual to be liable for income tax and be penalized.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2016-03-17 - RECOMMIT, ENACTING CLAUSE STRICKEN
[S06548 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
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| Introduced | 1969-12-31 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
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| No bill amendments currently on file for New York S06548 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
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| No supplemental documents for New York S06548 currently on file. |
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