Bill 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.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2014-01-08 - referred to ways and means [A06143 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Assemblymember Philip Ramos [D]	Primary	Sponsored Bills	HD-006	FollowTheMoney	Ballotpedia	VoteSmart

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