•  Summary 
  •  
  •  Actions 
  •  
  •  Votes 
  •  
  •  Memo 
  •  
  •  Text 

A04371 Summary:

BILL NO    A04371A

SAME AS    
SAME AS S01295-A

SPONSOR    Schimminger

COSPNSR    Cusick, Colton, Tenney, McDonald

MLTSPNSR   Cymbrowitz, Kearns, Lupinacci, Walter


Amd 606 & 210-B, Tax L


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 dilapidation and
vacancies; provides that the
property which has been substantially
rehabilitated
is where the
qualified
rehabilitation expenditures in relation to such building total ten
thousand
dollars or more.
Go to top
Page display time = 0.0804 sec