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A04398 Summary:

BILL NO    A04398 

SAME AS    SAME AS S01293

SPONSOR    Schimminger (MS)

COSPNSR    McDonald

MLTSPNSR   Cymbrowitz, Kearns, Lupinacci, Walter

Amd SS606 & 210-B, Tax L

Establishes a credit against income tax for the rehabilitation of distressed
residential properties; allows a credit equal to thirty percent of the
qualified rehabilitation expenditures made by the taxpayer with respect to a
qualified distressed residential property; requires property that qualifies
must be constructed prior to January 1, 1962 in a distressed residential or
mixed-use neighborhood.
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