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A04398 Summary:

BILL NO    A04398A

SAME AS    
SAME AS S01293-A

SPONSOR    Schimminger

COSPNSR    McDonald

MLTSPNSR   Cymbrowitz, Kearns, Lupinacci, Walter


Amd 606 & 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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