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A04415 Summary:

BILL NOA04415A
 
SAME ASSAME AS S02642-A
 
SPONSORSchimminger
 
COSPNSRMagnarelli, Colton, Crouch
 
MLTSPNSRCymbrowitz, Kearns, Lupinacci, McDonald, 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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