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A04398 Summary:
BILL NO | A04398A |
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SAME AS | SAME AS S01293-A |
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SPONSOR | Schimminger |
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COSPNSR | McDonald, Magnarelli |
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MLTSPNSR | Cymbrowitz, Kearns, Lupinacci, Walter |
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Amd §§606 & 210-B, Tax L | |
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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. |