STATE OF NEW YORK
________________________________________________________________________
5487
2025-2026 Regular Sessions
IN ASSEMBLY
February 14, 2025
___________
Introduced by M. of A. DURSO -- read once and referred to the Committee
on Ways and Means
AN ACT to amend the tax law, in relation to exempting from the mortgage
recording tax mortgages executed by a veteran first time homebuyer
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 253 of the tax law is amended by adding a new
2 subdivision 4 to read as follows:
3 4. Notwithstanding any other provision of law to the contrary, the
4 mortgage recording tax shall not be imposed upon any mortgage executed
5 by a veteran, as defined in section one of the veterans' services law,
6 who is a first time homebuyer.
7 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD05422-01-5
