STATE OF NEW YORK
________________________________________________________________________
7683--B
IN SENATE
February 8, 2018
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Introduced by Sens. YOUNG, LITTLE -- read twice and ordered printed, and
when printed to be committed to the Committee on Housing, Construction
and Community Development -- committee discharged, bill amended,
ordered reprinted as amended and recommitted to said committee --
committee discharged, bill amended, ordered reprinted as amended and
recommitted to said committee
AN ACT to amend the public housing law, in relation to the New York
state low-income housing tax credit program
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 25 of the public housing law is amended by adding a
2 new subdivision 3 to read as follows:
3 3. As of April first, two thousand eighteen, the credits allowed to a
4 taxpayer pursuant to section twenty-two of this article may be trans-
5 ferred, sold or assigned to any other party without regard to how the
6 federal low-income housing tax credit with respect to the low-income
7 building is allocated; provided however, prior to such transfer, sale or
8 assignment, such taxpayer shall submit to the commissioner a statement
9 which describes the amount of the low-income housing tax credit for
10 transfer, sale or assignment, the proposed recipient of the credit and
11 any other information required by the commissioner.
12 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD14668-04-8
