Bill Title: Establishes a credit against income tax for the rehabilitation of distressed commercial properties; allows for 30% of the qualified rehabilitation expenditures up to $100,000; requires that to be eligible, the commercial property is located within a distressed commercial area, as identified by each locality through local law, that is deemed an area in need of community renewal due to dilapidation and vacancies; provides that the property which has been substantially rehabilitated is where the qualified rehabilitation expenditures in relation to such building total ten thousand dollars or more.
Spectrum: Moderate Partisan Bill (Republican 4-1)
Status: (Introduced - Dead) 2020-01-08 - REFERRED TO BUDGET AND REVENUE
[S04905 Detail]
Bill Drafts
Revision | Date | Format | Source | View |
Introduced | 2019-03-29 | HTML/Text | Link | View |
Amendments
Amendment | Date | Disposition | Format | Source | View |
No bill amendments currently on file for New York S04905 |
Supplemental Documents
Title | Description | Date | Format | Source | View |
No supplemental documents for New York S04905 currently on file. |
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