Excludes certain owners of single family residential rental properties from being eligible for credits for interest payments and depreciation for.

New York A02709 amends the tax law to exclude certain owners of single family residential rental properties who own more than one such property from being eligible for credits for interest payments and depreciation. Exceptions are provided for qualified nonprofit organizations. The bill defines terms such as "disqualified single family property owner," "land bank," and "qualified nonprofit organization." It grants the commissioner of taxation and finance authority to make rules and regulations to carry out these provisions and prevent avoidance of compliance.

Excludes certain owners of single family residential rental properties from being eligible for credits for interest payments and depreciation for.

New York A02709 amends the tax law to exclude certain owners of single family residential rental properties who own more than one such property from being eligible for credits for interest payments and depreciation. Exceptions are provided for qualified nonprofit organizations. The bill defines terms such as "disqualified single family property owner," "land bank," and "qualified nonprofit organization." It grants the commissioner of taxation and finance authority to make rules and regulations to carry out these provisions and prevent avoidance of compliance.