New York A07526 amends the definition of a qualified historic home for the historic homeownership rehabilitation credit.

New York A07526 amends the definition of a qualified historic home for the purposes of the historic homeownership rehabilitation credit. The bill specifies that a qualified historic home must be a certified historic structure located within New York State, substantially rehabilitated, owned by the taxpayer, and where the taxpayer resides during the taxable year. The bill also adds criteria for the home to be in a targeted area, a census tract with low income, or a city with high poverty. This act takes effect immediately.

New York A07526 amends the definition of a qualified historic home for the historic homeownership rehabilitation credit.

New York A07526 amends the definition of a qualified historic home for the purposes of the historic homeownership rehabilitation credit. The bill specifies that a qualified historic home must be a certified historic structure located within New York State, substantially rehabilitated, owned by the taxpayer, and where the taxpayer resides during the taxable year. The bill also adds criteria for the home to be in a targeted area, a census tract with low income, or a city with high poverty. This act takes effect immediately.