New York bill A08125 would bar real property converted from a limited-profit housing company to a housing development fund company from receiving a.

New York Assembly Bill A08125 amends the private housing finance law to prevent real property that has transitioned from a limited-profit housing company to a housing development fund company from qualifying for a shelter rent tax exemption. This change applies to projects incorporated under the not-for-profit corporation law and takes effect on January 1 following the date the bill becomes law, affecting taxable years beginning on or after that date.

New York bill A08125 would bar real property converted from a limited-profit housing company to a housing development fund company from receiving a.

New York Assembly Bill A08125 amends the private housing finance law to prevent real property that has transitioned from a limited-profit housing company to a housing development fund company from qualifying for a shelter rent tax exemption. This change applies to projects incorporated under the not-for-profit corporation law and takes effect on January 1 following the date the bill becomes law, affecting taxable years beginning on or after that date.