Permits multiple transfers of low-income housing tax credits in New York.

This bill amends the public housing law to allow multiple transfers of low-income housing tax credits. A taxpayer owning an interest in eligible low-income buildings can transfer the credit to another person or entity, known as the transferee. The transferee can then claim the credit against their tax. The bill applies to credits allocated under article 2-A of the public housing law, regardless of when the credits were allocated. The transferee must comply with all requirements for claiming the credit.

Permits multiple transfers of low-income housing tax credits in New York.

This bill amends the public housing law to allow multiple transfers of low-income housing tax credits. A taxpayer owning an interest in eligible low-income buildings can transfer the credit to another person or entity, known as the transferee. The transferee can then claim the credit against their tax. The bill applies to credits allocated under article 2-A of the public housing law, regardless of when the credits were allocated. The transferee must comply with all requirements for claiming the credit.