Bill > S00902

This bill amends the tax law to alter the definition of a "qualified historic home" for the purposes of the historic homeownership rehabilitation credit. Specifically, it removes the requirement that the qualified historic home be located in a targeted area or a census tract with a median family income at or below the state median. The revised definition only requires the home to be a certified historic structure located in New York state that has been substantially rehabilitated and is owned and resided in by the taxpayer during the taxable year the credit is claimed.