Bill > S05999

This bill amends the New York tax law to provide a tax credit for eligible National Guard and military reserve veterans who are charged certain fees in connection with loans under the federal home loan guarantee program. The credit is equal to the three-quarters of one percent difference between the fees charged to these veterans and the fees charged to eligible active duty veterans. The bill defines "veteran" to include those who served during specific periods of war or received certain military medals, and specifies that the credit applies to taxable years beginning on or after January 1, 2023.