Bill > S06594

This bill provides a tax credit to eligible New York National Guard and military reserve veterans for the difference between the fees charged to them and the fees charged to active duty veterans under loan or loan guarantee programs administered or funded by the Federal Home Loan Mortgage Corporation. The credit is equal to three-quarters of one percent of the fee difference. To be eligible, the veteran must have served during a period of war or received certain military service medals. The bill defines "veteran" and "service during time of war" for the purposes of the tax credit, and it applies to taxable years beginning on or after January 1, 2025.