States / New York / A 7706

A 7706 In Committee

Grants tax credit for downpayment made on residential housing

Introduced
In Committee
Floor
Crossed Over
Passed
Enacted

Grants credit against personal income tax to purchasers of residential housing in the amount of any downpayment made on such housing; provides that the maximum credit shall not exceed 5 percent of the purchase price of the residential housing; requires taxpayers to meet eligibility requirements imposed by the state of New York mortgage agency.

Chamber
House
Introduced
Apr 8, 2025
Last action
Jan 7, 2026 — REFERRED TO WAYS AND MEANS
Session
2025-2026
Momentum
33 · Low