New York A 4241: Requires insurers to provide certificate holders with at least thirty days prior written notice of termination of group health insurance coverage

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A04241 Summary:

BILL NOA04241 

&nbsp

SAME ASSAME AS S00849

&nbsp

SPONSORJones

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §§210-B & 606, Tax L

&nbsp

Establishes the USDA construction tax credit for a percentage of the profit on any newly constructed home that is sold to someone qualifying with a USDA mortgage.

Go to top A04241 Actions:

BILL NOA04241 

&nbsp

01/31/2025referred to ways and means

09/08/2025enacting clause stricken

Go to topA04241 Committee&nbspVotes:

Go to topA04241 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA04241 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4241

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 31, 2025
 ___________

 Introduced by M. of A. JONES -- read once and referred to the Committee
 on Ways and Means

 AN ACT to amend the tax law, in relation to establishing the USDA
 construction tax credit

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 210-B of the tax law is amended by adding a new
 2 subdivision 61 to read as follows:
 3 61. USDA construction tax credit. Notwithstanding any provision in law
 4 to the contrary, a taxpayer shall be allowed a credit against such tax
 5 of up to fifteen percent of the difference between the total cost to
 6 build and the final sale price of any newly constructed property that a
 7 taxpayer sells to a person or persons who finance the purchase of the
 8 property with a USDA mortgage. For the purposes of this subdivision, a
 9 USDA mortgage shall be any mortgage loan subject to the provisions of
 10 Title 7 CFR Part 3550, Title 7 CFR Part 3555, or Title 7 CFR Part 3560.
 11 § 2. Section 606 of the tax law is amended by adding a new subsection
 12 (bbb) to read as follows:
 13 (bbb) USDA construction tax credit. Notwithstanding any provision in
 14 law to the contrary, a taxpayer shall be allowed a credit against such
 15 tax of up to fifteen percent of the difference between the total cost to
 16 build and the final sale price of any newly constructed property that a
 17 taxpayer sells to a person or persons who finance the purchase of the
 18 property with a USDA mortgage. For the purposes of this subsection, a
 19 USDA mortgage shall be any mortgage loan subject to the provisions of
 20 Title 7 CFR Part 3550, Title 7 CFR Part 3555, or Title 7 CFR Part 3560.
 21 § 3. The commissioner of taxation and finance shall promulgate rules
 22 and regulations necessary to implement this act.
 23 § 4. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01073-01-5

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