New York S 9194: Adds certain properties to the definition of a qualified historic home for the historic homeownership rehabilitation credit

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S09194 Summary:

BILL NOS09194 

&nbsp

SAME ASNo Same As

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SPONSORMYRIE

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COSPNSR

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MLTSPNSR

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Amd §606, Tax L

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Adds certain properties located in a city of one million or more to the definition of a qualified historic home for the historic homeownership rehabilitation credit.

Go to top S09194 Actions:

BILL NOS09194 

&nbsp

02/12/2026REFERRED TO BUDGET AND REVENUE

Go to topS09194 Committee&nbspVotes:

Go to topS09194 Floor&nbspVotes:

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

Go to topS09194 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9194

 IN SENATE

 February 12, 2026
 ___________

 Introduced by Sen. MYRIE -- read twice and ordered printed, and when
 printed to be committed to the Committee on Budget and Revenue

 AN ACT to amend the tax law, in relation to adding certain properties to
 the definition of a qualified historic home for the historic homeown-
 ership rehabilitation credit

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

 1 Section 1. Clause (iv) of subparagraph (A) of paragraph 5 of
 2 subsection (pp) of section 606 of the tax law, as amended by section 3-a
 3 of part U of chapter 59 of the laws of 2019, is amended to read as
 4 follows:
 5 (iv) (1) which is in whole or in part a targeted area residence within
 6 the meaning of section 143(j) of the internal revenue code; or (2) is
 7 located within a census tract which is identified as being at or below
 8 one hundred percent of the state median family income in the most recent
 9 federal census; or (3) which is located in a city with a population of
 10 less than one million with a poverty rate greater than fifteen percent,
 11 rounded to the nearest whole number, in the most recent five year esti-
 12 mate from the American community survey published by the United States
 13 census bureau; or (4) is located in a city with a population greater
 14 than one million, in a qualifying census tract as of January first, two
 15 thousand seventeen, and was owned by the applicant on January first, two
 16 thousand ten.
 17 § 2. This act shall take effect immediately and shall apply to taxable
 18 years beginning on and after January 1, 2027.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01565-02-6

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