Assembly bill · A7706 (2025-26)
Grants tax credit for downpayment made on residential housing
New York State Assembly
Sponsor: Michael J. Fitzpatrick (Assembly Member, District 8, Republican)
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From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 20, 2026. About our data
Summary
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.
Summary from NY Open Legislation. How we handle summaries
Amends the Tax Law.
Where it stands
Assigned to a committee for review.
- Introduced
- In committee
- Up for a vote
- Passed one chamber
- Passed
- Enacted
Committee
Ways and Means · New York State Assembly
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Cosponsors
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Read on NY Senate (opens in a new tab)- Republican4
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Full history
- Jan 7, 2026
Referred to committee
REFERRED TO WAYS AND MEANS
NY Assembly
- Apr 8, 2025
Referred to committee
REFERRED TO WAYS AND MEANS
NY Assembly
Read the record
- Read on NY Senate (opens in a new tab) The official record on nysenate.gov.