Establishes catastrophe savings accounts as a tax-free account to allow homeowners to save money to cover qualified catastrophe expenses.
Extends the effectiveness of provisions of law relating to catastrophic or reinsurance coverage issued to certain small groups.
Extends the effectiveness of provisions of law relating to catastrophic or reinsurance coverage issued to certain small groups.
Creates a homeowners' bill of rights; directs the superintendent of financial services to issue a consumer guide on insuring against catastrophic losses.
Creates a homeownership rehabilitation credit; allows a taxpayer to be credited for fifteen percent of the qualified rehabilitation expenses made by such taxpayer with respect to a qualified residence against the tax imposed; defines qualified residence and qualified rehabilitation expenses.
Relates to authorizing small business tax-deferred savings accounts.
Establishes a farm savings account program.
Establishes the New York state first home savings program to authorize first time home buyers to establish savings accounts to buy their first home.
Establishes the New York state first home savings program to authorize first time home buyers to establish savings accounts to buy their first home.
Authorizes the abatement of real property taxes in certain cases of catastrophic loss; establishes procedures therefor; limits eligibility to one, two, or three family houses; applies to all municipal and school taxes.