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S 5907 New York Senate · 2025 Regular Session

Exempts mortgages of residential real property from taxation when property is purchased by owners receiving state or federal buyout of prior residence destroyed in hurricane Sandy

Summary
Exempts mortgages of residential real property from taxation when property is purchased by owners receiving state or federal buyout of their prior residence destroyed in hurricane Sandy.
Issues: ✓ Budget & TaxesSupports Budget & TaxesExempts mortgages from taxation for Sandy buyout recipients, providing direct tax relief to affected homeowners as a fiscal assistance measure.95% confidence ✓ HousingSupports HousingExempts mortgages for Sandy buyout recipients, reducing housing costs and aiding recovery for displaced homeowners, aligning with affordable housing support.85% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Mar 2025
Committee Review
Floor Vote
Governor
Introduced Mar 3, 2025 Last action Jan 7, 2026
Floor votes

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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
2
Jan 7, 2026
Committee
REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
upper
Mar 3, 2025
Committee
REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Andrew Lanza
Andrew Lanza
RRepublican/Conservative/Independence/Reform
NY
24