NYC 9/11 Public Portal Document
10/23/2001 08:42 FAX 212 481 0122 REAL ESTATE BOARD OF NY. 16003
Eligibility: Any municipal or 501(c)3 bond issuer in the State of New York. Of great concern are the
debt service problems facing the Port Authority, New York City Hospitals, and the Metropolitan
Transportation Authority- A conforming amendment would be a two-year exemption for non-hospital
$O 1(c)3's from the current $150 million.
$1000 Tax Credit for Taxpayers who live within the Zone- $13-$1.5 billion (over two)
A $3,000 Federal Tax Credit for 2002 and 2003 for each taxpayer who maintains primary
residence within the Zone (Manhattan South of Chambers or Worth Streets).
Purpose: The tax credit is designed as an incentive to assist residents with increase costs, and challenges
presented by living within the Recovery Zone-
Program: The amount of this Federal tax credit would be $3,000 per year per taxpayer- Joint filers
would be eligible for $6,000. It would be in effect for filers in 2002 and 2003, and would be pro rated
over bi-monthly basis.
Eligibility: The credit would be available to all taxpayers maintaining a primary residence south of
Chambers Street or Worth Streets in Manhattan. Estimates place the total number of residents below of
Chambers Street at 25,000, but that figure includes dependents-
NYC-WTC 000136203
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