N.Y. Public Housing Law Section 24
Credit recapture

If, as of the close of any taxable year in the compliance period, the amount of the qualified basis of any building with respect to the taxpayer is less than the amount of such basis as of the close of the preceding taxable year, the credit under this article may be recaptured as provided in Tax Law § 18 (Low-income housing credit)section eighteen of the tax law.

Source: Section 24 — Credit recapture, https://www.­nysenate.­gov/legislation/laws/PBG/24 (updated Sep. 22, 2014; accessed Dec. 6, 2025).

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Verified:
Dec. 6, 2025

Last modified:
Sep. 22, 2014

§ 24. Credit recapture's source at nysenate​.gov

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