Assembly BillIntroduced
A 5487: Exempts from the mortgage recording tax mortgages executed by a veteran first time homebuyer.
What A 5487 does, verified January 8, 2026
The proposed legislation aims to exempt mortgages executed by a veteran who is a first-time homebuyer from the mortgage recording tax. The tax exemption is intended to support veterans who are purchasing their first home. The bill defines a "veteran" as someone who is eligible for benefits under the Veterans' Services Law. The exemption applies to mortgages executed by these veterans, regardless of other provisions in the law. The bill takes effect immediately upon passage.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: referred to ways and means (2026-01-07)Alert me
Quick answers about A 5487
- What is the current status of A 5487?
- As of January 8, 2026, A 5487 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on January 7, 2026, was "referred to ways and means".
- Did A 5487 pass?
- Not yet. A 5487 has been introduced and has not passed either house.
- Who wrote A 5487, and where is it now?
- A 5487 was authored by Asm. Michael Durso with 4 coauthors. Its committee of record is Assembly Ways & Means.
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions3 total · showing 3
| Jan. 07, 2026 | referred to ways and means |
| Jun. 06, 2025 | held for consideration in ways and means |
| Feb. 14, 2025 | referred to ways and means |
Latest bill textIntroduced version, February 14, 2025 · 177 words
STATE OF NEW YORK ________________________________________________________________________ 5487 2025-2026 Regular Sessions IN ASSEMBLY February 14, 2025 ___________ Introduced by M. of A. DURSO -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to exempting from the mortgage recording tax mortgages executed by a veteran first time homebuyer The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 253 of the tax law is amended by adding a new 2 subdivision 4 to read as follows: 3 4. Notwithstanding any other provision of law to the contrary, the 4 mortgage recording tax shall not be imposed upon any mortgage executed 5 by a veteran, as defined in section one of the veterans' services law, 6 who is a first time homebuyer. 7 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD05422-01-5
Text of A 5487 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions