Bill Text: NY S09050 | 2023-2024 | General Assembly | Introduced

New York Senate Bill 9050

Introduced

Bill Title: Extends eligibility for real property tax exemptions to veterans who served on a submarine or on classified missions during a period of war as documented by military service records.

Spectrum: Slight Partisan Bill (Republican 3-1)

Status: (Introduced) 2024-04-12 - REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS [S09050 Detail]

Download: New_York-2023-S09050-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          9050

                    IN SENATE

                                     April 12, 2024
                                       ___________

        Introduced  by  Sen. HINCHEY -- read twice and ordered printed, and when
          printed to be committed to the Committee on Veterans, Homeland Securi-
          ty and Military Affairs

        AN ACT to amend the real property tax law, in relation to real  property
          tax exemptions for veterans

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Paragraph (b) of subdivision 2 of section 458-a of the real
     2  property tax law, as amended by chapter 473 of  the  laws  of  2004,  is
     3  amended to read as follows:
     4    (b)  In  addition  to  the exemption provided by paragraph (a) of this
     5  subdivision, where the veteran served in a combat theatre or combat zone
     6  of operations, as documented by the award of a  United  States  campaign
     7  ribbon  or  service medal, or the armed forces expeditionary medal, navy
     8  expeditionary medal, marine corps expeditionary medal, or global war  on
     9  terrorism  expeditionary  medal, or where the veteran served on a subma-
    10  rine or on classified missions during a period of war as  documented  by
    11  military  service  records,  qualifying  residential  real property also
    12  shall be exempt from taxation to  the  extent  of  ten  percent  of  the
    13  assessed  value of such property; provided, however, that such exemption
    14  shall not exceed eight thousand dollars or the product of eight thousand
    15  dollars multiplied by the latest state equalization rate for the assess-
    16  ing unit, or in the case of a special assessing unit, the  class  ratio,
    17  whichever is less.
    18    § 2. This act shall take effect immediately.




         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14745-02-4