Bill Text: NY A03224 | 2023-2024 | General Assembly | Introduced
Bill Title: Prevents the transition of the school tax relief property tax exemption to a personal income tax credit.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced) 2024-07-15 - enacting clause stricken [A03224 Detail]
Download: New_York-2023-A03224-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 3224 2023-2024 Regular Sessions IN ASSEMBLY February 2, 2023 ___________ Introduced by M. of A. ZEBROWSKI -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law and the tax law, in relation to preventing the transitioning of the school tax relief (STAR) exemption into a personal income tax credit; and repealing certain provisions of the real property tax law and the tax law relating ther- eto The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (a) of subdivision 6 of section 425 of the real 2 property tax law, as amended by section 1 of part A of chapter 60 of the 3 laws of 2016, is amended to read as follows: 4 (a) Generally. All owners of the property who primarily reside thereon 5 [and who are not subject to the provisions of subdivision sixteen of6this section] must jointly file an application for exemption with the 7 assessor on or before the appropriate taxable status date. Such applica- 8 tion may be filed by mail if it is enclosed in a postpaid envelope prop- 9 erly addressed to the appropriate assessor, deposited in a post office 10 or official depository under the exclusive care of the United States 11 postal service, and postmarked by the United States postal service on or 12 before the applicable taxable status date. Each such application shall 13 be made on a form prescribed by the commissioner, which shall require 14 the applicant or applicants to agree to notify the assessor if their 15 primary residence changes while their property is receiving the 16 exemption. The assessor may request that proof of residency be submitted 17 with the application. If the applicant requests a receipt from the 18 assessor as proof of submission of the application, the assessor shall 19 provide such receipt. If such request is made by other than personal 20 request, the applicant shall provide the assessor with a self-addressed 21 postpaid envelope in which to mail the receipt. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD06501-01-3A. 3224 2 1 § 2. Subdivision 16 of section 425 of the real property tax law is 2 REPEALED. 3 § 3. Subdivision 2 of section 496 of the real property tax law, as 4 amended by section 3 of part A of chapter 60 of the laws of 2016, para- 5 graph (a) as amended by section 3 and paragraph (d) as amended by 6 section 2 of part TT of chapter 59 of the laws of 2019, is amended to 7 read as follows: 8 2. An application to renounce an exemption shall be made on a form 9 prescribed by the commissioner and shall be filed with the county direc- 10 tor of real property tax services no later than ten years after the levy 11 of taxes upon the assessment roll on which the renounced exemption 12 appears. The county director, after consulting with the assessor as 13 appropriate, shall compute the total amount owed on account of the 14 renounced exemption as follows: 15 (a) For each assessment roll on which the renounced exemption appears, 16 the assessed value that was exempted shall be multiplied by the tax rate 17 or rates that were applied to that assessment roll, or in the case of a 18 renounced STAR exemption, the tax savings calculated pursuant to subdi- 19 vision two of section thirteen hundred six-a of this chapter. Interest 20 shall then be added to each such product at the rate prescribed by 21 section nine hundred twenty-four-a of this chapter or such other law as 22 may be applicable for each month or portion thereon since the levy of 23 taxes upon such assessment roll. 24 (b) The sum of the calculations made pursuant to paragraph (a) of this 25 subdivision with respect to all of the assessment rolls in question 26 shall be determined. 27 (c) A processing fee of five hundred dollars shall be added to the sum 28 determined pursuant to paragraph (b) of this subdivision[, unless the29provisions of paragraph (d) of this subdivision are applicable.30(d) If the applicant is renouncing a STAR exemption in order to quali-31fy for the personal income tax credit authorized by subsection (eee) of32section six hundred six of the tax law, and no other exemptions are33being renounced on the same application, or if the applicant is renounc-34ing a STAR exemption before school taxes have been levied on the assess-35ment roll upon which that exemption appears, no processing fee shall be36applicable]. 37 § 4. Subdivision 6 of section 1306-a of the real property tax law is 38 REPEALED. 39 § 5. Subsection (eee) of section 606 of the tax law is REPEALED. 40 § 6. Paragraph 2 of subsection (n-1) of section 606 of the tax law, as 41 amended by section 1 of part BB of chapter 59 of the laws of 2022, is 42 amended to read as follows: 43 (2) To be eligible for the credit, the taxpayer (or taxpayers filing 44 joint returns) (a) must own and primarily reside in real property 45 receiving [either] the STAR exemption authorized by section four hundred 46 twenty-five of the real property tax law [or the school tax relief cred-47it authorized by subsection (eee) of this section], and (b) must have 48 had qualified gross income no greater than two hundred fifty thousand 49 dollars in tax year two thousand twenty. 50 § 7. This act shall take effect immediately.
