Bill Text: NY A03683 | 2021-2022 | General Assembly | Introduced

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Bill Title: Excludes from the income calculation all traveling expenses incurred for attending medical appointments and/or treatment for the persons sixty-five years of age or over real property tax exemption.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-05 - referred to aging [A03683 Detail]

Download: New_York-2021-A03683-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          3683

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                    January 28, 2021
                                       ___________

        Introduced  by M. of A. GRIFFIN -- read once and referred to the Commit-
          tee on Aging

        AN ACT to amend the real property tax law, in relation to excluding from
          the income calculation, certain travel expenses incurred  by  military
          veterans  attending  medical  appointments  and/or  treatment  for the
          persons sixty-five years of age or over real property tax exemption

          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 3 of section 467 of the real
     2  property tax law, as separately amended by chapters 131 and 279  of  the
     3  laws of 2017, is amended to read as follows:
     4    (a) if the income of the owner or the combined income of the owners of
     5  the  property  for the income tax year immediately preceding the date of
     6  making application for exemption  exceeds  the  sum  of  three  thousand
     7  dollars, or such other sum not less than three thousand dollars nor more
     8  than twenty-six thousand dollars beginning July first, two thousand six,
     9  twenty-seven  thousand dollars beginning July first, two thousand seven,
    10  twenty-eight thousand dollars beginning July first, two thousand  eight,
    11  twenty-nine  thousand  dollars  beginning July first, two thousand nine,
    12  and in a city with a population of one million or  more  fifty  thousand
    13  dollars beginning July first, two thousand seventeen, as may be provided
    14  by  the  local  law,  ordinance  or  resolution adopted pursuant to this
    15  section. Income tax year shall mean the twelve month  period  for  which
    16  the owner or owners filed a federal personal income tax return, or if no
    17  such return is filed, the calendar year. Where title is vested in either
    18  the  husband or the wife, their combined income may not exceed such sum,
    19  except where the husband or wife, or ex-husband  or  ex-wife  is  absent
    20  from  the  property as provided in subparagraph (ii) of paragraph (d) of
    21  this subdivision, then only the income of the spouse or ex-spouse resid-
    22  ing on the property shall be considered and may  not  exceed  such  sum.
    23  Such  income  shall  include  social  security  and retirement benefits,

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07123-01-1
        A. 3683                             2

     1  interest, dividends, total gain from the sale or exchange of  a  capital
     2  asset which may be offset by a loss from the sale or exchange of a capi-
     3  tal  asset  in  the  same  income tax year, net rental income, salary or
     4  earnings,  and  net income from self-employment, but shall not include a
     5  return of capital, gifts, inheritances,  payments  made  to  individuals
     6  because  of  their  status as victims of Nazi persecution, as defined in
     7  P.L. 103-286 or monies earned through employment in the  federal  foster
     8  grandparent  program  and any such income shall be offset by all medical
     9  and prescription drug  expenses  actually  paid,  including  any  travel
    10  expenses incurred by military veterans for required travel to and from a
    11  veterans  health administration hospital for medical appointments and/or
    12  treatment, which were not reimbursed or paid for by  insurance,  if  the
    13  governing  board  of  a  municipality,  after a public hearing, adopts a
    14  local law, ordinance or resolution providing therefor. In  addition,  an
    15  exchange  of  an annuity for an annuity contract, which resulted in non-
    16  taxable gain, as determined in section one thousand thirty-five  of  the
    17  internal revenue code, shall be excluded from such income. Provided that
    18  such  exclusion  shall  be  based  on  satisfactory  proof  that such an
    19  exchange was solely an exchange of an annuity for  an  annuity  contract
    20  that  resulted  in  a non-taxable transfer determined by such section of
    21  the internal revenue code. Furthermore, such income  shall  not  include
    22  the  proceeds  of  a reverse mortgage, as authorized by section six-h of
    23  the banking law, and sections two hundred eighty and two hundred  eight-
    24  y-a  of  the  real  property law; provided, however, that monies used to
    25  repay a reverse mortgage may not be deducted from income,  and  provided
    26  additionally that any interest or dividends realized from the investment
    27  of  reverse mortgage proceeds shall be considered income. The provisions
    28  of this paragraph notwithstanding, such income shall not include  veter-
    29  ans disability compensation, as defined in Title 38 of the United States
    30  Code  provided  the  governing  board of such municipality, after public
    31  hearing, adopts a local law, ordinance or resolution providing therefor.
    32  In computing net rental income and net income  from  self-employment  no
    33  depreciation  deduction  shall  be  allowed for the exhaustion, wear and
    34  tear of real or personal property held for the production of income;
    35    § 2. This act shall take effect immediately.