Bill Text: NY A03857 | 2009-2010 | General Assembly | Introduced

New York Assembly Bill 3857 (Prior Session Legislation)

Introduced

Bill Title: An act to amend the tax law, in relation to the determination of the value of real estate for purposes of qualifying for the personal income tax real property tax circuit breaker credit

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-01-06 - referred to aging [A03857 Detail]

Download: New_York-2009-A03857-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         3857
                              2009-2010 Regular Sessions
                                 I N  A S S E M B L Y
                                   January 28, 2009
                                      ___________
       Introduced  by  M.  of  A.  ENGLEBRIGHT -- read once and referred to the
         Committee on Aging
       AN ACT to amend the tax law, in relation to  the  determination  of  the
         value  of  real  estate  for  purposes  of qualifying for the personal
         income tax real property tax circuit breaker credit
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Subparagraph  (C)  of  paragraph  7  of subsection (e) of
    2  section 606 of the tax law, as amended by chapter  28  of  the  laws  of
    3  1987, is amended to read as follows:
    4    (C)  To  a  property  owner  who owns real property, the full value of
    5  which exceeds eighty-five thousand dollars OR THE MEDIAN SALES PRICE  OF
    6  REAL  PROPERTY  IN  THE  COUNTY  IN  WHICH THE REAL PROPERTY IS LOCATED,
    7  WHICHEVER IS GREATER, AS DETERMINED BY THE STATE BOARD OF REAL  PROPERTY
    8  SERVICES.
    9    S 2. This act shall take effect immediately and shall apply to taxable
   10  years commencing on or after January 1, 2010.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06961-01-9