Bill Text: NY A04844 | 2021-2022 | General Assembly | Introduced


Bill Title: Includes distributions to an employer sponsored retirement plan in the definition of "income" for determining eligibility in the school tax relief program (STAR).

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced - Dead) 2022-01-05 - referred to real property taxation [A04844 Detail]

Download: New_York-2021-A04844-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                          4844

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                    February 8, 2021
                                       ___________

        Introduced  by  M.  of  A.  B. MILLER  --  read once and referred to the
          Committee on Real Property Taxation

        AN ACT to amend the real property tax law, in relation  to  an  employer
          sponsored retirement plan

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

     1    Section 1. Subparagraph (ii) of paragraph  (b)  of  subdivision  4  of
     2  section  425  of  the  real property tax law, as amended by section 1 of
     3  part B of chapter 59 of the laws of 2018, is amended to read as follows:
     4    (ii) The term "income" as used herein shall mean the  "adjusted  gross
     5  income"  for  federal income tax purposes as reported on the applicant's
     6  federal or state income tax return for the applicable income  tax  year,
     7  subject  to  any subsequent amendments or revisions, reduced by distrib-
     8  utions, to  the  extent  included  in  federal  adjusted  gross  income,
     9  received from an individual retirement account and an individual retire-
    10  ment annuity and an employer sponsored retirement plan; provided that if
    11  no  such  return  was filed for the applicable income tax year, "income"
    12  shall mean the adjusted gross income that would have been so reported if
    13  such a return had been filed.   Provided further,  that  effective  with
    14  exemption applications for final assessment rolls to be completed in two
    15  thousand  nineteen,  where an income-eligibility determination is wholly
    16  or partly based upon the income of one or more individuals who  did  not
    17  file  a return for the applicable income tax year, then in order for the
    18  application to be considered complete, each such individual must file  a
    19  statement  with  the  department showing the source or sources of his or
    20  her income for that income tax year, and the amount or amounts  thereof,
    21  that  would  have  been reported on such a return if one had been filed.
    22  Such statement shall be filed at such time, and in such form and manner,
    23  as may be prescribed by the department, and  shall  be  subject  to  the
    24  secrecy  provisions  of  the  tax law to the same extent that a personal
    25  income tax return would be.  The department shall make  such  forms  and

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08829-01-1

        A. 4844                             2

     1  instructions  available  for  the  filing  of such statements. The local
     2  assessor shall upon the request of a taxpayer assist  such  taxpayer  in
     3  the filing of the statement with the department.
     4    § 2. This act shall take effect immediately.
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