Bill Text: NY S03903 | 2013-2014 | General Assembly | Amended
Bill Title: Authorizes school tax reductions of 25% for residents in communities that restrict ownership to those fifty-five years of age and older.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2014-01-30 - PRINT NUMBER 3903A [S03903 Detail]
Download: New_York-2013-S03903-Amended.html
S T A T E O F N E W Y O R K ________________________________________________________________________ 3903--A 2013-2014 Regular Sessions I N S E N A T E February 26, 2013 ___________ Introduced by Sen. HANNON -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations -- recommitted to the Committee on Investigations and Government Operations in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to school tax reductions for residents in communities that restrict ownership to those fifty-five years of age and older THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: 1 Section 1. The tax law is amended by adding a new section 1232 to read 2 as follows: 3 S 1232. SCHOOL TAX REDUCTION. IN ANY COMMUNITY WHERE ZONING REGU- 4 LATIONS RESTRICT OWNERSHIP TO THOSE FIFTY-FIVE YEARS OF AGE AND OLDER, 5 SUCH RESIDENTS SHALL BE ELIGIBLE FOR A TWENTY-FIVE PERCENT REDUCTION IN 6 SCHOOL TAXES UPON APPROVAL BY THE LOCAL TOWN OR VILLAGE. 7 S 2. This act shall take effect on the thirtieth day after it shall 8 have become a law and shall apply to taxable years beginning on or after 9 January 1, 2015. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03771-03-4