Bill Text: NY S05421 | 2023-2024 | General Assembly | Amended


Bill Title: Relates to raising the income cap for senior citizens applying for the enhanced STAR property tax exemption to $120,000.

Spectrum: Partisan Bill (Republican 3-0)

Status: (Introduced) 2024-03-11 - PRINT NUMBER 5421A [S05421 Detail]

Download: New_York-2023-S05421-Amended.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                         5421--A

                               2023-2024 Regular Sessions

                    IN SENATE

                                      March 3, 2023
                                       ___________

        Introduced  by  Sens.  PALUMBO,  CANZONERI-FITZPATRICK -- read twice and
          ordered printed, and when printed to be committed to the Committee  on
          Aging  --  recommitted  to  the  Committee on Aging 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 real property tax law, in relation to raising the
          income cap for senior citizens applying for the enhanced STAR property
          tax exemption

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

     1    Section  1.  Subparagraph  (i)  of  paragraph  (b) of subdivision 4 of
     2  section 425 of the real property tax law is  amended  by  adding  a  new
     3  clause (B-1) to read as follows:
     4    (B-1) For final assessment rolls to be completed in two thousand twen-
     5  ty-four,  eligibility  for  the exemption shall be based upon income for
     6  the income tax year immediately preceding the date of making application
     7  for the exemption, and the income standard shall be one  hundred  twenty
     8  thousand dollars.
     9    § 2. This act shall take effect immediately and shall apply to all tax
    10  years commencing on or after such date.




         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00651-03-4
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