Bill Text: NY S05555 | 2017-2018 | General Assembly | Introduced
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) 2018-01-03 - REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS [S05555 Detail]
Download: New_York-2017-S05555-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 5555 2017-2018 Regular Sessions IN SENATE April 12, 2017 ___________ Introduced by Sen. HANNON -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations 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 § 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 § 2. This act shall take effect on the first of January next succeed- 8 ing the date on which it shall have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD06691-02-7
