Bill Text: NY S09785 | 2023-2024 | General Assembly | Introduced

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Bill Title: Relates to assessments for certain real property tax exemptions to include years where there is sufficient data to determine an applicant's eligibility for exemptions.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2024-12-13 - SIGNED CHAP.592 [S09785 Detail]

Download: New_York-2023-S09785-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          9785

                    IN SENATE

                                      May 30, 2024
                                       ___________

        Introduced  by  Sen.  CLEARE  -- (at request of the NYC Finance) -- read
          twice and ordered printed, and when printed to  be  committed  to  the
          Committee on Aging

        AN  ACT to amend the real property tax law, in relation to the appropri-
          ate tax year for assessing income requirements for certain real  prop-
          erty tax exemptions in a city with a population of one million or more

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

     1    Section 1. Clause 1 of subparagraph (v) of paragraph (a)  of  subdivi-
     2  sion  5 of section 459-c of the real property tax law, as added by chap-
     3  ter 276 of the laws of 2023, is amended to read as follows:
     4    (1) except as provided in clause two of this  subparagraph,  the  term
     5  "income"  as used in this section shall mean the "adjusted gross income"
     6  for federal income tax purposes as reported on the  applicant's  federal
     7  or  state  income  tax return for the most recent income tax year [imme-
     8  diately preceding the date of application] or years for  which  data  is
     9  sufficiently  available  to  determine  the  applicant's eligibility for
    10  exemptions pursuant to this section, subject to  any  subsequent  amend-
    11  ments  or  revisions, minus any distributions, to the extent included in
    12  federal adjusted gross income, received from  an  individual  retirement
    13  account  and  an individual retirement annuity; provided that if no such
    14  return was filed for such income tax year, the applicant's income  shall
    15  be  determined  based on the amounts that would have so been reported if
    16  such a return had been filed; and
    17    § 2. Clause 1 of subparagraph (v) of paragraph (a) of subdivision 3 of
    18  section 467 of the real property tax law, as added by chapter 276 of the
    19  laws of 2023, is amended to read as follows:
    20    (1) Except as provided in clause two of this  subparagraph,  the  term
    21  "income"  as used in this section shall mean the "adjusted gross income"
    22  for federal income tax purposes as reported on the  applicant's  federal
    23  or  state  income  tax return for the most recent income tax year [imme-
    24  diately preceding the date of application] or years for  which  data  is
    25  sufficiently  available  to  determine  the  applicant's eligibility for
    26  exemptions pursuant to this section, subject to  any  subsequent  amend-

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15770-01-4
        S. 9785                             2

     1  ments  or  revisions, minus any distributions, to the extent included in
     2  federal adjusted gross income, received from  an  individual  retirement
     3  account  and  an individual retirement annuity; provided that if no such
     4  return  was filed for such income tax year, the applicant's income shall
     5  be determined based on the amounts that would have so been  reported  if
     6  such a return had been filed; and
     7    §  3.  Clause (A) of subparagraph (ii) of paragraph c of subdivision 1
     8  of section 467-b of the real property tax law, as amended by chapter 276
     9  of the laws of 2023, is amended to read as follows:
    10    (A) the sum of the adjusted gross  incomes  reported  on  the  federal
    11  income  tax returns of the applicant and all other members of the appli-
    12  cant's household for  the  most  recent  income  tax  year  [immediately
    13  preceding  the  date  of  application] or years for which data is suffi-
    14  ciently  available  to  determine  the   applicant's   eligibility   for
    15  exemptions  pursuant  to  this section, subject to any subsequent amend-
    16  ments or revisions, less any distributions, to the  extent  included  in
    17  each  such adjusted gross income, received from an individual retirement
    18  account or retirement annuity; provided  that  if  no  such  income  tax
    19  return  was  filed  by  any member of the applicant's household for such
    20  income tax year, the income of such applicant or member  of  the  appli-
    21  cant's household shall be determined as if such a return had been filed;
    22    §  4.  Clause (i) of subparagraph 2 of paragraph f of subdivision 1 of
    23  section 467-c of the real property tax law, as amended by chapter 276 of
    24  the laws of 2023, is amended to read as follows:
    25    (i) the sum of the adjusted gross  incomes  reported  on  the  federal
    26  income  tax returns of the applicant and all other members of the appli-
    27  cant's household for  the  most  recent  income  tax  year  [immediately
    28  preceding  the  date  of  application] or years for which data is suffi-
    29  ciently  available  to  determine  the   applicant's   eligibility   for
    30  exemptions  pursuant  to  this section, subject to any subsequent amend-
    31  ments or revisions, less any distributions, to the  extent  included  in
    32  each  such adjusted gross income, received from an individual retirement
    33  account or retirement annuity; provided  that  if  no  such  income  tax
    34  return  was  filed  by  any member of the applicant's household for such
    35  income tax year, the income of such applicant or member  of  the  appli-
    36  cant's household shall be determined as if such a return had been filed;
    37    §  5.  This  act  shall take effect immediately and shall be deemed to
    38  have been in full force and effect on and after May 3, 2023.