S T A T E   O F   N E W   Y O R K
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                                  3086

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 22, 2009
                               ___________

Introduced  by M. of A. ROBINSON, ENGLEBRIGHT, TOWNS, J. RIVERA, SCHROE-
  DER -- Multi-Sponsored by -- M.  of  A.  ABBATE,  BENEDETTO,  BOYLAND,
  BRADLEY,  CAHILL,  CHRISTENSEN,  COLTON,  DINOWITZ,  FARRELL, GUNTHER,
  JOHN, LUPARDO, MARKEY, McENENY, MILLMAN, PHEFFER,  REILLY,  SEMINERIO,
  WEISENBERG  --  read  once  and referred to the Committee on Veterans'
  Affairs

AN ACT to amend the real property tax law, in  relation  to  the  senior
  citizen exemption and veteran disability compensation

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph (a) of subdivision 3 of section 467 of  the  real
property  tax  law,  as  amended  by chapter 186 of the laws of 2006, is
amended to read as follows:
  (a) if the income of the owner or the combined income of the owners of
the property for the income tax year immediately preceding the  date  of
making  application  for  exemption  exceeds  the  sum of three thousand
dollars, or such other sum not less than three thousand dollars nor more
than twenty-six thousand dollars beginning July first, two thousand six,
twenty-seven thousand dollars beginning July first, two thousand  seven,
twenty-eight  thousand dollars beginning July first, two thousand eight,
and twenty-nine thousand dollars  beginning  July  first,  two  thousand
nine,  as  may  be  provided  by  the local law, ordinance or resolution
adopted pursuant to this section. Income tax year shall mean the  twelve
month  period  for  which  the  owner or owners filed a federal personal
income tax return, or if no such return is  filed,  the  calendar  year.
Where  title is vested in either the husband or the wife, their combined
income may not exceed such sum, except where the  husband  or  wife,  or
ex-husband or ex-wife is absent from the property as provided in subpar-
agraph  (ii)  of paragraph (d) of this subdivision, then only the income
of the spouse or ex-spouse residing on the property shall be  considered
and  may  not exceed such sum. Such income shall include social security

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01858-01-9
              

A. 3086                             2

and retirement benefits, interest, dividends, total gain from  the  sale
or  exchange  of  a capital asset which may be offset by a loss from the
sale or exchange of a capital asset in the same  income  tax  year,  net
rental  income, salary or earnings, and net income from self-employment,
but shall not include a return of capital, gifts, inheritances,  VETERAN
DISABILITY  COMPENSATION,  AS  DEFINED  IN TITLE 38 OF THE UNITED STATES
CODE, payments made to individuals because of their status as victims of
Nazi persecution, as defined in P.L. 103-286 or  monies  earned  through
employment in the federal foster grandparent program and any such income
shall  be  offset by all medical and prescription drug expenses actually
paid which were not reimbursed or paid for by insurance, if the  govern-
ing board of a municipality, after a public hearing, adopts a local law,
ordinance  or  resolution  providing therefor.   [The provisions of this
paragraph notwithstanding, such income shall not include veterans  disa-
bility  compensation,  as  defined in Title 38 of the United States Code
provided the governing board of such municipality, after public hearing,
adopts a local law, ordinance  or  resolution  providing  therefor.]  In
computing  net  rental  income  and  net  income from self-employment no
depreciation deduction shall be allowed for  the  exhaustion,  wear  and
tear of real or personal property held for the production of income;
  S  2.  This act shall take effect immediately and shall apply to those
assessment rolls having a taxable status date on or after January  first
of  the  year  next  succeeding the year in which it shall have become a
law.