Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 01, 2010 |
held for consideration in ways and means |
Jan 06, 2010 |
referred to ways and means |
Mar 20, 2009 |
referred to ways and means |
Assembly Bill A7094
2009-2010 Legislative Session
Sponsored By
GALEF
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
Amy Paulin
Kevin Cahill
Mike Spano
Daniel Burling
multi-Sponsors
George Amedore
James Bacalles
Greg Ball
William A. Barclay
2009-A7094 (ACTIVE) - Details
2009-A7094 (ACTIVE) - Summary
Establishes a personal income tax credit for a portion of a taxpayer's residential real property taxes which exceeds a certain percentage of the taxpayer's household gross income; provides that the taxpayer shall have resided in such residential real property for not less than 5 years; provides that such credit shall not apply to taxpayers who have claimed the real property tax circuit breaker credit during the taxable year.
2009-A7094 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7094 2009-2010 Regular Sessions I N A S S E M B L Y March 20, 2009 ___________ Introduced by M. of A. GALEF, PAULIN, BRADLEY, CAHILL, SPANO, BURLING, KOLB, ALESSI, DelMONTE, EDDINGTON, FIELDS, JAFFEE, JOHN, KOON, LIFTON, J. RIVERA, P. RIVERA, ZEBROWSKI, ERRIGO, FINCH, GIGLIO, McDONOUGH, SAYWARD, SCOZZAFAVA, WALKER -- Multi-Sponsored by -- M. of A. AMEDORE, BACALLES, BARCLAY, CALHOUN, CHRISTENSEN, CONTE, DESTITO, DUPREY, GORDON, HAWLEY, HAYES, HYER-SPENCER, MILLER, MOLINARO, PHEFFER, QUINN, RABBITT, RAIA, REILLY, SALADINO, STIRPE, SWEENEY, THIELE, TOBACCO -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to the school district property tax credit and establishing the maximum residential real property, personal income tax credit THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph (E) of paragraph 1 of subsection (e) of section 606 of the tax law, as amended by chapter 105 of the laws of 2006, is amended to read as follows: (E) "Qualifying real property taxes" means all real property taxes, special ad valorem levies and special assessments, exclusive of penal- ties and interest, levied on the residence of a qualified taxpayer and paid during the taxable year [less the credit claimed under subsection (n-1) of this section]. In addition, for taxable years beginning after December thirty-first, nineteen hundred eighty-four, a qualified taxpay- er may elect to include any additional amount that would have been levied in the absence of an exemption from real property taxation pursu- ant to section four hundred sixty-seven of the real property tax law. If tenant-stockholders in a cooperative housing corporation have met the requirements of section two hundred sixteen of the internal revenue code by which they are allowed a deduction for real estate taxes, the amount of taxes so allowable, or which would be allowable if the taxpayer had filed returns on a cash basis, shall be qualifying real property taxes. If a residence is owned by two or more individuals as joint tenants or EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00111-01-9
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