Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 04, 2012 |
referred to veterans, homeland security and military affairs |
Jan 25, 2011 |
referred to veterans, homeland security and military affairs |
Senate Bill S2536
2011-2012 Legislative Session
Sponsored By
(D, WF) 12th Senate District
Archive: Last Bill Status - In Senate Committee Veterans, Homeland Security And Military Affairs 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
2011-S2536 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A4878
- Current Committee:
- Senate Veterans, Homeland Security And Military Affairs
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd ยง458, RPT L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
A3531
2013-2014: S592, A2124
2011-S2536 (ACTIVE) - Sponsor Memo
BILL NUMBER:S2536 TITLE OF BILL: An act to amend the real property tax law, in relation to increasing exemption for veterans PURPOSE OR GENERAL IDEA: Amends paragraph two, subdivision one of Section 458 of the Real Property Tax Law to increase the exemption a veteran may receive on real property purchased with eligible funds from the present $5,000 to $7,500 of the assessed value of that property. SUMMARY OF SPECIFIC PROVISIONS: Amends paragraph two, subdivision one of Section 458 of the Real Property Tax Law to provide that real property owned by a veteran shall be exempt up to $7,500 of assessed valuation when the property shall have been purchased with eligible funds. Any established or newly claimed exemption in excess of fifty dollars shall be allowed as the nearest multiple of fifty dollars and if there is no nearest multiple of fifty dollars the exemption shall be allowed in the amount of the next higher multiple of fifty dollars. Claims for exemption can be granted even if there is a mingling of such eligible funds with other funds or their retention by the United States for insurance premiums.
2011-S2536 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2536 2011-2012 Regular Sessions I N S E N A T E January 25, 2011 ___________ Introduced by Sen. GIANARIS -- read twice and ordered printed, and when printed to be committed to the Committee on Veterans, Homeland Securi- ty and Military Affairs AN ACT to amend the real property tax law, in relation to increasing exemption for veterans THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 2 of subdivision 1 of section 458 of the real property tax law, as amended by chapter 488 of the laws of 1998, is amended to read as follows: (2) Except as provided in subdivision five of this section, no such exemption on account of eligible funds paid on account of military or naval services rendered by an individual shall be allowed in excess of [five] SEVEN thousand FIVE HUNDRED dollars. For the purposes of this subdivision any established exemption, or newly claimed exemption, or an aggregate thereof, as the case may be, in excess of any multiple of fifty dollars shall be regarded as being the nearest multiple of fifty dollars and allowed in such amount. If the amount of such exemption has no nearest multiple of fifty dollars, it shall be regarded as being the next higher multiple of fifty dollars and allowed in such amount. The mingling of such eligible funds with other funds or their retention by the United States for insurance premiums shall not bar the granting of a claim for such exemption. S 2. This act shall take effect on the first of July next succeeding 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. LBD05757-01-1
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.