Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 17, 2014 |
held for consideration in ways and means |
Jan 08, 2014 |
referred to ways and means |
Jan 09, 2013 |
referred to ways and means |
Assembly Bill A1941
2013-2014 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
Aileen Gunther
Ellen C. Jaffee
multi-Sponsors
William A. Barclay
Janet Duprey
Dennis H. Gabryszak
Andrew R. Garbarino
2013-A1941 (ACTIVE) - Details
2013-A1941 (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.
2013-A1941 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1941 2013-2014 Regular Sessions I N A S S E M B L Y (PREFILED) January 9, 2013 ___________ Introduced by M. of A. GALEF, PAULIN, CAHILL, GUNTHER, JAFFEE, LIFTON, RIVERA, ZEBROWSKI, SCHIMEL, KOLB, FINCH, GIGLIO, McDONOUGH -- Multi- Sponsored by -- M. of A. BARCLAY, CORWIN, DUPREY, GABRYSZAK, HAWLEY, JORDAN, RABBITT, RAIA, SALADINO, SCARBOROUGH, SWEENEY, THIELE -- 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 tenants in common, and one or more than one individual is not a member of the household, qualifying real property taxes is that part of such EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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