Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jan 08, 2014 |
referred to local government |
Jan 29, 2013 |
referred to local government |
Senate Bill S3050
2013-2014 Legislative Session
Sponsored By
(R, C, IP, RFM) Senate District
Archive: Last Bill Status - In Senate Committee Local Government Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
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- On Floor Calendar Assembly
- On Floor Calendar Senate
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- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2013-S3050 (ACTIVE) - Details
2013-S3050 (ACTIVE) - Sponsor Memo
BILL NUMBER:S3050 TITLE OF BILL: An act to amend the real property tax law, in relation to extending the benefits of the STAR program to small businesses PURPOSE: To make real property owned by a small business eligible for the STAR program. SUMMARY OF PROVISIONS: Section 1 would amend subdivision 3 of section 425 of the real property tax law by adding real property owned by a small business to the list of categories eligible for the STAR program, and defines "small business" as one which employs twenty persons or less. Section 2 provides for an immediate effective date, applicable to taxable years beginning on and after January 1, 2013. JUSTIFICATION: The STAR program provides for a partial exemption from school property taxes for owner-occupied, primary residences. Senior citizens were the first to benefit based on income eligibility, and the program has since been extended to include all New Yorkers who own their own home. STAR works by exempting a portion of the property's assessed valuation from the school tax rate. This bill would expand the STAR program to real property owned by small businesses (twenty or less employees). The same economic pressures that have been brought to bear on senior citizens and residential home owners have affected
2013-S3050 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3050 2013-2014 Regular Sessions I N S E N A T E January 29, 2013 ___________ Introduced by Sen. SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the real property tax law, in relation to extending the benefits of the STAR program to small businesses THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 3 of section 425 of the real property tax law, as added by section 1 of part B of chapter 389 of the laws of 1997, paragraph (a) as amended by chapter 264 of the laws of 2000, paragraph (b-1) as added by section 1 of part FF of chapter 57 of the laws of 2010, paragraph (d) as added by chapter 443 of the laws of 2003, para- graph (e) as added by section 2 of part W of chapter 57 of the laws of 2008, and paragraph (f) as added by section 1 of part B of chapter 59 of the laws of 2012, is amended to read as follows: 3. Eligibility requirements. (a) Property use. To qualify for exemption pursuant to this section, the property must be a one, two or three family residence, a farm dwelling, A SMALL BUSINESS or residential property held in condominium or cooperative form of ownership. If the property is not an eligible type of property, but a portion of the prop- erty is partially used by the owner as a primary residence, that portion which is so used shall be entitled to the exemption provided by this section; provided that in no event shall the exemption exceed the assessed value attributable to that portion. (b) Primary residence. The property must serve as the primary resi- dence of one or more of the owners thereof, UNLESS SUCH PROPERTY IS OWNED BY A SMALL BUSINESS AS DEFINED IN PARAGRAPH (G) OF THIS SUBDIVI- SION. (b-1) Income. For final assessment rolls to be used for the levy of taxes for the two thousand eleven-two thousand twelve school year and thereafter, the parcel's affiliated income may be no greater than five hundred thousand dollars, as determined by the commissioner of taxation EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06744-01-3
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