S T A T E   O F   N E W   Y O R K
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                                  8486

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             October 9, 2015
                               ___________

Introduced  by M. of A. ORTIZ -- read once and referred to the Committee
  on Real Property Taxation

AN ACT to amend the real property tax law, in relation  to  establishing
  an exemption for reservists

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

  Section 1. The real property tax  law  is  amended  by  adding  a  new
section 458-c to read as follows:
  S  458-C. RESERVIST EXEMPTION. 1. THE FOLLOWING TERMS WHENEVER USED OR
REFERRED TO IN THIS SECTION SHALL HAVE THE FOLLOWING MEANINGS  UNLESS  A
DIFFERENT MEANING CLEARLY APPEARS IN THE CONTEXT:
  (A)  "RESERVIST"  MEANS ANY MEMBER OF THE FEDERAL RESERVE FORCE OF THE
UNITED STATES MILITARY.
  (B) "PERIOD OF WAR" MEANS THE SPANISH-AMERICAN WAR; THE MEXICAN BORDER
PERIOD; WORLD WAR I; WORLD WAR II; THE HOSTILITIES, KNOWN AS THE  KOREAN
WAR,  WHICH  COMMENCED  JUNE  TWENTY-SEVENTH, NINETEEN HUNDRED FIFTY AND
TERMINATED ON JANUARY THIRTY-FIRST,  NINETEEN  HUNDRED  FIFTY-FIVE;  THE
HOSTILITIES,  KNOWN AS THE VIETNAM WAR, WHICH COMMENCED FEBRUARY TWENTY-
EIGHTH, NINETEEN HUNDRED SIXTY-ONE AND TERMINATED ON MAY SEVENTH,  NINE-
TEEN  HUNDRED  SEVENTY-FIVE;  AND  THE HOSTILITIES, KNOWN AS THE PERSIAN
GULF CONFLICT, WHICH COMMENCED AUGUST SECOND, NINETEEN HUNDRED NINETY.
  (C) "SERVICE CONNECTED" MEANS, WITH RESPECT TO  DISABILITY  OR  DEATH,
THAT  SUCH  DISABILITY  WAS  INCURRED  OR  AGGRAVATED, OR THAT THE DEATH
RESULTED FROM A DISABILITY INCURRED OR AGGRAVATED, IN LINE  OF  DUTY  IN
THE ACTIVE MILITARY, NAVAL OR AIR SERVICE.
  (D)  "QUALIFIED OWNER" MEANS A RESERVIST, THE SPOUSE OF A RESERVIST OR
THE UNREMARRIED SURVIVING SPOUSE OF A RESERVIST. WHERE PROPERTY IS OWNED
BY MORE THAN ONE QUALIFIED OWNER, THE EXEMPTION TO WHICH EACH  IS  ENTI-
TLED  MAY BE COMBINED. WHERE A RESERVIST IS ALSO THE UNREMARRIED SURVIV-
ING SPOUSE OF A RESERVIST OR VETERAN, SUCH PERSON MAY ALSO  RECEIVE  ANY
EXEMPTION TO WHICH THE DECEASED SPOUSE WAS ENTITLED.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03488-01-5
              

A. 8486                             2

  (E)  "QUALIFYING  RESIDENTIAL REAL PROPERTY" MEANS PROPERTY OWNED BY A
QUALIFIED OWNER WHICH IS  USED  EXCLUSIVELY  FOR  RESIDENTIAL  PURPOSES;
PROVIDED  HOWEVER, THAT IN THE EVENT ANY PORTION OF SUCH PROPERTY IS NOT
SO USED EXCLUSIVELY FOR RESIDENTIAL  PURPOSES  BUT  IS  USED  FOR  OTHER
PURPOSES,  SUCH  PORTION  SHALL BE SUBJECT TO TAXATION AND THE REMAINING
PORTION ONLY SHALL  BE  ENTITLED  TO  THE  EXEMPTION  PROVIDED  BY  THIS
SECTION. SUCH PROPERTY MUST BE THE PRIMARY RESIDENCE OF THE RESERVIST OR
UNREMARRIED  SURVIVING  SPOUSE OF THE RESERVIST, UNLESS THE RESERVIST OR
UNREMARRIED SURVIVING SPOUSE IS ABSENT FROM THE PROPERTY DUE TO  MEDICAL
REASONS  OR  INSTITUTIONALIZATION.  IN  THE EVENT THE RESERVIST DIES AND
THERE IS NO UNREMARRIED SURVIVING SPOUSE, "QUALIFYING  RESIDENTIAL  REAL
PROPERTY"  SHALL  MEAN  THE PRIMARY RESIDENCE OWNED BY A QUALIFIED OWNER
PRIOR TO DEATH, PROVIDED THAT THE TITLE TO THE PROPERTY  BECOMES  VESTED
IN  THE  DEPENDENT FATHER OR MOTHER OR DEPENDENT CHILD OR CHILDREN UNDER
TWENTY-ONE YEARS OF AGE OF A RESERVIST BY VIRTUE OF DEVISE BY OR DESCENT
FROM THE DECEASED QUALIFIED OWNER, PROVIDED THAT  THE  PROPERTY  IS  THE
PRIMARY RESIDENCE OF ONE OR ALL OF THE DEVISEES.
  (F)  "LATEST  STATE  EQUALIZATION  RATE"  MEANS THE LATEST FINAL STATE
EQUALIZATION RATE  OR  SPECIAL  EQUALIZATION  RATE  ESTABLISHED  BY  THE
COMMISSIONER PURSUANT TO ARTICLE TWELVE OF THIS CHAPTER. THE COMMISSION-
ER  SHALL  ESTABLISH  A SPECIAL EQUALIZATION RATE IF IT FINDS THAT THERE
HAS BEEN A MATERIAL CHANGE IN THE LEVEL OF ASSESSMENT SINCE  THE  ESTAB-
LISHMENT  OF  THE  LATEST STATE EQUALIZATION RATE, BUT IN NO EVENT SHALL
SUCH SPECIAL EQUALIZATION RATE EXCEED ONE HUNDRED.   IN THE  EVENT  THAT
THE  STATE  EQUALIZATION RATE EXCEEDS ONE HUNDRED, THEN THE STATE EQUAL-
IZATION RATE SHALL BE ONE HUNDRED FOR  THE  PURPOSES  OF  THIS  SECTION.
WHERE  A  SPECIAL  EQUALIZATION RATE IS ESTABLISHED FOR PURPOSES OF THIS
SECTION, THE ASSESSOR IS DIRECTED AND AUTHORIZED TO RECOMPUTE THE RESER-
VIST EXEMPTION ON THE ASSESSMENT ROLL BY APPLYING SUCH SPECIAL EQUALIZA-
TION RATE INSTEAD OF THE LATEST STATE EQUALIZATION RATE APPLIED  IN  THE
PREVIOUS  YEAR AND TO MAKE THE APPROPRIATE CORRECTIONS ON THE ASSESSMENT
ROLL, NOTWITHSTANDING THE  FACT  THAT  SUCH  ASSESSOR  MAY  RECEIVE  THE
SPECIAL  EQUALIZATION RATE AFTER THE COMPLETION, VERIFICATION AND FILING
OF SUCH FINAL ASSESSMENT ROLL. IN THE EVENT THAT THE ASSESSOR  DOES  NOT
HAVE  CUSTODY  OF  THE ROLL WHEN SUCH RECOMPUTATION IS ACCOMPLISHED, THE
ASSESSOR SHALL CERTIFY SUCH RECOMPUTATION TO THE LOCAL  OFFICERS  HAVING
CUSTODY  AND  CONTROL  OF  SUCH ROLL, AND SUCH LOCAL OFFICERS ARE HEREBY
DIRECTED AND AUTHORIZED TO  ENTER  THE  RECOMPUTED  RESERVIST  EXEMPTION
CERTIFIED BY THE ASSESSOR ON SUCH ROLL.
  (G)  "LATEST  CLASS  RATIO"  MEANS THE LATEST FINAL CLASS RATIO ESTAB-
LISHED BY THE COMMISSIONER PURSUANT TO TITLE ONE OF  ARTICLE  TWELVE  OF
THIS  CHAPTER  FOR USE IN A SPECIAL ASSESSING UNIT AS DEFINED IN SECTION
EIGHTEEN HUNDRED ONE OF THIS CHAPTER.
  2. (A) QUALIFYING RESIDENTIAL REAL PROPERTY SHALL BE EXEMPT FROM TAXA-
TION TO THE EXTENT OF FIFTEEN PERCENT OF  THE  ASSESSED  VALUE  OF  SUCH
PROPERTY; PROVIDED, HOWEVER, THAT SUCH EXEMPTION SHALL NOT EXCEED TWELVE
THOUSAND DOLLARS OR THE PRODUCT OF TWELVE THOUSAND DOLLARS MULTIPLIED BY
THE  LATEST  STATE  EQUALIZATION  RATE FOR THE ASSESSING UNIT, OR IN THE
CASE OF A SPECIAL ASSESSING UNIT, THE LATEST CLASS RATIO,  WHICHEVER  IS
LESS.
  (B)  IN  ADDITION  TO  THE EXEMPTION PROVIDED BY PARAGRAPH (A) OF THIS
SUBDIVISION, WHERE THE RESERVIST SERVED IN A COMBAT  THEATRE  OR  COMBAT
ZONE  OF  OPERATIONS,  AS  DOCUMENTED  BY  THE  AWARD OF A UNITED STATES
CAMPAIGN RIBBON OR SERVICE MEDAL,  OR  THE  ARMED  FORCES  EXPEDITIONARY
MEDAL,  OR GLOBAL WAR ON TERRORISM EXPEDITIONARY MEDAL, QUALIFYING RESI-
DENTIAL REAL PROPERTY ALSO SHALL BE EXEMPT FROM TAXATION TO  THE  EXTENT

A. 8486                             3

OF  TEN PERCENT OF THE ASSESSED VALUE OF SUCH PROPERTY; PROVIDED, HOWEV-
ER, THAT SUCH EXEMPTION SHALL NOT EXCEED EIGHT THOUSAND DOLLARS  OR  THE
PRODUCT  OF EIGHT THOUSAND DOLLARS MULTIPLIED BY THE LATEST STATE EQUAL-
IZATION RATE FOR THE ASSESSING UNIT, OR IN THE CASE OF A SPECIAL ASSESS-
ING UNIT, THE CLASS RATIO, WHICHEVER IS LESS.
  (C)  IN  ADDITION TO THE EXEMPTIONS PROVIDED BY PARAGRAPHS (A) AND (B)
OF THIS SUBDIVISION, WHERE THE RESERVIST RECEIVED A COMPENSATION  RATING
FROM  THE  UNITED  STATES  VETERAN'S  ADMINISTRATION  OR FROM THE UNITED
STATES DEPARTMENT OF DEFENSE BECAUSE OF A SERVICE CONNECTED  DISABILITY,
QUALIFYING  RESIDENTIAL  REAL  PROPERTY SHALL BE EXEMPT FROM TAXATION TO
THE EXTENT OF THE PRODUCT OF THE ASSESSED VALUE OF SUCH PROPERTY  MULTI-
PLIED  BY  FIFTY PERCENT OF THE RESERVIST'S DISABILITY RATING; PROVIDED,
HOWEVER, THAT SUCH EXEMPTION SHALL NOT EXCEED FORTY THOUSAND DOLLARS  OR
THE  PRODUCT  OF  FORTY  THOUSAND DOLLARS MULTIPLIED BY THE LATEST STATE
EQUALIZATION RATE FOR THE ASSESSING UNIT, OR IN THE CASE  OF  A  SPECIAL
ASSESSING UNIT, THE LATEST CLASS RATIO, WHICHEVER IS LESS.  FOR PURPOSES
OF  THIS  PARAGRAPH,  WHERE  A PERSON WHO SERVED IN THE ACTIVE MILITARY,
NAVAL OR AIR SERVICE DURING A PERIOD OF WAR DIED IN SERVICE OF A SERVICE
CONNECTED DISABILITY, SUCH PERSON SHALL BE DEEMED TO HAVE BEEN  ASSIGNED
A COMPENSATION RATING OF ONE HUNDRED PERCENT.
  (D) (I) THE EXEMPTION FROM TAXATION PROVIDED BY THIS SUBDIVISION SHALL
BE  APPLICABLE TO COUNTY, CITY, TOWN AND VILLAGE TAXATION, BUT SHALL NOT
BE APPLICABLE TO TAXES LEVIED FOR SCHOOL PURPOSES.
  (II) EACH COUNTY, CITY, TOWN OR VILLAGE  MAY  ADOPT  A  LOCAL  LAW  TO
REDUCE THE MAXIMUM EXEMPTION ALLOWABLE IN PARAGRAPHS (A), (B) AND (C) OF
THIS  SUBDIVISION  TO  NINE  THOUSAND  DOLLARS, SIX THOUSAND DOLLARS AND
THIRTY THOUSAND DOLLARS, RESPECTIVELY, OR  SIX  THOUSAND  DOLLARS,  FOUR
THOUSAND DOLLARS AND TWENTY THOUSAND DOLLARS, RESPECTIVELY. EACH COUNTY,
CITY,  TOWN,  OR  VILLAGE  IS  ALSO  AUTHORIZED  TO ADOPT A LOCAL LAW TO
INCREASE THE MAXIMUM EXEMPTION ALLOWABLE IN PARAGRAPHS (A), (B) AND  (C)
OF  THIS  SUBDIVISION  TO FIFTEEN THOUSAND DOLLARS, TEN THOUSAND DOLLARS
AND FIFTY THOUSAND DOLLARS,  RESPECTIVELY;  EIGHTEEN  THOUSAND  DOLLARS,
TWELVE  THOUSAND DOLLARS AND SIXTY THOUSAND DOLLARS, RESPECTIVELY; TWEN-
TY-ONE THOUSAND DOLLARS, FOURTEEN THOUSAND DOLLARS, AND SEVENTY THOUSAND
DOLLARS, RESPECTIVELY; TWENTY-FOUR THOUSAND  DOLLARS,  SIXTEEN  THOUSAND
DOLLARS,  AND  EIGHTY THOUSAND DOLLARS, RESPECTIVELY; TWENTY-SEVEN THOU-
SAND DOLLARS, EIGHTEEN THOUSAND DOLLARS, AND  NINETY  THOUSAND  DOLLARS,
RESPECTIVELY;  THIRTY THOUSAND DOLLARS, TWENTY THOUSAND DOLLARS, AND ONE
HUNDRED THOUSAND DOLLARS, RESPECTIVELY; THIRTY-THREE  THOUSAND  DOLLARS,
TWENTY-TWO  THOUSAND  DOLLARS,  AND  ONE  HUNDRED  TEN THOUSAND DOLLARS,
RESPECTIVELY; THIRTY-SIX THOUSAND DOLLARS, TWENTY-FOUR THOUSAND DOLLARS,
AND ONE HUNDRED TWENTY THOUSAND DOLLARS, RESPECTIVELY.  IN  ADDITION,  A
COUNTY,  CITY,  TOWN  OR  VILLAGE  WHICH IS A "HIGH-APPRECIATION MUNICI-
PALITY" AS DEFINED IN THIS SUBPARAGRAPH IS AUTHORIZED TO ADOPT  A  LOCAL
LAW  TO  INCREASE THE MAXIMUM EXEMPTION ALLOWABLE IN PARAGRAPHS (A), (B)
AND (C) OF THIS SUBDIVISION TO THIRTY-NINE THOUSAND DOLLARS,  TWENTY-SIX
THOUSAND DOLLARS, AND ONE HUNDRED THIRTY THOUSAND DOLLARS, RESPECTIVELY;
FORTY-TWO  THOUSAND  DOLLARS,  TWENTY-EIGHT  THOUSAND  DOLLARS,  AND ONE
HUNDRED  FORTY  THOUSAND  DOLLARS,  RESPECTIVELY;  FORTY-FIVE   THOUSAND
DOLLARS, THIRTY THOUSAND DOLLARS AND ONE HUNDRED FIFTY THOUSAND DOLLARS,
RESPECTIVELY;  FORTY-EIGHT THOUSAND DOLLARS, THIRTY-TWO THOUSAND DOLLARS
AND ONE HUNDRED SIXTY THOUSAND DOLLARS, RESPECTIVELY; FIFTY-ONE THOUSAND
DOLLARS, THIRTY-FOUR THOUSAND DOLLARS AND ONE HUNDRED  SEVENTY  THOUSAND
DOLLARS,  RESPECTIVELY; FIFTY-FOUR THOUSAND DOLLARS, THIRTY-SIX THOUSAND
DOLLARS AND ONE  HUNDRED  EIGHTY  THOUSAND  DOLLARS,  RESPECTIVELY.  FOR
PURPOSES OF THIS SUBPARAGRAPH, A "HIGH-APPRECIATION MUNICIPALITY" MEANS:

A. 8486                             4

(A)  A SPECIAL ASSESSING UNIT THAT IS A CITY, (B) A COUNTY FOR WHICH THE
COMMISSIONER HAS ESTABLISHED  A  SALES  PRICE  DIFFERENTIAL  FACTOR  FOR
PURPOSES  OF THE STAR EXEMPTION AUTHORIZED BY SECTION FOUR HUNDRED TWEN-
TY-FIVE  OF  THIS TITLE IN THREE CONSECUTIVE YEARS, AND (C) A CITY, TOWN
OR VILLAGE WHICH IS WHOLLY OR PARTLY LOCATED WITHIN SUCH A COUNTY.
  3. APPLICATION FOR EXEMPTION MUST BE MADE BY THE OWNER, OR ALL OF  THE
OWNERS,  OF  THE  PROPERTY ON A FORM PRESCRIBED BY THE COMMISSIONER. THE
OWNER OR OWNERS SHALL FILE THE COMPLETED FORM IN THE  ASSESSOR'S  OFFICE
ON  OR  BEFORE  THE APPROPRIATE TAXABLE STATUS DATE. THE EXEMPTION SHALL
CONTINUE IN FULL FORCE AND EFFECT FOR  ALL  APPROPRIATE  SUBSEQUENT  TAX
YEARS  AND  THE OWNER OR OWNERS OF THE PROPERTY SHALL NOT BE REQUIRED TO
REFILE EACH YEAR. APPLICANTS SHALL BE REQUIRED TO REFILE  ON  OR  BEFORE
THE  APPROPRIATE  TAXABLE  STATUS  DATE  IF THE PERCENTAGE OF DISABILITY
PERCENTAGE INCREASES OR DECREASES OR MAY REFILE IF  OTHER  CHANGES  HAVE
OCCURRED WHICH AFFECT QUALIFICATION FOR AN INCREASED OR DECREASED AMOUNT
OF EXEMPTION. ANY APPLICANT CONVICTED OF MAKING ANY WILLFUL FALSE STATE-
MENT  IN  THE  APPLICATION  FOR  SUCH  EXEMPTION SHALL BE SUBJECT TO THE
PENALTIES PRESCRIBED IN THE PENAL LAW.
  4. NOTWITHSTANDING  THE  PROVISIONS  OF  THIS  SECTION  OR  ANY  OTHER
PROVISION  OF LAW, IN A CITY HAVING A POPULATION OF ONE MILLION OR MORE,
APPLICATIONS FOR THE EXEMPTION AUTHORIZED PURSUANT TO THIS SECTION SHALL
BE CONSIDERED TIMELY FILED IF THEY ARE FILED ON OR BEFORE THE  FIFTEENTH
DAY OF MARCH OF THE APPROPRIATE YEAR.
  5.  NOTWITHSTANDING THE FOREGOING PROVISIONS OF THIS SECTION, NO LATER
THAN NINETY DAYS BEFORE THE TAXABLE STATUS DATE  NEXT  OCCURRING  ON  OR
AFTER THE THIRTY-FIRST DAY OF DECEMBER NINETEEN HUNDRED EIGHTY-FOUR, THE
GOVERNING  BOARD  OF ANY COUNTY, CITY, TOWN OR VILLAGE MAY ADOPT A LOCAL
LAW TO PROVIDE THAT NO EXEMPTION  SHALL  BE  GRANTED  PURSUANT  TO  THIS
SECTION  FOR THE PURPOSES OF TAXES LEVIED FOR SUCH COUNTY, CITY, TOWN OR
VILLAGE. FOR THE PURPOSES OF A COUNTY WHICH IS NOT  AN  ASSESSING  UNIT,
THE   TAXABLE   STATUS   DATE   NEXT  OCCURRING  ON  OR  AFTER  DECEMBER
THIRTY-FIRST, NINETEEN HUNDRED EIGHTY-FOUR SHALL  MEAN  THE  FIRST  SUCH
TAXABLE  STATUS  DATE  OF  ANY  CITY OR TOWN WITHIN SUCH COUNTY UPON THE
ASSESSMENT ROLL OF WHICH THE COUNTY LEVIES TAXES. A  LOCAL  LAW  ADOPTED
PURSUANT  TO  THIS SUBDIVISION MAY BE REPEALED BY THE GOVERNING BOARD OF
THE APPLICABLE COUNTY, CITY, TOWN OR VILLAGE. SUCH REPEAL MUST OCCUR  AT
LEAST NINETY DAYS PRIOR TO THE TAXABLE STATUS DATE OF SUCH COUNTY, CITY,
TOWN OR VILLAGE.
  6.  NOTWITHSTANDING  ANY  OTHER  PROVISION OF LAW TO THE CONTRARY, THE
PROVISIONS OF THIS SECTION SHALL APPLY TO  ANY  REAL  PROPERTY  HELD  IN
TRUST  SOLELY FOR THE BENEFIT OF A PERSON OR PERSONS WHO WOULD OTHERWISE
BE ELIGIBLE FOR A REAL PROPERTY TAX EXEMPTION, PURSUANT TO THIS SECTION,
WERE SUCH PERSON OR PERSONS THE OWNER OR OWNERS OF SUCH REAL PROPERTY.
  7. (A) FOR THE PURPOSES OF THIS SECTION, TITLE TO THAT PORTION OF REAL
PROPERTY OWNED  BY  A  COOPERATIVE  APARTMENT  CORPORATION  IN  WHICH  A
TENANT-STOCKHOLDER  OF SUCH CORPORATION RESIDES AND WHICH IS REPRESENTED
BY HIS OR HER SHARE OR SHARES OF STOCK IN SUCH CORPORATION AS DETERMINED
BY ITS OR THEIR PROPORTIONAL RELATIONSHIP TO THE TOTAL OUTSTANDING STOCK
OF THE CORPORATION, INCLUDING THAT OWNED BY THE  CORPORATION,  SHALL  BE
DEEMED TO BE VESTED IN SUCH TENANT-STOCKHOLDER.
  (B)  PROVIDED  THAT ALL OTHER ELIGIBILITY CRITERIA OF THIS SECTION ARE
MET, THAT PROPORTION OF THE ASSESSMENT OF SUCH REAL PROPERTY OWNED BY  A
COOPERATIVE APARTMENT CORPORATION DETERMINED BY THE RELATIONSHIP OF SUCH
REAL  PROPERTY  VESTED  IN SUCH TENANT-STOCKHOLDER TO SUCH REAL PROPERTY
OWNED  BY  SUCH  COOPERATIVE  APARTMENT  CORPORATION   IN   WHICH   SUCH
TENANT-STOCKHOLDER  RESIDES  SHALL BE SUBJECT TO EXEMPTION FROM TAXATION

A. 8486                             5

PURSUANT TO THIS SECTION AND ANY EXEMPTION SO GRANTED SHALL BE  CREDITED
BY  THE  APPROPRIATE  TAXING AUTHORITY AGAINST THE ASSESSED VALUATION OF
SUCH REAL PROPERTY; THE REDUCTION IN REAL PROPERTY TAXES REALIZED THERE-
BY  SHALL  BE  CREDITED BY THE COOPERATIVE APARTMENT CORPORATION AGAINST
THE AMOUNT OF SUCH TAXES OTHERWISE PAYABLE  BY  OR  CHARGEABLE  TO  SUCH
TENANT-STOCKHOLDER.
  (C) NOTWITHSTANDING PARAGRAPH (B) OF THIS SUBDIVISION, A TENANT-STOCK-
HOLDER  WHO  RESIDES  IN A DWELLING THAT IS SUBJECT TO THE PROVISIONS OF
EITHER ARTICLE TWO, FOUR, FIVE OR ELEVEN OF THE PRIVATE HOUSING  FINANCE
LAW SHALL NOT BE ELIGIBLE FOR AN EXEMPTION PURSUANT TO THIS SECTION.
  (D)  NOTWITHSTANDING  PARAGRAPH (B) OF THIS SUBDIVISION, REAL PROPERTY
OWNED BY A COOPERATIVE CORPORATION MAY BE EXEMPT FROM TAXATION  PURSUANT
TO THIS SECTION BY A MUNICIPALITY IN WHICH SUCH PROPERTY IS LOCATED ONLY
IF THE GOVERNING BODY OF SUCH MUNICIPALITY, AFTER PUBLIC HEARING, ADOPTS
A LOCAL LAW, ORDINANCE OR RESOLUTION PROVIDING THEREFOR.
  8.  (A) AS USED IN THIS SUBDIVISION, "GOLD STAR PARENT" SHALL MEAN THE
PARENT OF A CHILD WHO DIED IN THE LINE OF  DUTY  WHILE  SERVING  IN  THE
UNITED STATES ARMED FORCES DURING A PERIOD OF WAR.
  (B)  A COUNTY, CITY, TOWN, OR VILLAGE MAY ADOPT A LOCAL LAW TO INCLUDE
A GOLD STAR PARENT  WITHIN  THE  DEFINITION  OF  "QUALIFIED  OWNER",  AS
PROVIDED  IN  PARAGRAPH  (D)  OF SUBDIVISION ONE OF THIS SECTION, AND TO
INCLUDE PROPERTY OWNED BY A GOLD STAR PARENT WITHIN  THE  DEFINITION  OF
"QUALIFYING  RESIDENTIAL  REAL PROPERTY" AS PROVIDED IN PARAGRAPH (E) OF
SUBDIVISION ONE OF THIS SECTION, PROVIDED THAT SUCH  PROPERTY  SHALL  BE
THE PRIMARY RESIDENCE OF THE GOLD STAR PARENT.
  (C) THE ADDITIONAL EXEMPTION PROVIDED FOR IN PARAGRAPH (C) OF SUBDIVI-
SION  TWO  OF  THIS  SECTION SHALL NOT APPLY TO REAL PROPERTY OWNED BY A
GOLD STAR PARENT.
  9. NOTWITHSTANDING THE PROVISIONS OF PARAGRAPH (C) OF SUBDIVISION  TWO
OF  THIS  SECTION  AND  SUBDIVISION THREE OF THIS SECTION, THE GOVERNING
BODY OF ANY MUNICIPALITY MAY, AFTER PUBLIC HEARING, ADOPT A  LOCAL  LAW,
ORDINANCE  OR RESOLUTION PROVIDING THAT WHERE A RESERVIST, THE SPOUSE OF
THE RESERVIST OR  UNREMARRIED  SURVIVING  SPOUSE  ALREADY  RECEIVING  AN
EXEMPTION  PURSUANT  TO  THIS  SECTION  SELLS THE PROPERTY RECEIVING THE
EXEMPTION AND PURCHASES PROPERTY WITHIN THE SAME CITY, TOWN OR  VILLAGE,
THE ASSESSOR SHALL TRANSFER AND PRORATE, FOR THE REMAINDER OF THE FISCAL
YEAR, THE EXEMPTION RECEIVED. THE PRORATED EXEMPTION SHALL BE BASED UPON
THE  DATE  THE  RESERVIST,  THE  SPOUSE  OF THE RESERVIST OR UNREMARRIED
SURVIVING SPOUSE OBTAINS TITLE TO THE NEW PROPERTY AND SHALL  BE  CALCU-
LATED  BY  MULTIPLYING  THE  TAX RATE OR RATES FOR EACH MUNICIPAL CORPO-
RATION WHICH LEVIED TAXES, OR FOR WHICH TAXES WERE LEVIED, ON THE APPRO-
PRIATE TAX ROLL USED FOR THE FISCAL  YEAR  OR  YEARS  DURING  WHICH  THE
TRANSFER  OCCURRED  TIMES THE PREVIOUSLY GRANTED EXEMPT AMOUNT TIMES THE
FRACTION OF EACH FISCAL YEAR OR YEARS REMAINING SUBSEQUENT TO THE TRANS-
FER OF TITLE. NOTHING IN THIS SECTION SHALL BE CONSTRUED TO  REMOVE  THE
REQUIREMENT  THAT  ANY  SUCH  RESERVIST,  THE SPOUSE OF THE RESERVIST OR
UNREMARRIED SURVIVING SPOUSE TRANSFERRING AN EXEMPTION PURSUANT TO  THIS
SUBDIVISION  SHALL REAPPLY FOR THE EXEMPTION AUTHORIZED PURSUANT TO THIS
SECTION ON OR BEFORE THE FOLLOWING TAXABLE STATUS  DATE,  IN  THE  EVENT
SUCH  RESERVIST,  THE  SPOUSE  OF THE RESERVIST OR UNREMARRIED SURVIVING
SPOUSE WISHES TO RECEIVE THE EXEMPTION IN FUTURE FISCAL YEARS.
  S 2. This act shall take effect on the first of January next  succeed-
ing  the  date  on  which  it shall have become a law and shall apply to
assessment rolls prepared on the basis of taxable status dates occurring
on or after such date.