Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to real property taxation |
Jan 23, 2017 |
referred to real property taxation |
Assembly Bill A2735
2017-2018 Legislative Session
Sponsored By
GOTTFRIED R
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
Luis R. Sepúlveda
Anthony D'Urso
multi-Sponsors
Brian Barnwell
Robert C. Carroll
2017-A2735 (ACTIVE) - Details
2017-A2735 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2735 2017-2018 Regular Sessions I N A S S E M B L Y January 23, 2017 ___________ Introduced by M. of A. GOTTFRIED, SEPULVEDA -- Multi-Sponsored by -- M. of A. BARNWELL, CARROLL -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to allowable increases in property income for persons with disabilities and limited incomes for purposes of qualification for certain tax exemptions THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (a) of subdivision 5 of section 459-c of the real property tax law, as separately amended by chapters 187 and 252 of the laws of 2006, is amended to read as follows: (a) if the income of the owner or the combined income of the owners of the property for the income tax year immediately preceding the date of making application for exemption exceeds the sum of three thousand dollars, or such other sum not less than three thousand dollars [nor more than twenty-six thousand dollars beginning July first, two thousand six, twenty-seven thousand dollars beginning July first, two thousand seven, twenty-eight thousand dollars beginning July first, two thousand eight, and twenty-nine], FIFTY thousand dollars beginning July first, two thousand [nine] SEVENTEEN, as may be provided by the local law or resolution adopted pursuant to this section; PROVIDED, HOWEVER, BEGIN- NING JULY FIRST, TWO THOUSAND NINETEEN AND EVERY TWO YEARS THEREAFTER, THE MAXIMUM ALLOWABLE INCOME SHALL INCREASE BY THE PRODUCT OF THE AVER- AGE ANNUAL PERCENTAGE CHANGES IN THE CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS (CPI-U) AS PUBLISHED BY THE UNITED STATES DEPARTMENT OF LABOR BUREAU OF LABOR STATISTICS FOR THE TWO YEAR PERIOD ROUNDED TO THE NEAR- EST ONE THOUSAND DOLLARS. Income tax year shall mean the twelve month period for which the owner or owners filed a federal personal income tax return, or if no such return is filed, the calendar year. Where title is vested in either the husband or the wife, their combined income may not exceed such sum, except where the husband or wife, or ex-husband or EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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