Senate Bill S2568

2017-2018 Legislative Session

Relates to the term "income" for purposes of the school tax relief exemption

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Rules 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

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2017-S2568 (ACTIVE) - Details

See Assembly Version of this Bill:
A9575
Current Committee:
Senate Rules
Law Section:
Real Property Tax Law
Laws Affected:
Amd §425, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: S7472
2015-2016: S4595
2019-2020: S270, A4087
2021-2022: S2570, A9396
2023-2024: S3053, A1257

2017-S2568 (ACTIVE) - Summary

Relates to the term "income" for purposes of the school tax relief exemption.

2017-S2568 (ACTIVE) - Sponsor Memo

2017-S2568 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2568
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2017
                                ___________
 
 Introduced  by  Sen. HELMING -- read twice and ordered printed, and when
   printed to be committed to the Committee on Aging
 
 AN ACT to amend the real property tax  law,  in  relation  to  the  term
   "income" for purposes of the school tax relief exemption
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraph (ii) of paragraph  (b)  of  subdivision  4  of
 section  425  of  the  real property tax law, as amended by section 3 of
 part E of chapter 83 of the laws of 2002, is amended to read as follows:
   (ii) The term "income" as used herein shall mean the  "adjusted  gross
 income"  for  federal income tax purposes as reported on the applicant's
 federal or state income tax return for the applicable income  tax  year,
 subject  to  any subsequent amendments or revisions, reduced by distrib-
 utions, to  the  extent  included  in  federal  adjusted  gross  income,
 received  from  an  individual  retirement  account [and], an individual
 retirement annuity, A DISTRIBUTION FROM  AN  ACCOUNT  ESTABLISHED  UNDER
 SECTION  401(K)  OR 403(B) OF THE UNITED STATES INTERNAL REVENUE CODE OF
 1986 AS AMENDED, OR A SIMPLIFIED EMPLOYEE PENSION PLAN (SEP) ESTABLISHED
 PURSUANT TO THE UNITED STATES INTERNAL REVENUE CODE OF 1986 AS  AMENDED;
 provided  that if no such return was filed for the applicable income tax
 year, "income" shall mean the adjusted gross income that would have been
 so reported if such a return had been filed.
   § 2. This act shall take effect on the first of January next  succeed-
 ing 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.
                                                            LBD08229-01-7

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