S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8035
 
                             I N  S E N A T E
 
                              March 11, 2020
                                ___________
 
 Introduced  by Sen. MARTINEZ -- read twice and ordered printed, and when
   printed to be committed to the Committee on Veterans, Homeland Securi-
   ty and Military Affairs
 
 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:
   §  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.
   (E)  "QUALIFYING  RESIDENTIAL REAL PROPERTY" MEANS PROPERTY OWNED BY A
 QUALIFIED OWNER WHICH IS  USED  EXCLUSIVELY  FOR  RESIDENTIAL  PURPOSES;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD07533-01-9

 S. 8035                             2
 
 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
 OF TEN PERCENT OF THE ASSESSED VALUE OF SUCH PROPERTY; PROVIDED,  HOWEV-
 ER,  THAT  SUCH EXEMPTION SHALL NOT EXCEED EIGHT THOUSAND DOLLARS OR THE

 S. 8035                             3
 
 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)  A SPECIAL ASSESSING UNIT THAT IS A CITY, (B) A COUNTY FOR WHICH THE
 COMMISSIONER HAS ESTABLISHED  A  SALES  PRICE  DIFFERENTIAL  FACTOR  FOR

 S. 8035                             4

 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  APPLICA-
 BLE COUNTY, CITY, TOWN OR VILLAGE. SUCH REPEAL MUST OCCUR AT LEAST NINE-
 TY  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 PURSUANT
 TO THIS SECTION AND ANY EXEMPTION SO GRANTED SHALL BE  CREDITED  BY  THE
 APPROPRIATE TAXING AUTHORITY AGAINST THE ASSESSED VALUATION OF SUCH REAL

 S. 8035                             5
 
 PROPERTY; THE REDUCTION IN REAL PROPERTY TAXES REALIZED THEREBY SHALL BE
 CREDITED  BY THE COOPERATIVE APARTMENT CORPORATION AGAINST THE AMOUNT OF
 SUCH TAXES OTHERWISE PAYABLE BY OR CHARGEABLE TO SUCH  TENANT-STOCKHOLD-
 ER.
   (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.
   § 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.