Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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Jan 05, 2022 |
referred to aging |
Mar 02, 2021 |
referred to aging |
Senate Bill S5311
2021-2022 Legislative Session
Sponsored By
(R) 1st Senate District
Archive: Last Bill Status - In Senate Committee Aging Committee
- Introduced
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- In Committee Assembly
- In Committee Senate
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- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
(R, C) 2nd Senate District
2021-S5311 (ACTIVE) - Details
2021-S5311 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5311 SPONSOR: PALUMBO TITLE OF BILL: An act to amend the real property tax law, in relation to income requirements for the real property school tax exemption granted to persons sixty-five years of age or over in high-appreciation munici- palities PURPOSE: To provide high appreciation municipalities with the opportunity to elect to increase the income eligibility level for the real property school tax exemption granted to persons sixty five years of age or over. SUMMARY OF PROVISIONS: Paragraph (a) of subdivision 3 of section 467 of the real property tax law is amended to provide "high appreciation municipalities" with the opportunity to elect to increase the income eligibility level to $50,000
2021-S5311 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 5311 A. 5908 2021-2022 Regular Sessions S E N A T E - A S S E M B L Y March 2, 2021 ___________ IN SENATE -- Introduced by Sen. PALUMBO -- read twice and ordered print- ed, and when printed to be committed to the Committee on Aging IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once and referred to the Committee on Aging AN ACT to amend the real property tax law, in relation to income requirements for the real property school tax exemption granted to persons sixty-five years of age or over in high-appreciation munici- palities THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (a) of subdivision 3 of section 467 of the real property tax law, as separately amended by chapters 131 and 279 of the laws of 2017, 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, twenty-nine thousand dollars beginning July first, two thousand nine, [and] in a city with a population of one million or more fifty thousand dollars beginning July first, two thousand seventeen, AND FIFTY THOUSAND DOLLARS BEGINNING JULY FIRST, TWO THOUSAND TWENTY-ONE IN A COUNTY, CITY, TOWN, VILLAGE OR SCHOOL DISTRICT WHICH IS A "HIGH-APPRECIATION MUNICI- PALITY", as may be provided by the local law, ordinance or resolution adopted pursuant to this section. FOR PURPOSES OF THIS PARAGRAPH, A "HIGH-APPRECIATION MUNICIPALITY" MEANS: (I) A SPECIAL ASSESSING UNIT THAT IS A CITY, (II) A COUNTY FOR WHICH THE COMMISSIONER HAS ESTABLISHED A SALES PRICE DIFFERENTIAL FACTOR FOR PURPOSES OF THE STAR EXEMPTION EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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