S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3488
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 31, 2023
                                ___________
 
 Introduced  by  Sen.  WEIK  --  read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 AN ACT to amend the tax law, in relation to  providing  a  property  tax
   relief credit and an enhanced real property tax circuit breaker credit

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
 subsection (n-3) to read as follows:
   (N-3) PROPERTY TAX RELIEF CREDIT. (1) AN INDIVIDUAL TAXPAYER WHO MEETS
 THE  ELIGIBILITY  STANDARDS IN PARAGRAPH TWO OF THIS SUBSECTION SHALL BE
 ALLOWED A CREDIT AGAINST THE TAXES IMPOSED BY THIS ARTICLE IN THE AMOUNT
 SPECIFIED IN PARAGRAPH THREE OF THIS SUBSECTION BEGINNING  IN  TAX  YEAR
 TWO THOUSAND TWENTY-THREE.
   (2)  TO BE ELIGIBLE FOR THE CREDIT, THE TAXPAYER OR TAXPAYERS FILING A
 JOINT TAX RETURN FOR THE TAXABLE YEAR TWO YEARS  PRIOR,  MUST  HAVE  (I)
 BEEN  A  RESIDENT,  (II)  OWNED  AND  PRIMARILY RESIDED IN REAL PROPERTY
 RECEIVING EITHER THE STAR EXEMPTION AUTHORIZED BY SECTION  FOUR  HUNDRED
 TWENTY-FIVE OF THE REAL PROPERTY TAX LAW OR THE SCHOOL TAX RELIEF CREDIT
 AUTHORIZED  BY SUBSECTION (EEE) OF THIS SECTION, AND (III) HAD QUALIFIED
 GROSS INCOME NO GREATER THAN TWO HUNDRED SEVENTY-FIVE THOUSAND  DOLLARS.
 PROVIDED, HOWEVER, THAT NO CREDIT SHALL BE ALLOWED IF ANY OF THE FOLLOW-
 ING APPLY:
   (A) SUCH PROPERTY IS LOCATED IN AN INDEPENDENT SCHOOL DISTRICT THAT IS
 SUBJECT  TO THE PROVISIONS OF SECTION TWO THOUSAND TWENTY-THREE-A OF THE
 EDUCATION LAW AND THAT HAS ADOPTED A BUDGET IN EXCESS OF  THE  TAX  LEVY
 LIMIT  PRESCRIBED  BY THAT SECTION. TO RENDER ITS TAXPAYERS ELIGIBLE FOR
 THE CREDIT AUTHORIZED BY  THIS  SUBSECTION,  THE  SCHOOL  DISTRICT  MUST
 CERTIFY ITS COMPLIANCE WITH SUCH TAX LEVY LIMIT IN THE MANNER PRESCRIBED
 BY  SUBDIVISION TWO OF SECTION TWO THOUSAND TWENTY-THREE-B OF THE EDUCA-
 TION LAW.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08013-01-3
 S. 3488                             2
              

 
   (B) SUCH PROPERTY IS  LOCATED  IN  A  CITY  WITH  A  DEPENDENT  SCHOOL
 DISTRICT  THAT  IS  SUBJECT  TO THE PROVISIONS OF SECTION THREE-C OF THE
 GENERAL MUNICIPAL LAW AND THAT HAS ADOPTED A BUDGET IN EXCESS OF THE TAX
 LEVY LIMIT PRESCRIBED BY THAT SECTION. TO RENDER ITS TAXPAYERS  ELIGIBLE
 FOR  THE CREDIT AUTHORIZED BY THIS SUBSECTION, THE CITY MUST CERTIFY ITS
 COMPLIANCE WITH SUCH TAX LEVY LIMIT IN THE MANNER PRESCRIBED BY SUBDIVI-
 SION TWO OF SECTION THREE-C OF THE GENERAL MUNICIPAL LAW.
   (C) SUCH PROPERTY IS LOCATED IN THE CITY OF NEW YORK.
   (3) AMOUNT OF CREDIT. (A) FOR THE TWO THOUSAND  SIXTEEN  TAXABLE  YEAR
 (I)  FOR  A TAXPAYER RESIDING IN REAL PROPERTY LOCATED WITHIN THE METRO-
 POLITAN COMMUTER TRANSPORTATION DISTRICT (MCTD) AND OUTSIDE THE CITY  OF
 NEW  YORK,  THE  AMOUNT OF THE CREDIT SHALL BE $130; (II) FOR A TAXPAYER
 RESIDING IN REAL PROPERTY LOCATED OUTSIDE THE MCTD, THE  AMOUNT  OF  THE
 CREDIT SHALL BE $185.
   (B)  FOR  THE TWO THOUSAND TWENTY-THREE TAXABLE YEAR AND BEYOND, FOR A
 TAXPAYER WHO OWNED AND PRIMARILY RESIDED IN REAL PROPERTY RECEIVING  THE
 BASIC  STAR EXEMPTION, THE AMOUNT OF THE CREDIT SHALL EQUAL THE STAR TAX
 SAVINGS ASSOCIATED WITH SUCH BASIC STAR  EXEMPTION,  MULTIPLIED  BY  THE
 FOLLOWING PERCENTAGE:
 QUALIFIED GROSS INCOME                       PERCENTAGE
 NOT OVER $75,000                             85%
 OVER $75,000 BUT NOT OVER $150,000           60%
 OVER $150,000 BUT NOT OVER $200,000          35%
 OVER $200,000 BUT NOT OVER $275,000          10%
 OVER $275,000                                NO CREDIT
   (C)  FOR  A  TAXPAYER WHO OWNED AND PRIMARILY RESIDED IN REAL PROPERTY
 RECEIVING THE ENHANCED STAR EXEMPTION, THE AMOUNT OF  THE  CREDIT  SHALL
 EQUAL THE STAR TAX SAVINGS ASSOCIATED WITH SUCH ENHANCED STAR EXEMPTION,
 MULTIPLIED BY TWENTY-SIX PERCENT.
   (D)  IN  NO  CASE  MAY  THE  AMOUNT  OF  THE CREDIT ALLOWED UNDER THIS
 SUBSECTION EXCEED THE SCHOOL DISTRICT TAXES  DUE  WITH  RESPECT  TO  THE
 RESIDENCE FOR THAT SCHOOL YEAR.
   (4) FOR PURPOSES OF THIS SUBSECTION:
   (A)  "QUALIFIED  GROSS  INCOME" MEANS THE ADJUSTED GROSS INCOME OF THE
 QUALIFIED TAXPAYER FOR THE TAXABLE YEAR AS REPORTED FOR  FEDERAL  INCOME
 TAX  PURPOSES,  OR WHICH WOULD BE REPORTED AS ADJUSTED GROSS INCOME IF A
 FEDERAL INCOME TAX RETURN WERE REQUIRED TO BE FILED. IN COMPUTING QUALI-
 FIED GROSS INCOME, THE NET AMOUNT OF LOSS REPORTED ON  FEDERAL  SCHEDULE
 C,  D,  E, OR F SHALL NOT EXCEED THREE THOUSAND DOLLARS PER SCHEDULE. IN
 ADDITION, THE NET AMOUNT OF ANY OTHER SEPARATE CATEGORY  OF  LOSS  SHALL
 NOT  EXCEED  THREE  THOUSAND DOLLARS. THE AGGREGATE AMOUNT OF ALL LOSSES
 INCLUDED IN COMPUTING QUALIFIED GROSS INCOME SHALL  NOT  EXCEED  FIFTEEN
 THOUSAND DOLLARS.
   (B) "STAR TAX SAVINGS" MEANS THE TAX SAVINGS ATTRIBUTABLE TO THE BASIC
 OR ENHANCED STAR EXEMPTION, WHICHEVER IS APPLICABLE, WITHIN A PORTION OF
 A  SCHOOL DISTRICT, AS DETERMINED BY THE COMMISSIONER PURSUANT TO SUBDI-
 VISION TWO OF SECTION THIRTEEN HUNDRED SIX-A OF THE  REAL  PROPERTY  TAX
 LAW.
   (C)  "METROPOLITAN  COMMUTER  TRANSPORTATION DISTRICT" OR "MCTD" MEANS
 THE METROPOLITAN COMMUTER TRANSPORTATION DISTRICT AS DEFINED IN  SECTION
 TWELVE HUNDRED SIXTY-TWO OF THE PUBLIC AUTHORITIES LAW.
   (5)  IF  THE  AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION SHALL
 EXCEED THE TAXPAYER'S TAX FOR THE TAXABLE  YEAR,  THE  EXCESS  SHALL  BE
 TREATED  AS  AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN ACCORD-
 ANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS ARTI-
 CLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE  PAID  THEREON.    FOR
 S. 3488                             3
 
 EACH YEAR THIS CREDIT IS ALLOWED, ON OR BEFORE OCTOBER FIFTEENTH OF SUCH
 YEAR,  OR  AS  SOON THEREAFTER AS IS PRACTICABLE, THE COMMISSIONER SHALL
 DETERMINE THE TAXPAYER'S  ELIGIBILITY  FOR  THIS  CREDIT  UTILIZING  THE
 INFORMATION  AVAILABLE  TO  THE  COMMISSIONER ON THE TAXPAYER'S PERSONAL
 INCOME TAX RETURN FILED FOR THE TAXABLE YEAR  TWO  YEARS  PRIOR  TO  THE
 TAXABLE  YEAR  IN  WHICH THE CREDIT IS ALLOWED. FOR THOSE TAXPAYERS WHOM
 THE COMMISSIONER HAS DETERMINED ELIGIBLE FOR THIS  CREDIT,  THE  COMMIS-
 SIONER  SHALL  ADVANCE  A  PAYMENT  IN THE AMOUNT SPECIFIED IN PARAGRAPH
 THREE OF THIS SUBSECTION, WHICH PAYMENT SHALL BE ISSUED, TO THE GREATEST
 EXTENT PRACTICABLE, BY OCTOBER THIRTY-FIRST OF EACH YEAR THE  CREDIT  IS
 ALLOWED. A TAXPAYER WHO HAS FAILED TO RECEIVE AN ADVANCE PAYMENT THAT HE
 OR  SHE  BELIEVES  WAS DUE TO HIM OR HER, OR WHO HAS RECEIVED AN ADVANCE
 PAYMENT THAT HE OR SHE BELIEVES IS LESS THAN THE AMOUNT THAT WAS DUE  TO
 HIM  OR  HER,  MAY REQUEST PAYMENT OF THE CLAIMED DEFICIENCY IN A MANNER
 PRESCRIBED BY THE COMMISSIONER.
   (6) A TAXPAYER SHALL NOT BE ELIGIBLE FOR THE CREDIT ALLOWED UNDER THIS
 SUBSECTION IF THE SCHOOL DISTRICT TAXES LEVIED UPON THE RESIDENCE DURING
 THE TAXABLE YEAR REMAIN UNPAID SIXTY DAYS AFTER THE LAST DATE  ON  WHICH
 THEY  COULD  HAVE BEEN PAID WITHOUT INTEREST, OR IN THE CASE OF A SCHOOL
 DISTRICT WHERE SUCH TAXES ARE PAYABLE IN  INSTALLMENTS,  IF  SUCH  TAXES
 REMAIN UNPAID SIXTY DAYS AFTER THE LAST DATE ON WHICH THE FINAL INSTALL-
 MENT  COULD  HAVE BEEN PAID WITHOUT INTEREST. IF THE TAXES REMAIN UNPAID
 ON SUCH SIXTIETH DAY, THE AMOUNT OF CREDIT CLAIMED BY THE TAXPAYER UNDER
 THIS SUBSECTION OR THE AMOUNT OF ADVANCE PAYMENT OF CREDIT  RECEIVED  BY
 THE  TAXPAYER  PURSUANT  TO  PARAGRAPH  FIVE OF THIS SUBSECTION SHALL BE
 ADDED BACK AS TAX ON THE INCOME TAX RETURN FOR THE TAXABLE YEAR IN WHICH
 SUCH SIXTIETH DAY OCCURS.
   (7) ONLY ONE CREDIT PER RESIDENCE SHALL BE ALLOWED  PER  TAXABLE  YEAR
 UNDER  THIS SUBSECTION. WHEN TWO OR MORE MEMBERS OF A RESIDENCE ARE ABLE
 TO MEET THE QUALIFICATIONS FOR A QUALIFIED TAXPAYER, THE CREDIT SHALL BE
 EQUALLY DIVIDED BETWEEN OR AMONG SUCH INDIVIDUALS. IN THE CASE OF SPOUS-
 ES WHO FILE A JOINT FEDERAL RETURN BUT WHO  ARE  REQUIRED  TO  DETERMINE
 THEIR  NEW  YORK  TAXES  SEPARATELY, THE CREDIT ALLOWED PURSUANT TO THIS
 SUBSECTION MAY BE APPLIED AGAINST THE TAX OF EITHER OR  DIVIDED  BETWEEN
 THEM AS THEY MAY ELECT.
   §  2. Section 606 of the tax law is amended by adding a new subsection
 (e-3) to read as follows:
   (E-3) ENHANCED REAL PROPERTY  TAX  CIRCUIT  BREAKER  CREDIT.  (1)  FOR
 PURPOSES OF THIS SUBSECTION:
   (A) "QUALIFIED TAXPAYER" MEANS A RESIDENT INDIVIDUAL OF THE STATE, WHO
 (I) IS A RESIDENT OF A CITY WITH A POPULATION OVER ONE MILLION, (II) HAS
 OCCUPIED  THE SAME RESIDENCE FOR SIX MONTHS OR MORE OF THE TAXABLE YEAR,
 AND (III) IS REQUIRED OR CHOOSES TO FILE A RETURN UNDER THIS ARTICLE.
   (B) "HOUSEHOLD" OR  "MEMBERS  OF  THE  HOUSEHOLD"  MEANS  A  QUALIFIED
 TAXPAYER  AND  ALL  OTHER PERSONS, NOT NECESSARILY RELATED, WHO HAVE THE
 SAME RESIDENCE AND SHARE ITS FURNISHINGS, FACILITIES AND ACCOMMODATIONS.
 SUCH TERMS SHALL NOT INCLUDE A TENANT, SUBTENANT, ROOMER OR BOARDER  WHO
 IS  NOT  RELATED  TO  THE  QUALIFIED TAXPAYER IN ANY DEGREE SPECIFIED IN
 PARAGRAPHS ONE THROUGH EIGHT OF SUBSECTION (A) OF  SECTION  ONE  HUNDRED
 FIFTY-TWO OF THE INTERNAL REVENUE CODE. PROVIDED, HOWEVER, NO PERSON MAY
 BE A MEMBER OF MORE THAN ONE HOUSEHOLD AT ONE TIME.
   (C) "HOUSEHOLD GROSS INCOME" MEANS THE AGGREGATE ADJUSTED GROSS INCOME
 OF  ALL  MEMBERS  OF  THE HOUSEHOLD FOR THE TAXABLE YEAR AS REPORTED FOR
 FEDERAL INCOME TAX PURPOSES, OR WHICH  WOULD  BE  REPORTED  AS  ADJUSTED
 GROSS  INCOME  IF A FEDERAL INCOME TAX RETURN WERE REQUIRED TO BE FILED,
 WITH THE MODIFICATIONS IN SUBSECTION (B) OF SECTION SIX  HUNDRED  TWELVE
 S. 3488                             4
 
 OF  THIS ARTICLE BUT WITHOUT THE MODIFICATIONS IN SUBSECTION (C) OF SUCH
 SECTION, PLUS ANY PORTION OF THE GAIN FROM THE SALE OR EXCHANGE OF PROP-
 ERTY OTHERWISE EXCLUDED FROM SUCH AMOUNT;  EARNED  INCOME  FROM  SOURCES
 WITHOUT  THE  UNITED  STATES  EXCLUDABLE  FROM  FEDERAL  GROSS INCOME BY
 SECTION NINE HUNDRED ELEVEN OF THE INTERNAL REVENUE CODE; SUPPORT  MONEY
 NOT  INCLUDED  IN  ADJUSTED  GROSS  INCOME;  NONTAXABLE STRIKE BENEFITS;
 SUPPLEMENTAL SECURITY INCOME PAYMENTS; THE GROSS AMOUNT OF  ANY  PENSION
 OR  ANNUITY  BENEFITS  TO THE EXTENT NOT INCLUDED IN SUCH ADJUSTED GROSS
 INCOME (INCLUDING, BUT NOT LIMITED TO, RAILROAD RETIREMENT BENEFITS  AND
 ALL  PAYMENTS  RECEIVED UNDER THE FEDERAL SOCIAL SECURITY ACT AND VETER-
 ANS' DISABILITY PENSIONS); NONTAXABLE INTEREST RECEIVED FROM  THE  STATE
 OF  NEW  YORK,  ITS AGENCIES, INSTRUMENTALITIES, PUBLIC CORPORATIONS, OR
 POLITICAL SUBDIVISIONS (INCLUDING A PUBLIC CORPORATION CREATED  PURSUANT
 TO  AGREEMENT OR COMPACT WITH ANOTHER STATE OR CANADA); WORKERS' COMPEN-
 SATION; THE GROSS AMOUNT OF "LOSS-OF-TIME" INSURANCE; AND THE AMOUNT  OF
 CASH PUBLIC ASSISTANCE AND RELIEF, OTHER THAN MEDICAL ASSISTANCE FOR THE
 NEEDY,  PAID  TO OR FOR THE BENEFIT OF THE QUALIFIED TAXPAYER OR MEMBERS
 OF HIS OR HER  HOUSEHOLD.  HOUSEHOLD  GROSS  INCOME  SHALL  NOT  INCLUDE
 SURPLUS  FOODS  OR  OTHER RELIEF IN KIND OR PAYMENTS MADE TO INDIVIDUALS
 BECAUSE OF THEIR STATUS AS VICTIMS OF NAZI  PERSECUTION  AS  DEFINED  IN
 P.L.  103-286.  PROVIDED,  FURTHER,  HOUSEHOLD  GROSS  INCOME SHALL ONLY
 INCLUDE ALL SUCH INCOME RECEIVED BY ALL MEMBERS OF THE  HOUSEHOLD  WHILE
 THEY ARE MEMBERS OF SUCH HOUSEHOLD. IN COMPUTING HOUSEHOLD GROSS INCOME,
 THE  NET AMOUNT OF LOSS REPORTED ON FEDERAL SCHEDULE C, D, E, OR F SHALL
 NOT EXCEED THREE THOUSAND DOLLARS PER SCHEDULE.  IN  ADDITION,  THE  NET
 AMOUNT  OF  ANY  OTHER  SEPARATE CATEGORY OF LOSS SHALL NOT EXCEED THREE
 THOUSAND DOLLARS. THE AGGREGATE AMOUNT OF ALL LOSSES INCLUDED IN COMPUT-
 ING HOUSEHOLD GROSS INCOME SHALL NOT EXCEED FIFTEEN THOUSAND DOLLARS.
   (D) "RESIDENCE" MEANS A DWELLING IN THIS STATE OWNED OR RENTED BY  THE
 TAXPAYER,  AND  SO MUCH OF THE LAND ABUTTING IT, NOT EXCEEDING ONE ACRE,
 AS IS REASONABLY NECESSARY FOR USE OF THE DWELLING AS A  HOME,  AND  MAY
 CONSIST  OF A PART OF A MULTI-DWELLING OR MULTI-PURPOSE BUILDING INCLUD-
 ING A COOPERATIVE OR CONDOMINIUM,  AND  RENTAL  UNITS  WITHIN  A  SINGLE
 DWELLING.  RESIDENCE INCLUDES A TRAILER OR MOBILE HOME, USED EXCLUSIVELY
 FOR RESIDENTIAL PURPOSES AND DEFINED AS REAL PROPERTY PURSUANT TO  PARA-
 GRAPH  (G)  OF SUBDIVISION TWELVE OF SECTION ONE HUNDRED TWO OF THE REAL
 PROPERTY TAX LAW.
   (E) "QUALIFYING REAL PROPERTY TAXES" MEANS ALL  REAL  PROPERTY  TAXES,
 SPECIAL  AD  VALOREM LEVIES AND SPECIAL ASSESSMENTS, EXCLUSIVE OF PENAL-
 TIES AND INTEREST, LEVIED ON THE RESIDENCE OF A QUALIFIED  TAXPAYER  AND
 PAID  DURING THE TAXABLE YEAR. A QUALIFIED TAXPAYER MAY ELECT TO INCLUDE
 ANY ADDITIONAL AMOUNT THAT WOULD HAVE BEEN LEVIED IN THE ABSENCE  OF  AN
 EXEMPTION  FROM  REAL PROPERTY TAXATION PURSUANT TO SECTION FOUR HUNDRED
 SIXTY-SEVEN OF THE REAL PROPERTY TAX LAW. IF  TENANT-STOCKHOLDERS  IN  A
 COOPERATIVE HOUSING CORPORATION HAVE MET THE REQUIREMENTS OF SECTION TWO
 HUNDRED SIXTEEN OF THE INTERNAL REVENUE CODE BY WHICH THEY ARE ALLOWED A
 DEDUCTION  FOR  REAL  ESTATE TAXES, THE AMOUNT OF TAXES SO ALLOWABLE, OR
 WHICH WOULD BE ALLOWABLE IF THE TAXPAYER HAD FILED  RETURNS  ON  A  CASH
 BASIS,  SHALL BE QUALIFYING REAL PROPERTY TAXES. IF A RESIDENCE IS OWNED
 BY TWO OR MORE INDIVIDUALS AS JOINT TENANTS OR TENANTS  IN  COMMON,  AND
 ONE OR MORE THAN ONE INDIVIDUAL IS NOT A MEMBER OF THE HOUSEHOLD, QUALI-
 FYING  REAL  PROPERTY  TAXES IS THAT PART OF SUCH TAXES ON THE RESIDENCE
 WHICH REFLECTS THE OWNERSHIP PERCENTAGE OF THE  QUALIFIED  TAXPAYER  AND
 MEMBERS OF HIS OR HER HOUSEHOLD. IF A RESIDENCE IS AN INTEGRAL PART OF A
 LARGER  UNIT,  QUALIFYING  REAL  PROPERTY TAXES SHALL BE LIMITED TO THAT
 AMOUNT OF SUCH TAXES PAID AS MAY BE REASONABLY APPORTIONED TO SUCH RESI-
 S. 3488                             5
 
 DENCE. IF A HOUSEHOLD OWNS AND OCCUPIES TWO OR  MORE  RESIDENCES  DURING
 DIFFERENT  PERIODS  IN  THE  SAME TAXABLE YEAR, QUALIFYING REAL PROPERTY
 TAXES SHALL BE THE SUM OF THE PRORATED QUALIFYING  REAL  PROPERTY  TAXES
 ATTRIBUTABLE TO THE HOUSEHOLD DURING THE PERIODS SUCH HOUSEHOLD OCCUPIES
 EACH  OF SUCH RESIDENCES. IF THE HOUSEHOLD OWNS AND OCCUPIES A RESIDENCE
 FOR PART OF THE TAXABLE YEAR AND RENTS A RESIDENCE FOR PART OF THE  SAME
 TAXABLE  YEAR,  IT MAY INCLUDE THE PRORATION OF QUALIFYING REAL PROPERTY
 TAXES ON THE RESIDENCE OWNED. PROVIDED, HOWEVER,  FOR  PURPOSES  OF  THE
 CREDIT ALLOWED UNDER THIS SUBSECTION, QUALIFYING REAL PROPERTY TAXES MAY
 BE INCLUDED BY A QUALIFIED TAXPAYER ONLY TO THE EXTENT THAT SUCH TAXPAY-
 ER  OR  THE  SPOUSE  OF  SUCH TAXPAYER, OCCUPYING SUCH RESIDENCE FOR ONE
 HUNDRED EIGHTY-THREE DAYS OR MORE OF THE TAXABLE YEAR, OWNS OR HAS OWNED
 THE RESIDENCE AND PAID SUCH TAXES.
   (F) "REAL PROPERTY TAX EQUIVALENT" MEANS  FIFTEEN  AND  THREE-QUARTERS
 PERCENT  OF  THE  ADJUSTED  RENT  ACTUALLY PAID IN THE TAXABLE YEAR BY A
 HOUSEHOLD SOLELY FOR THE RIGHT OF OCCUPANCY OF ITS  NEW  YORK  RESIDENCE
 FOR  THE TAXABLE YEAR. IF (I) A RESIDENCE IS RENTED TO TWO OR MORE INDI-
 VIDUALS AS COTENANTS, OR SUCH INDIVIDUALS SHARE  IN  THE  PAYMENT  OF  A
 SINGLE  RENT FOR THE RIGHT OF OCCUPANCY OF SUCH RESIDENCE, AND (II) EACH
 OF SUCH INDIVIDUALS IS A MEMBER OF A DIFFERENT HOUSEHOLD, ONE OR MORE OF
 WHICH INDIVIDUALS SHARES SUCH RESIDENCE, REAL PROPERTY TAX EQUIVALENT IS
 THAT PORTION OF FIFTEEN AND THREE-QUARTERS PERCENT OF THE ADJUSTED  RENT
 PAID IN THE TAXABLE YEAR WHICH REFLECTS THAT PORTION OF THE RENT ATTRIB-
 UTABLE  TO  THE  QUALIFIED TAXPAYER AND THE MEMBERS OF HIS OR HER HOUSE-
 HOLD.
   (G) "ADJUSTED RENT" MEANS RENTAL PAID FOR THE RIGHT OF OCCUPANCY OF  A
 RESIDENCE, EXCLUDING CHARGES FOR HEAT, GAS, ELECTRICITY, FURNISHINGS AND
 BOARD.  WHERE  CHARGES  FOR HEAT, GAS, ELECTRICITY, FURNISHINGS OR BOARD
 ARE INCLUDED IN RENTAL BUT WHERE SUCH CHARGES AND THE AMOUNT THEREOF ARE
 NOT SEPARATELY SET FORTH IN A WRITTEN RENTAL AGREEMENT, FOR PURPOSES  OF
 DETERMINING  ADJUSTED  RENT  THE  QUALIFIED TAXPAYER SHALL REDUCE RENTAL
 PAID AS FOLLOWS:
   (I) FOR HEAT, OR HEAT AND GAS, DEDUCT SIX PERCENT OF RENTAL PAID.
   (II) FOR HEAT, GAS AND ELECTRICITY, DEDUCT  EIGHT  PERCENT  OF  RENTAL
 PAID.
   (III)  FOR  HEAT, GAS, ELECTRICITY AND FURNISHINGS, DEDUCT TEN PERCENT
 OF RENTAL PAID.
   (IV) FOR HEAT, GAS, ELECTRICITY, FURNISHINGS AND BOARD, DEDUCT  TWENTY
 PERCENT OF RENTAL PAID.
   IF  THE  COMMISSIONER  DETERMINES  THAT THE ADJUSTED RENT SHOWN ON THE
 RETURN IS EXCESSIVE, THE COMMISSIONER MAY REDUCE SUCH RENT, FOR PURPOSES
 OF THE COMPUTATION OF THE CREDIT, TO AN AMOUNT SUBSTANTIALLY  EQUIVALENT
 TO RENT FOR A COMPARABLE ACCOMMODATION.
   (2)  A  QUALIFIED  TAXPAYER  SHALL  BE ALLOWED A CREDIT AS PROVIDED IN
 PARAGRAPH THREE OF THIS SUBSECTION AGAINST THE  TAXES  IMPOSED  BY  THIS
 ARTICLE  REDUCED BY THE CREDITS PERMITTED BY THIS ARTICLE. IF THE CREDIT
 EXCEEDS THE TAX AS SO REDUCED FOR SUCH  YEAR  UNDER  THIS  ARTICLE,  THE
 EXCESS  SHALL  BE TREATED AS AN OVERPAYMENT, TO BE CREDITED OR REFUNDED,
 WITHOUT INTEREST. IF A QUALIFIED TAXPAYER IS  NOT  REQUIRED  TO  FILE  A
 RETURN  PURSUANT  TO  SECTION  SIX  HUNDRED FIFTY-ONE OF THIS ARTICLE, A
 QUALIFIED TAXPAYER MAY NEVERTHELESS RECEIVE THE FULL AMOUNT OF THE CRED-
 IT TO BE CREDITED OR REPAID AS AN OVERPAYMENT, WITHOUT INTEREST.
   (3) DETERMINATION OF CREDIT. FOR  TAXABLE  YEARS  AFTER  TWO  THOUSAND
 TWENTY-TWO,  THE  AMOUNT  OF  THE CREDIT ALLOWABLE UNDER THIS SUBSECTION
 SHALL BE DETERMINED AS FOLLOWS:
 S. 3488                             6
 
 IF HOUSEHOLD GROSS INCOME   EXCESS REAL PROPERTY  THE CREDIT AMOUNT IS
 FOR THE TAXABLE YEAR IS:    TAXES ARE THE EXCESS  THE FOLLOWING
                             OF REAL PROPERTY TAX  PERCENTAGE OF EXCESS
                             EQUIVALENT OR THE     PROPERTY TAXES:
                             EXCESS OF QUALIFYING
                             REAL PROPERTY TAXES
                             OVER THE FOLLOWING
                             PERCENTAGE OF
                             HOUSEHOLD GROSS
                             INCOME:
 LESS THAN $100,000              4                     4.5
 $100,000 TO LESS THAN           5                     3.0
 $150,000
 $150,000 TO LESS THAN           6                     1.5
 $200,000
   NOTWITHSTANDING  THE  FOREGOING  PROVISIONS, THE MAXIMUM CREDIT DETER-
 MINED UNDER THIS PARAGRAPH MAY NOT EXCEED FIVE HUNDRED DOLLARS.
   (4) IF A QUALIFIED TAXPAYER OCCUPIES A RESIDENCE FOR A PERIOD OF  LESS
 THAN TWELVE MONTHS DURING THE TAXABLE YEAR OR OCCUPIES TWO OR MORE RESI-
 DENCES DURING DIFFERENT PERIODS IN SUCH TAXABLE YEAR, THE CREDIT ALLOWED
 PURSUANT  TO  THIS  SUBSECTION  SHALL  BE COMPUTED IN SUCH MANNER AS THE
 COMMISSIONER MAY, BY REGULATION, PRESCRIBE IN ORDER TO PROPERLY  REFLECT
 THE  CREDIT  OR  PORTION THEREOF ATTRIBUTABLE TO SUCH RESIDENCE OR RESI-
 DENCES AND SUCH PERIOD OR PERIODS.
   (5)  THE  COMMISSIONER  MAY  PRESCRIBE  THAT  THE  CREDIT  UNDER  THIS
 SUBSECTION  SHALL BE DETERMINED IN WHOLE OR IN PART BY THE USE OF TABLES
 PRESCRIBED BY SUCH COMMISSIONER. SUCH TABLES SHALL SET FORTH THE  CREDIT
 TO THE NEAREST DOLLAR.
   (6)  ONLY ONE CREDIT PER HOUSEHOLD AND PER QUALIFIED TAXPAYER SHALL BE
 ALLOWED PER TAXABLE YEAR UNDER THIS SUBSECTION. WHEN TWO OR MORE MEMBERS
 OF A HOUSEHOLD ARE ABLE TO  MEET  THE  QUALIFICATIONS  FOR  A  QUALIFIED
 TAXPAYER,  THE  CREDIT  SHALL  BE  EQUALLY DIVIDED BETWEEN OR AMONG SUCH
 INDIVIDUALS UNLESS SUCH INDIVIDUALS FILE WITH THE COMMISSIONER A WRITTEN
 AGREEMENT AMONG SUCH INDIVIDUALS SETTING FORTH A DIFFERENT DIVISION.
   (A) PROVIDED, HOWEVER, WHERE A JOINT INCOME TAX RETURN HAS BEEN  FILED
 PURSUANT  TO  THE  PROVISIONS  OF  SECTION SIX HUNDRED FIFTY-ONE OF THIS
 ARTICLE BY A QUALIFIED TAXPAYER AND HIS OR HER  SPOUSE  (OR  WHERE  BOTH
 SPOUSES  ARE  QUALIFIED TAXPAYERS AND HAVE FILED SUCH JOINT RETURN), THE
 CREDIT, OR THE PORTION OF THE CREDIT IF DIVIDED, TO  WHICH  THE  SPOUSES
 ARE  ENTITLED  SHALL  BE APPLIED AGAINST THE TAX OF BOTH SPOUSES AND ANY
 OVERPAYMENT SHALL BE MADE TO BOTH SPOUSES.
   (B) WHERE ANY RETURN REQUIRED TO BE FILED PURSUANT TO  THE  PROVISIONS
 OF  SECTION  SIX  HUNDRED FIFTY-ONE OF THIS ARTICLE IS COMBINED WITH ANY
 RETURN OF TAX IMPOSED PURSUANT TO THE AUTHORITY OF THIS CHAPTER  OR  ANY
 OTHER LAW IF SUCH TAX IS ADMINISTERED BY THE COMMISSIONER, THE CREDIT OR
 THE  PORTION OF THE CREDIT IF DIVIDED, ALLOWED TO THE QUALIFIED TAXPAYER
 MAY BE APPLIED BY THE COMMISSIONER TOWARD ANY LIABILITY FOR  THE  AFORE-
 MENTIONED TAXES.
   (7) NO CREDIT SHALL BE GRANTED UNDER THIS SUBSECTION:
   (A)  IF  HOUSEHOLD GROSS INCOME FOR THE TAXABLE YEAR EQUALS OR EXCEEDS
 TWO HUNDRED THOUSAND DOLLARS.
   (B) TO A PROPERTY OWNER UNLESS: (I) THE PROPERTY IS USED FOR  RESIDEN-
 TIAL  PURPOSES,  (II) NOT MORE THAN TWENTY PERCENT OF THE RENTAL INCOME,
 IF ANY, FROM THE PROPERTY IS FROM RENTAL  FOR  NONRESIDENTIAL  PURPOSES,
 AND (III) THE PROPERTY IS OCCUPIED AS A RESIDENCE IN WHOLE OR IN PART BY
 ONE OR MORE OF THE OWNERS OF THE PROPERTY.
 S. 3488                             7
 
   (C) TO AN INDIVIDUAL WITH RESPECT TO WHOM A DEDUCTION UNDER SUBSECTION
 (C)  OF  SECTION  ONE  HUNDRED FIFTY-ONE OF THE INTERNAL REVENUE CODE IS
 ALLOWABLE TO ANOTHER TAXPAYER FOR THE TAXABLE YEAR.
   (D)  WITH  RESPECT  TO  A  RESIDENCE THAT IS WHOLLY EXEMPTED FROM REAL
 PROPERTY TAXATION.
   (E) TO AN INDIVIDUAL WHO IS NOT A RESIDENT INDIVIDUAL OF A CITY, WITH-
 IN THE STATE, WITH A POPULATION OVER ONE MILLION, FOR THE ENTIRE TAXABLE
 YEAR.
   (8) THE RIGHT TO CLAIM A CREDIT OR THE PORTION OF A CREDIT, WHERE SUCH
 CREDIT HAS BEEN DIVIDED UNDER THIS SUBSECTION, SHALL BE PERSONAL TO  THE
 QUALIFIED  TAXPAYER  AND  SHALL  NOT  SURVIVE HIS OR HER DEATH, BUT SUCH
 RIGHT MAY BE EXERCISED ON BEHALF OF A CLAIMANT BY HIS OR HER LEGAL GUAR-
 DIAN OR ATTORNEY IN FACT DURING HIS OR HER LIFETIME.
   (9) RETURNS. IF A QUALIFIED TAXPAYER IS NOT REQUIRED TO FILE A  RETURN
 PURSUANT TO SECTION SIX HUNDRED FIFTY-ONE OF THIS ARTICLE, A CLAIM FOR A
 CREDIT MAY BE TAKEN ON A RETURN FILED WITH THE COMMISSIONER WITHIN THREE
 YEARS  FROM  THE TIME IT WOULD HAVE BEEN REQUIRED THAT A RETURN BE FILED
 PURSUANT TO SUCH SECTION HAD THE QUALIFIED TAXPAYER HAD A  TAXABLE  YEAR
 ENDING  ON  DECEMBER THIRTY-FIRST. RETURNS UNDER THIS PARAGRAPH SHALL BE
 IN SUCH FORM AS SHALL BE PRESCRIBED BY  THE  COMMISSIONER,  WHICH  SHALL
 MAKE AVAILABLE SUCH FORMS AND INSTRUCTIONS FOR FILING SUCH RETURNS.
   (10) PROOF OF CLAIM. THE COMMISSIONER MAY REQUIRE A QUALIFIED TAXPAYER
 TO  FURNISH THE FOLLOWING INFORMATION IN SUPPORT OF HIS OR HER CLAIM FOR
 CREDIT UNDER THIS SUBSECTION:  HOUSEHOLD  GROSS  INCOME,  REAL  PROPERTY
 TAXES  LEVIED  OR  THAT  WOULD  HAVE  BEEN  LEVIED  IN THE ABSENCE OF AN
 EXEMPTION FROM REAL  PROPERTY  TAX  PURSUANT  TO  SECTION  FOUR  HUNDRED
 SIXTY-SEVEN  OF  THE  REAL PROPERTY TAX LAW, THE NAMES OF MEMBERS OF THE
 HOUSEHOLD AND OTHER QUALIFYING TAXPAYERS OCCUPYING  THE  SAME  RESIDENCE
 AND  THEIR IDENTIFYING NUMBERS INCLUDING SOCIAL SECURITY NUMBERS, HOUSE-
 HOLD GROSS INCOME, SIZE AND NATURE OF PROPERTY CLAIMED AS RESIDENCE  AND
 ALL  OTHER  INFORMATION  WHICH  MAY  BE  REQUIRED BY THE COMMISSIONER TO
 DETERMINE THE CREDIT.
   (11) ADMINISTRATION. THE PROVISIONS OF  THIS  ARTICLE,  INCLUDING  THE
 PROVISIONS OF SECTIONS SIX HUNDRED FIFTY-THREE, SIX HUNDRED FIFTY-EIGHT,
 AND  SIX  HUNDRED  FIFTY-NINE OF THIS ARTICLE AND THE PROVISIONS OF PART
 SIX OF THIS ARTICLE RELATING TO PROCEDURE AND ADMINISTRATION,  INCLUDING
 THE JUDICIAL REVIEW OF THE DECISIONS OF THE COMMISSIONER, EXCEPT SO MUCH
 OF  SECTION  SIX  HUNDRED  EIGHTY-SEVEN  OF THIS ARTICLE WHICH PERMITS A
 CLAIM FOR CREDIT OR REFUND TO BE FILED AFTER THE PERIOD PROVIDED FOR  IN
 PARAGRAPH  NINE  OF  THIS  SUBSECTION  AND  EXCEPT  SECTIONS SIX HUNDRED
 FIFTY-SEVEN, SIX HUNDRED EIGHTY-EIGHT AND SIX HUNDRED NINETY-SIX OF THIS
 ARTICLE, SHALL APPLY TO THE PROVISIONS OF THIS SUBSECTION  IN  THE  SAME
 MANNER  AND  WITH  THE SAME FORCE AND EFFECT AS IF THE LANGUAGE OF THOSE
 PROVISIONS HAD BEEN INCORPORATED IN FULL INTO THIS  SUBSECTION  AND  HAD
 EXPRESSLY  REFERRED  TO  THE  CREDIT ALLOWED OR RETURNS FILED UNDER THIS
 SUBSECTION, EXCEPT TO THE EXTENT  THAT  ANY  SUCH  PROVISION  IS  EITHER
 INCONSISTENT  WITH  A PROVISION OF THIS SUBSECTION OR IS NOT RELEVANT TO
 THIS SUBSECTION. AS USED IN  SUCH  SECTIONS  AND  SUCH  PART,  THE  TERM
 "TAXPAYER" SHALL INCLUDE A QUALIFIED TAXPAYER UNDER THIS SUBSECTION AND,
 NOTWITHSTANDING  THE PROVISIONS OF SUBSECTION (E) OF SECTION SIX HUNDRED
 NINETY-SEVEN OF THIS ARTICLE, WHERE A QUALIFIED TAXPAYER  HAS  PROTESTED
 THE  DENIAL  OF A CLAIM FOR CREDIT UNDER THIS SUBSECTION AND THE TIME TO
 FILE A PETITION FOR REDETERMINATION OF A DEFICIENCY OR  FOR  REFUND  HAS
 NOT  EXPIRED,  HE OR SHE SHALL, SUBJECT TO SUCH CONDITIONS AS MAY BE SET
 BY THE COMMISSIONER, RECEIVE SUCH INFORMATION (A) WHICH IS CONTAINED  IN
 ANY  RETURN FILED UNDER THIS ARTICLE BY A MEMBER OF HIS OR HER HOUSEHOLD
 S. 3488                             8
 
 FOR THE TAXABLE YEAR FOR WHICH THE CREDIT IS CLAIMED, AND (B) WHICH  THE
 COMMISSIONER FINDS IS RELEVANT AND MATERIAL TO THE ISSUE OF WHETHER SUCH
 CLAIM WAS PROPERLY DENIED.
   (12)  NOTWITHSTANDING  ANY OTHER PROVISION OF THIS ARTICLE, THE CREDIT
 ALLOWED UNDER THIS SUBSECTION SHALL BE  DETERMINED  AFTER  THE  DETERMI-
 NATION  AND  APPLICATION  OF  ANY  OTHER  CREDITS  PERMITTED  UNDER  THE
 PROVISIONS OF THIS ARTICLE.
   (13) THE COMMISSIONER SHALL PREPARE A WRITTEN  REPORT  AFTER  DECEMBER
 THIRTY-FIRST  OF  EACH  CALENDAR  YEAR,  WHICH SHALL CONTAIN STATISTICAL
 INFORMATION REGARDING THE CREDITS GRANTED ON OR BEFORE SUCH DATES  UNDER
 THIS SUBSECTION DURING SUCH CALENDAR YEAR. COPIES OF THE REPORT SHALL BE
 SUBMITTED  BY  THE COMMISSIONER TO THE GOVERNOR, THE TEMPORARY PRESIDENT
 OF THE SENATE, THE SPEAKER OF THE ASSEMBLY,  THE  CHAIR  OF  THE  SENATE
 FINANCE COMMITTEE AND THE CHAIR OF THE ASSEMBLY WAYS AND MEANS COMMITTEE
 WITHIN  FORTY-FIVE  DAYS  OF  DECEMBER  THIRTY-FIRST.  SUCH REPORT SHALL
 CONTAIN, BUT NEED NOT BE LIMITED TO, THE NUMBER OF CREDITS AND THE AVER-
 AGE AMOUNT OF SUCH CREDITS ALLOWED; AND OF THOSE, THE NUMBER OF  CREDITS
 AND THE AVERAGE AMOUNT OF SUCH CREDITS ALLOWED TO QUALIFIED TAXPAYERS IN
 EACH  COUNTY; AND OF THOSE, THE NUMBER OF CREDITS AND THE AVERAGE AMOUNT
 OF SUCH CREDITS ALLOWED TO QUALIFIED  TAXPAYERS  WHOSE  HOUSEHOLD  GROSS
 INCOME  FALLS WITHIN EACH OF THE HOUSEHOLD GROSS INCOME RANGES SET FORTH
 IN PARAGRAPH THREE OF THIS SUBSECTION.
   § 3. This act shall take effect immediately and shall apply to taxable
 years beginning on or after January 1, 2023.