Senate Bill S5421A

2023-2024 Legislative Session

Relates to raising the income cap for senior citizens applying for the enhanced STAR property tax exemption

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Aging 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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Bill Amendments

co-Sponsors

2023-S5421 - Details

See Assembly Version of this Bill:
A2769
Current Committee:
Senate Aging
Law Section:
Real Property Tax Law
Laws Affected:
Amd §425, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7793
2015-2016: A1621
2017-2018: A5853
2019-2020: A4804
2021-2022: S8732, A5353

2023-S5421 - Summary

Relates to raising the income cap for senior citizens applying for the enhanced STAR property tax exemption to $120,000.

2023-S5421 - Sponsor Memo

2023-S5421 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5421
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               March 3, 2023
                                ___________
 
 Introduced  by  Sen. PALUMBO -- 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  raising  the
   income cap for senior citizens applying for the enhanced STAR property
   tax exemption

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraph (i) of  paragraph  (b)  of  subdivision  4  of
 section  425  of  the  real  property tax law is amended by adding a new
 clause (B-1) to read as follows:
   (B-1) FOR FINAL ASSESSMENT ROLLS TO BE COMPLETED IN TWO THOUSAND TWEN-
 TY-FOUR, ELIGIBILITY FOR THE EXEMPTION SHALL BE BASED  UPON  INCOME  FOR
 THE INCOME TAX YEAR IMMEDIATELY PRECEDING THE DATE OF MAKING APPLICATION
 FOR THE EXEMPTION, AND THE INCOME STANDARD SHALL BE ONE HUNDRED THOUSAND
 DOLLARS.
   § 2. This act shall take effect immediately and shall apply to all tax
 years commencing on or after it shall have become a law.
 
 
 
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00651-01-3

co-Sponsors

2023-S5421A (ACTIVE) - Details

See Assembly Version of this Bill:
A2769
Current Committee:
Senate Aging
Law Section:
Real Property Tax Law
Laws Affected:
Amd §425, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7793
2015-2016: A1621
2017-2018: A5853
2019-2020: A4804
2021-2022: S8732, A5353

2023-S5421A (ACTIVE) - Summary

Relates to raising the income cap for senior citizens applying for the enhanced STAR property tax exemption to $120,000.

2023-S5421A (ACTIVE) - Sponsor Memo

2023-S5421A (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5421--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               March 3, 2023
                                ___________
 
 Introduced  by  Sens.  PALUMBO,  CANZONERI-FITZPATRICK -- read twice and
   ordered printed, and when printed to be committed to the Committee  on
   Aging  --  recommitted  to  the  Committee on Aging in accordance with
   Senate Rule 6, sec. 8 -- committee discharged, bill  amended,  ordered
   reprinted as amended and recommitted to said committee

 AN  ACT  to  amend the real property tax law, in relation to raising the
   income cap for senior citizens applying for the enhanced STAR property
   tax exemption
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subparagraph  (i)  of  paragraph  (b) of subdivision 4 of
 section 425 of the real property tax law is  amended  by  adding  a  new
 clause (B-1) to read as follows:
   (B-1) FOR FINAL ASSESSMENT ROLLS TO BE COMPLETED IN TWO THOUSAND TWEN-
 TY-FOUR,  ELIGIBILITY  FOR  THE EXEMPTION SHALL BE BASED UPON INCOME FOR
 THE INCOME TAX YEAR IMMEDIATELY PRECEDING THE DATE OF MAKING APPLICATION
 FOR THE EXEMPTION, AND THE INCOME STANDARD SHALL BE ONE  HUNDRED  TWENTY
 THOUSAND DOLLARS.
   § 2. This act shall take effect immediately and shall apply to all tax
 years commencing on or after such date.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00651-03-4

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