S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9785
 
                             I N  S E N A T E
 
                               May 30, 2024
                                ___________
 
 Introduced  by  Sen.  CLEARE  -- (at request of the NYC Finance) -- 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 appropri-
   ate tax year for assessing income requirements for certain real  prop-
   erty tax exemptions in a city with a population of one million or more

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Clause 1 of subparagraph (v) of paragraph (a)  of  subdivi-
 sion  5 of section 459-c of the real property tax law, as added by chap-
 ter 276 of the laws of 2023, is amended to read as follows:
   (1) except as provided in clause two of this  subparagraph,  the  term
 "income"  as used in this section 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 MOST RECENT income tax year [imme-
 diately preceding the date of application] OR YEARS FOR  WHICH  DATA  IS
 SUFFICIENTLY  AVAILABLE  TO  DETERMINE  THE  APPLICANT'S ELIGIBILITY FOR
 EXEMPTIONS PURSUANT TO THIS SECTION, subject to  any  subsequent  amend-
 ments  or  revisions, minus any distributions, to the extent included in
 federal adjusted gross income, received from  an  individual  retirement
 account  and  an individual retirement annuity; provided that if no such
 return was filed for such income tax year, the applicant's income  shall
 be  determined  based on the amounts that would have so been reported if
 such a return had been filed; and
   § 2. Clause 1 of subparagraph (v) of paragraph (a) of subdivision 3 of
 section 467 of the real property tax law, as added by chapter 276 of the
 laws of 2023, is amended to read as follows:
   (1) Except as provided in clause two of this  subparagraph,  the  term
 "income"  as used in this section 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 MOST RECENT income tax year [imme-
 diately preceding the date of application] OR YEARS FOR  WHICH  DATA  IS
 SUFFICIENTLY  AVAILABLE  TO  DETERMINE  THE  APPLICANT'S ELIGIBILITY FOR
 EXEMPTIONS PURSUANT TO THIS SECTION, subject to  any  subsequent  amend-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD15770-01-4
 S. 9785                             2
 
 ments  or  revisions, minus any distributions, to the extent included in
 federal adjusted gross income, received from  an  individual  retirement
 account  and  an individual retirement annuity; provided that if no such
 return  was filed for such income tax year, the applicant's income shall
 be determined based on the amounts that would have so been  reported  if
 such a return had been filed; and
   §  3.  Clause (A) of subparagraph (ii) of paragraph c of subdivision 1
 of section 467-b of the real property tax law, as amended by chapter 276
 of the laws of 2023, is amended to read as follows:
   (A) the sum of the adjusted gross  incomes  reported  on  the  federal
 income  tax returns of the applicant and all other members of the appli-
 cant's household for  the  MOST  RECENT  income  tax  year  [immediately
 preceding  the  date  of  application] OR YEARS FOR WHICH DATA IS SUFFI-
 CIENTLY  AVAILABLE  TO  DETERMINE  THE   APPLICANT'S   ELIGIBILITY   FOR
 EXEMPTIONS  PURSUANT  TO  THIS SECTION, subject to any subsequent amend-
 ments or revisions, less any distributions, to the  extent  included  in
 each  such adjusted gross income, received from an individual retirement
 account or retirement annuity; provided  that  if  no  such  income  tax
 return  was  filed  by  any member of the applicant's household for such
 income tax year, the income of such applicant or member  of  the  appli-
 cant's household shall be determined as if such a return had been filed;
   §  4.  Clause (i) of subparagraph 2 of paragraph f of subdivision 1 of
 section 467-c of the real property tax law, as amended by chapter 276 of
 the laws of 2023, is amended to read as follows:
   (i) the sum of the adjusted gross  incomes  reported  on  the  federal
 income  tax returns of the applicant and all other members of the appli-
 cant's household for  the  MOST  RECENT  income  tax  year  [immediately
 preceding  the  date  of  application] OR YEARS FOR WHICH DATA IS SUFFI-
 CIENTLY  AVAILABLE  TO  DETERMINE  THE   APPLICANT'S   ELIGIBILITY   FOR
 EXEMPTIONS  PURSUANT  TO  THIS SECTION, subject to any subsequent amend-
 ments or revisions, less any distributions, to the  extent  included  in
 each  such adjusted gross income, received from an individual retirement
 account or retirement annuity; provided  that  if  no  such  income  tax
 return  was  filed  by  any member of the applicant's household for such
 income tax year, the income of such applicant or member  of  the  appli-
 cant's household shall be determined as if such a return had been filed;
   §  5.  This  act  shall take effect immediately and shall be deemed to
 have been in full force and effect on and after May 3, 2023.