AB7793 Summary:

BILL NO    A07793 

SAME AS    No same as 

SPONSOR    Garbarino

COSPNSR    Jaffee, Borelli, Hawley, Graf, Raia, DiPietro, Crouch, Finch, Walter,
           Ra, Montesano, Rozic, Palumbo, Goodell, Corwin

MLTSPNSR   Blankenbush, Brook-Krasny, Ceretto, Cook, Lopez P, McKevitt,
           Saladino, Simanowitz, Skartados, Thiele

Amd S425, RPT L

Relates to raising the income cap for senior citizens applying for the enhanced
STAR property tax exemption.
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AB7793 Actions:

BILL NO    A07793 

06/04/2013 referred to real property taxation
01/08/2014 referred to real property taxation
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AB7793 Memo:

BILL NUMBER:A7793

TITLE OF BILL:  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

PURPOSE OR GENERAL IDEA OF BILL:

To increase the income cap level for senior citizens applying for the
enhanced STAR property tax exemption to one hundred thousand dollars.

SUMMARY OF SPECIFIC PROVISIONS:

Section 1: Adds new clause (B-1) changing the income standard to one
hundred thousand dollars for years two thousand fourteen and beyond.

Section 2: Is the effective date

JUSTIFICATION:

The STAR program has provided seniors across the State with needed tax
relief. As a result, many seniors who live on fixed incomes have been
able to remain in their homes. Over the years the cost of living has
increased while the enhanced star cap has remained the same. Many
seniors are living on fixed incomes and with the rising cost of living
comes a need to increase the cap to add much needed relief to our
senior citizens.

PRIOR LEGISLATIVE HISTORY:

New Bill

FISCAL IMPLICATIONS:

To be determined.

EFFECTIVE DATE:

This act shall take effect immediately and shall apply to all tax
years commencing on or after it shall have become law.
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AB7793 Text:

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________

                                         7793

                              2013-2014 Regular Sessions

                                 I N  A S S E M B L Y

                                     June 4, 2013
                                      ___________

       Introduced  by  M.  of  A.  GARBARINO  --  read once and referred to the
         Committee on Real Property Taxation

       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:

    1    Section 1. Subparagraph (i) of  paragraph  (b)  of  subdivision  4  of
    2  section  425  of  the  real  property tax law is amended by adding a new
    3  clause (B-1) to read as follows:
    4    (B-1) FOR FINAL ASSESSMENT ROLLS TO BE COMPLETED IN TWO THOUSAND FOUR-
    5  TEEN, ELIGIBILITY FOR THE EXEMPTION SHALL BE BASED UPON INCOME  FOR  THE
    6  INCOME TAX YEAR IMMEDIATELY PRECEDING THE DATE OF MAKING APPLICATION FOR
    7  THE  EXEMPTION,  AND  THE  INCOME STANDARD SHALL BE ONE HUNDRED THOUSAND
    8  DOLLARS.
    9    S 2. This act shall take effect immediately and shall apply to all tax
   10  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.
                                                                  LBD11263-01-3
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