A04007 Summary:

BILL NOA04007
 
SAME ASNo Same As
 
SPONSORMcKevitt
 
COSPNSRGraf, Kolb
 
MLTSPNSR
 
Amd S425, RPT L
 
Includes distributions to an employer sponsored retirement plan in the definition of "income" for determining eligibility in the school tax relief program (STAR).
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A04007 Actions:

BILL NOA04007
 
01/28/2015referred to real property taxation
06/01/2015held for consideration in real property taxation
01/06/2016referred to real property taxation
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A04007 Committee Votes:

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A04007 Floor Votes:

There are no votes for this bill in this legislative session.
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A04007 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          4007
 
                               2015-2016 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 28, 2015
                                       ___________
 
        Introduced by M. of A. McKEVITT, GRAF, KOLB -- read once and referred to
          the Committee on Real Property Taxation
 
        AN  ACT  to  amend the real property tax law, in relation to an employer
          sponsored retirement plan
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Subparagraph  (ii)  of  paragraph (b) of subdivision 4 of
     2  section 425 of the real property tax law, as amended  by  section  3  of
     3  part E of chapter 83 of the laws of 2002, is amended to read as follows:
     4    (ii)  The  term "income" as used herein shall mean the "adjusted gross
     5  income" for federal income tax purposes as reported on  the  applicant's
     6  federal  or  state income tax return for the applicable income tax year,
     7  subject to any subsequent amendments or revisions, reduced  by  distrib-
     8  utions,  to  the  extent  included  in  federal  adjusted  gross income,
     9  received from an individual  retirement  account  [and],  an  individual
    10  retirement  annuity  and an employer sponsored retirement plan; provided
    11  that if no such return was filed for the  applicable  income  tax  year,
    12  "income"  shall  mean  the adjusted gross income that would have been so
    13  reported if such a return had been filed.
    14    § 2. This act shall take effect immediately.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08309-01-5
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