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A10411 Summary:

BILL NOA10411
 
SAME ASSAME AS S09785
 
SPONSORRules (Bichotte Hermelyn)
 
COSPNSR
 
MLTSPNSR
 
Amd §§459-c, 467, 467-b & 467-c, RPT L
 
Relates to assessments for certain real property tax exemptions to include years where there is sufficient data to determine an applicant's eligibility for exemptions.
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A10411 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          10411
 
                   IN ASSEMBLY
 
                                      May 24, 2024
                                       ___________
 
        Introduced   by   COMMITTEE  ON  RULES  --  (at  request  of  M.  of  A.
          Bichotte Hermelyn) -- read once and referred 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:
 
     1    Section  1.  Clause 1 of subparagraph (v) of paragraph (a) of subdivi-
     2  sion 5 of section 459-c of the real property tax law, as added by  chap-
     3  ter 276 of the laws of 2023, is amended to read as follows:
     4    (1)  except  as  provided in clause two of this subparagraph, the term
     5  "income" as used in this section shall mean the "adjusted gross  income"
     6  for  federal  income tax purposes as reported on the applicant's federal
     7  or state income tax return for the most recent income  tax  year  [imme-
     8  diately  preceding  the  date of application] or years for which data is
     9  sufficiently available to  determine  the  applicant's  eligibility  for
    10  exemptions  pursuant  to  this section, subject to any subsequent amend-
    11  ments or revisions, minus any distributions, to the extent  included  in
    12  federal  adjusted  gross  income, received from an individual retirement
    13  account and an individual retirement annuity; provided that if  no  such
    14  return  was filed for such income tax year, the applicant's income shall
    15  be determined based on the amounts that would have so been  reported  if
    16  such a return had been filed; and
    17    § 2. Clause 1 of subparagraph (v) of paragraph (a) of subdivision 3 of
    18  section 467 of the real property tax law, as added by chapter 276 of the
    19  laws of 2023, is amended to read as follows:
    20    (1)  Except  as  provided in clause two of this subparagraph, the term
    21  "income" as used in this section shall mean the "adjusted gross  income"
    22  for  federal  income tax purposes as reported on the applicant's federal
    23  or state income tax return for the most recent income  tax  year  [imme-
    24  diately  preceding  the  date of application] or years for which data is
    25  sufficiently available to  determine  the  applicant's  eligibility  for
    26  exemptions  pursuant  to  this section, subject to any subsequent amend-
    27  ments or revisions, minus any distributions, to the extent  included  in
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15770-01-4

        A. 10411                            2
 
     1  federal  adjusted  gross  income, received from an individual retirement
     2  account and an individual retirement annuity; provided that if  no  such
     3  return  was filed for such income tax year, the applicant's income shall
     4  be  determined  based on the amounts that would have so been reported if
     5  such a return had been filed; and
     6    § 3. Clause (A) of subparagraph (ii) of paragraph c of  subdivision  1
     7  of section 467-b of the real property tax law, as amended by chapter 276
     8  of the laws of 2023, is amended to read as follows:
     9    (A)  the  sum  of  the  adjusted gross incomes reported on the federal
    10  income tax returns of the applicant and all other members of the  appli-
    11  cant's  household  for  the  most  recent  income  tax year [immediately
    12  preceding the date of application] or years for  which  data  is  suffi-
    13  ciently   available   to   determine  the  applicant's  eligibility  for
    14  exemptions pursuant to this section, subject to  any  subsequent  amend-
    15  ments  or  revisions,  less any distributions, to the extent included in
    16  each such adjusted gross income, received from an individual  retirement
    17  account  or  retirement  annuity;  provided  that  if no such income tax
    18  return was filed by any member of the  applicant's  household  for  such
    19  income  tax  year,  the income of such applicant or member of the appli-
    20  cant's household shall be determined as if such a return had been filed;
    21    § 4. Clause (i) of subparagraph 2 of paragraph f of subdivision  1  of
    22  section 467-c of the real property tax law, as amended by chapter 276 of
    23  the laws of 2023, is amended to read as follows:
    24    (i)  the  sum  of  the  adjusted gross incomes reported on the federal
    25  income tax returns of the applicant and all other members of the  appli-
    26  cant's  household  for  the  most  recent  income  tax year [immediately
    27  preceding the date of application] or years for  which  data  is  suffi-
    28  ciently   available   to   determine  the  applicant's  eligibility  for
    29  exemptions pursuant to this section, subject to  any  subsequent  amend-
    30  ments  or  revisions,  less any distributions, to the extent included in
    31  each such adjusted gross income, received from an individual  retirement
    32  account  or  retirement  annuity;  provided  that  if no such income tax
    33  return was filed by any member of the  applicant's  household  for  such
    34  income  tax  year,  the income of such applicant or member of the appli-
    35  cant's household shall be determined as if such a return had been filed;
    36    § 5. This act shall take effect immediately and  shall  be  deemed  to
    37  have been in full force and effect on and after May 3, 2023.
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