Includes distributions to an employer sponsored retirement plan in the definition of "income" for determining eligibility in the school tax relief program (STAR).
STATE OF NEW YORK
________________________________________________________________________
4548
2019-2020 Regular Sessions
IN ASSEMBLY
February 4, 2019
___________
Introduced by M. of A. B. MILLER, CROUCH, HAWLEY, MONTESANO, MORINELLO,
NORRIS, RAIA -- Multi-Sponsored by -- M. of A. D. ROSENTHAL -- 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 1 of
3 part B of chapter 59 of the laws of 2018, 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 retire-
10 ment annuity and an employer sponsored retirement plan; provided that if
11 no such return was filed for the applicable income tax year, "income"
12 shall mean the adjusted gross income that would have been so reported if
13 such a return had been filed. Provided further, that effective with
14 exemption applications for final assessment rolls to be completed in two
15 thousand nineteen, where an income-eligibility determination is wholly
16 or partly based upon the income of one or more individuals who did not
17 file a return for the applicable income tax year, then in order for the
18 application to be considered complete, each such individual must file a
19 statement with the department showing the source or sources of his or
20 her income for that income tax year, and the amount or amounts thereof,
21 that would have been reported on such a return if one had been filed.
22 Such statement shall be filed at such time, and in such form and manner,
23 as may be prescribed by the department, and shall be subject to the
24 secrecy provisions of the tax law to the same extent that a personal
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD06606-01-9
A. 4548 2
1 income tax return would be. The department shall make such forms and
2 instructions available for the filing of such statements. The local
3 assessor shall upon the request of a taxpayer assist such taxpayer in
4 the filing of the statement with the department.
5 § 2. This act shall take effect immediately.
