New York State Assembly

Bill No.:  

 
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A05009 Summary:

BILL NO	A05009
SAME AS	No same as
SPONSOR	Lopez V
COSPNSR
MLTSPNSR
Amd S606, Tax L
Expands the applicability of the real property circuit breaker tax credit by increasing the maximum property value and rent limitations.

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A05009 Actions:

BILL NO	A05009
02/10/2009	referred to real property taxation
01/06/2010	referred to real property taxation

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A05009 Floor Votes:

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A05009 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5009
 
                               2009-2010 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 10, 2009
                                       ___________
 
        Introduced by M. of A. V. LOPEZ -- read once and referred to the Commit-
          tee on Real Property Taxation
 
        AN  ACT to amend the tax law, in relation to expanding the applicability
          of the real property circuit breaker tax credit
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

 
     1    Section  1. Subparagraphs (C) and (D) of paragraph 7 of subsection (e)
     2  of section 606 of the tax law, as amended by chapter 28 of the  laws  of
     3  1987, are amended to read as follows:
     4    (C)  To  a  property  owner  who owns real property, the full value of
     5  which exceeds one hundred eighty-five thousand dollars.
     6    (D) To a tenant if the adjusted rent for the residence  exceeds  [four
     7  hundred fifty] seven hundred fifty dollars per month on average.
     8    § 2. This act shall take effect immediately and shall apply to taxable
     9  years beginning on or after January 1, 2010.
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08360-01-9

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