senate Bill S5290A

Increases the amount combat veterans shall be exempt from real property taxation to thirty-five percent

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Sponsor

Co-Sponsors

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 03 / May / 2011
    • REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS
  • 17 / May / 2011
    • 1ST REPORT CAL.761
  • 18 / May / 2011
    • 2ND REPORT CAL.
  • 23 / May / 2011
    • ADVANCED TO THIRD READING
  • 24 / May / 2011
    • COMMITTED TO FINANCE
  • 04 / Jan / 2012
    • REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS
  • 23 / Jan / 2012
    • AMEND AND RECOMMIT TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS
  • 23 / Jan / 2012
    • PRINT NUMBER 5290A
  • 06 / Jun / 2012
    • REPORTED AND COMMITTED TO FINANCE

Summary

Increases the amount combat veterans shall be exempt from real property taxation to thirty-five percent.

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Bill Details

See Assembly Version of this Bill:
A5277A
Versions:
S5290
S5290A
Legislative Cycle:
2011-2012
Current Committee:
Senate Finance
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง458-a, RPT L
Versions Introduced in 2009-2010 Legislative Cycle:
S3005, A8367

Votes

12
0
12
Aye
0
Nay
1
aye with reservations
0
absent
0
excused
1
abstained
show Veterans, Homeland Security and Military Affairs committee vote details

Sponsor Memo

BILL NUMBER:S5290A REVISED 06/07/12

TITLE OF BILL:
An act
to amend the real property tax law,
in relation to real property tax exemptions
for combat veterans

PURPOSE:
Increases the amount combat veterans shall be exempt from real
property taxation from 10% to 35%.

SUMMARY OF PROVISIONS:
Section one amends paragraph (b) of subdivision 2 of section 4s8-a of
the real property tax law.

Section two is the effective date.

JUSTIFICATION:
Veterans who served in a combat zone protecting the United States of
America should see an increase in their property tax exemption.
Military personnel serving in combat zones are fighting to protect
our nations freedoms by putting their lives on the line every day. To
show New York's appreciation, this legislation would exempt up to 35%
(currently 10%) of the assessed value on their real property for
combat zone soldiers.
This measure would greatly benefit these brave individuals who have
served foreign land combat zones for extended periods of time away
from their families. New York State residents who are in the military
and serve our country bravely, sacrifice their lives so we may enjoy
peace and prosperity as a nation and a state. They deserve our
respect and this bill shows our gratitude for their sacrifice as they
protect our country and our freedoms.

LEGISLATIVE HISTORY:
2011: S.5290 - Referred to Finance/A.S277 - Referred to Veterans'
Affairs
2010: S.3005 - Referred to Veterans/A.8367 - Referred to Veterans'
Affairs
2009: S.3005 - Referred to Veterans/A.8367 - Referred to Veterans'
Affairs
2008: S.8769 - Referred to Rules

FISCAL IMPLICATIONS:
The Department of Taxation and Finance estimate that this bill would
result in a shifting of property taxes, from properties receiving the
increased exemption to other properties, of approximately $290
million per year.

EFFECTIVE DATE:

This act shall take effect immediately and shall apply to assessment
rolls prepared on and after January 1, 2012.

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

                                 5290--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               May 3, 2011
                               ___________

Introduced by Sens. LANZA, LARKIN -- read twice and ordered printed, and
  when  printed  to  be committed to the Committee on Veterans, Homeland
  Security and Military Affairs  --  recommitted  to  the  Committee  on
  Veterans,  Homeland  Security  and Military Affairs in accordance with
  Senate Rule 6, sec. 8 -- committee discharged, bill  amended,  ordered
  reprinted as amended and recommitted to said committee

AN  ACT to amend the real property tax law, in relation to real property
  tax exemptions for combat veterans

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph (b) of subdivision 2 of section 458-a of the real
property  tax  law,  as  amended  by chapter 473 of the laws of 2004, is
amended to read as follows:
  (b) In addition to the exemption provided by  paragraph  (a)  of  this
subdivision, where the veteran served in a combat theatre or combat zone
of  operations,  as  documented by the award of a United States campaign
ribbon or service medal, or the armed forces expeditionary  medal,  navy
expeditionary  medal, marine corps expeditionary medal, or global war on
terrorism expeditionary medal, qualifying residential real property also
shall be exempt from taxation to the extent of [ten] THIRTY-FIVE percent
of the assessed value of such property;  provided,  however,  that  such
exemption shall not exceed [eight] FORTY thousand dollars or the product
of  [eight] FORTY thousand dollars multiplied by the latest state equal-
ization rate for the assessing unit, or in the case of a special assess-
ing unit, the class ratio, whichever is less.
  S 2. This act shall take effect immediately and shall apply to assess-
ment rolls prepared on or after January 1, 2012.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04954-02-1

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