senate Bill S2196

Relates to calculations of enhanced STAR upon sale of a parcel of real property with such exemption

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Sponsor

Bill Status


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

  • 14 / Jan / 2013
    • REFERRED TO AGING
  • 21 / May / 2013
    • REPORTED AND COMMITTED TO FINANCE
  • 08 / Jan / 2014
    • REFERRED TO AGING
  • 30 / Apr / 2014
    • REPORTED AND COMMITTED TO FINANCE

Summary

Relates to calculations of enhanced STAR upon sale of a parcel of real property with such exemption.

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Bill Details

Versions:
S2196
Legislative Cycle:
2013-2014
Current Committee:
Senate Finance
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง425, RPT L
Versions Introduced in 2011-2012 Legislative Cycle:
S6245

Votes

9
0
9
Aye
0
Nay
2
aye with reservations
0
absent
0
excused
0
abstained
show Aging committee vote details

Sponsor Memo

BILL NUMBER:S2196

TITLE OF BILL: An act to amend the real property tax law, in relation
to certain calculations for enhanced STAR

PURPOSE: This bill will require home owners, who do not qualify for an
enhanced STAR exemption, and buy property from an qualified enhanced
STAR individual to pay back, pro-rata, the exemption they are not quali-
fied for.

SUMMARY OF PROVISIONS:

Section 1. Provides that if a parcel of real property with the enhanced
STAR exemption is sold to a purchaser who is not entitled to such
exemption, the purchaser must pay the pro-rated portion of the exemption
that is due back to the municipality.

JUSTIFICATION: The municipalities provide qualified seniors with an
Enhanced STAR exemption from real property taxes, however, when a non-
qualified purchaser buys the parcel of land from the qualified senior
they are reaping benefit they are not qualified for. In order to make
the municipality whole this benefit should be returned to the munici-
pality at a pro-rata rate. This is already being done for the basic STAR
exemption.

LEGISLATIVE HISTORY: 2011-2012: S.6245 - Referred to Aging

FISCAL IMPLICATIONS: Needs to be determined.

EFFECTIVE DATE: Shall take effect immediately.

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

                                  2196

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 14, 2013
                               ___________

Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
  printed to be committed to the Committee on Aging

AN ACT to amend the real property tax law, in relation to certain calcu-
  lations for enhanced STAR

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

  Section  1.    Subdivision 9-b of section 425 of the real property tax
law is amended by adding a new paragraph (e) to read as follows:
  (E) NOTWITHSTANDING THE FOREGOING PROVISIONS OF THIS  SUBDIVISION,  AT
THE  TIME  OF  SALE  OF A PARCEL OF REAL PROPERTY WITH THE ENHANCED STAR
EXEMPTION, IF A PURCHASER IS NOT ENTITLED TO SUCH EXEMPTION,  THEN  SUCH
PURCHASER  SHALL  MAKE  THE  MUNICIPALITY WHOLE BY PAYING THE DIFFERENCE
BETWEEN THE SELLER'S TAX LIABILITY AND THAT DUE FROM THE PURCHASER BASED
ON SUCH PURCHASER'S TAX LIABILITY. THE PURCHASER SHALL PAY THE PRO-RATED
PORTION OF THE NON-ENHANCED STAR EXEMPTION TAX LIABILITY.
  S 2. This act shall take effect immediately; provided,  however,  that
effective immediately, the addition, amendment and/or repeal of any rule
or regulation necessary for the implementation of this act on its effec-
tive  date  is  authorized  and  directed to be made and completed on or
before such effective date.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05325-01-3

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