S T A T E O F N E W Y O R K
________________________________________________________________________
3086
2009-2010 Regular Sessions
I N A S S E M B L Y
January 22, 2009
___________
Introduced by M. of A. ROBINSON, ENGLEBRIGHT, TOWNS, J. RIVERA, SCHROE-
DER -- Multi-Sponsored by -- M. of A. ABBATE, BENEDETTO, BOYLAND,
BRADLEY, CAHILL, CHRISTENSEN, COLTON, DINOWITZ, FARRELL, GUNTHER,
JOHN, LUPARDO, MARKEY, McENENY, MILLMAN, PHEFFER, REILLY, SEMINERIO,
WEISENBERG -- read once and referred to the Committee on Veterans'
Affairs
AN ACT to amend the real property tax law, in relation to the senior
citizen exemption and veteran disability compensation
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph (a) of subdivision 3 of section 467 of the real
property tax law, as amended by chapter 186 of the laws of 2006, is
amended to read as follows:
(a) if the income of the owner or the combined income of the owners of
the property for the income tax year immediately preceding the date of
making application for exemption exceeds the sum of three thousand
dollars, or such other sum not less than three thousand dollars nor more
than twenty-six thousand dollars beginning July first, two thousand six,
twenty-seven thousand dollars beginning July first, two thousand seven,
twenty-eight thousand dollars beginning July first, two thousand eight,
and twenty-nine thousand dollars beginning July first, two thousand
nine, as may be provided by the local law, ordinance or resolution
adopted pursuant to this section. Income tax year shall mean the twelve
month period for which the owner or owners filed a federal personal
income tax return, or if no such return is filed, the calendar year.
Where title is vested in either the husband or the wife, their combined
income may not exceed such sum, except where the husband or wife, or
ex-husband or ex-wife is absent from the property as provided in subpar-
agraph (ii) of paragraph (d) of this subdivision, then only the income
of the spouse or ex-spouse residing on the property shall be considered
and may not exceed such sum. Such income shall include social security
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01858-01-9
A. 3086 2
and retirement benefits, interest, dividends, total gain from the sale
or exchange of a capital asset which may be offset by a loss from the
sale or exchange of a capital asset in the same income tax year, net
rental income, salary or earnings, and net income from self-employment,
but shall not include a return of capital, gifts, inheritances, VETERAN
DISABILITY COMPENSATION, AS DEFINED IN TITLE 38 OF THE UNITED STATES
CODE, payments made to individuals because of their status as victims of
Nazi persecution, as defined in P.L. 103-286 or monies earned through
employment in the federal foster grandparent program and any such income
shall be offset by all medical and prescription drug expenses actually
paid which were not reimbursed or paid for by insurance, if the govern-
ing board of a municipality, after a public hearing, adopts a local law,
ordinance or resolution providing therefor. [The provisions of this
paragraph notwithstanding, such income shall not include veterans disa-
bility compensation, as defined in Title 38 of the United States Code
provided the governing board of such municipality, after public hearing,
adopts a local law, ordinance or resolution providing therefor.] In
computing net rental income and net income from self-employment no
depreciation deduction shall be allowed for the exhaustion, wear and
tear of real or personal property held for the production of income;
S 2. This act shall take effect immediately and shall apply to those
assessment rolls having a taxable status date on or after January first
of the year next succeeding the year in which it shall have become a
law.