Assembly Actions - Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2010 | referred to investigations and government operations |
Jun 01, 2009 | print number 4239a |
Jun 01, 2009 | amend (t) and recommit to investigations and government operations |
Apr 20, 2009 | referred to investigations and government operations |
senate Bill S4239A
Sponsored By
Liz Krueger
(D, WF) 28th Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
Your Voice
Actions
Bill Amendments
Co-Sponsors
Joseph P. Addabbo Jr
(D) 15th Senate District
John J. Bonacic
(R, C, IP) 0 Senate District
Neil D. Breslin
(D, WF) 46th Senate District
Ruben Diaz
(D) 0 Senate District
S4239 - Details
- See Assembly Version of this Bill:
- A8702
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd ยง606, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012: S912, A5542
2013-2014: S3266, A5834
2015-2016: S3110, A6458
2017-2018: S4579, A6270
2019-2020: S3982, A5750
2021-2022: S1434
2023-2024: S1244
S4239 - Sponsor Memo
BILL NUMBER: S4239 TITLE OF BILL : An act to amend the tax law, in relation to creating the middle class circuit breaker tax credit PURPOSE OR GENERAL IDEA OF BILL : To provide a personal income tax credit for certain property taxpayers who pay a disproportionate share of their income to property taxes. SUMMARY OF SPECIFIC PROVISIONS : SECTION 1: Adds a new subsection (qq) to section 606 of the tax law to provide for a real property tax credit. The credit will be based on the income of the household and the percentage that said household pays for real property taxes. For Homeowners For taxable years starting in 2009: Household Adjusted Gross Income Tax Maximum Real Property Tax Maximum Real Property Tax $100,000 or less Real Property taxes paid in excess of 9% of said income can receive a personal income
S4239 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4239 2009-2010 Regular Sessions I N S E N A T E April 20, 2009 ___________ Introduced by Sens. KRUEGER, DIAZ, ONORATO, SAMPSON, SCHNEIDERMAN -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations AN ACT to amend the tax law, in relation to creating the middle class circuit breaker tax credit THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 606 of the tax law is amended by adding a new subsection (qq) to read as follows: (QQ) MIDDLE CLASS CIRCUIT BREAKER CREDIT. (1) DEFINITIONS. FOR THE PURPOSES OF THIS SUBSECTION: (A) "QUALIFIED TAXPAYER" MEANS A RESIDENT INDIVIDUAL OF THE STATE WHO OWNS OR RENTS THE RESIDENTIAL REAL PROPERTY IN WHICH HE OR SHE RESIDES, AND HAS RESIDED IN SUCH RESIDENTIAL REAL PROPERTY FOR NOT LESS THAN FIVE YEARS. (B) "HOUSEHOLD" OR "MEMBERS OF THE HOUSEHOLD" MEANS A QUALIFIED TAXPAYER OR QUALIFIED TAXPAYERS AND ALL OTHER PERSONS, NOT NECESSARILY RELATED, WHO ALL RESIDE IN THE RESIDENTIAL REAL PROPERTY OWNED BY THE TAXPAYER OR TAXPAYERS, AND SHARE ITS FURNISHINGS, FACILITIES AND ACCOM- MODATIONS; PROVIDED THAT NO PERSON MAY BE A MEMBER OF MORE THAN ONE HOUSEHOLD AT ONE TIME. (C) "HOUSEHOLD GROSS INCOME" MEANS THE AGGREGATE ADJUSTED GROSS INCOME OF ALL MEMBERS OF THE HOUSEHOLD FOR THE TAXABLE YEAR AS REPORTED FOR FEDERAL INCOME TAX PURPOSES, OR WHICH WOULD BE REPORTED AS ADJUSTED GROSS INCOME IF A FEDERAL INCOME TAX RETURN WERE REQUIRED TO BE FILED, WITH THE MODIFICATIONS IN SUBSECTION (B) OF SECTION SIX HUNDRED TWELVE OF THIS ARTICLE BUT WITHOUT THE MODIFICATIONS IN SUBSECTION (C) OF SUCH SECTION, PLUS ANY PORTION OF THE GAIN FROM THE SALE OR EXCHANGE OF PROP- ERTY OTHERWISE EXCLUDED FROM SUCH AMOUNT; EARNED INCOME FROM SOURCES WITHOUT THE UNITED STATES EXCLUDABLE FROM FEDERAL GROSS INCOME BY SECTION NINE HUNDRED ELEVEN OF THE INTERNAL REVENUE CODE; SUPPORT MONEY EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10999-01-9
Co-Sponsors
Joseph P. Addabbo Jr
(D) 15th Senate District
John J. Bonacic
(R, C, IP) 0 Senate District
Neil D. Breslin
(D, WF) 46th Senate District
Ruben Diaz
(D) 0 Senate District
S4239A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8702
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd ยง606, Tax L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012: S912, A5542
2013-2014: S3266, A5834
2015-2016: S3110, A6458
2017-2018: S4579, A6270
2019-2020: S3982, A5750
2021-2022: S1434
2023-2024: S1244
S4239A (ACTIVE) - Sponsor Memo
BILL NUMBER: S4239A TITLE OF BILL : An act to amend the tax law, in relation to creating the middle class circuit breaker tax credit and creating a tax reform study commission PURPOSE OR GENERAL IDEA OF BILL : To provide a personal income tax credit for certain property taxpayers who pay a disproportionate share of their income to property taxes. SUMMARY OF SPECIFIC PROVISIONS : SECTION 1: Adds a new subsection (qq) to section 606 of the tax law to provide for a real property tax credit. The credit will be based on the income of the household and the percentage that said household pays for real property taxes. FOR HOMEOWNERS For taxable years starting in 2009: Household Adjusted Gross Income Tax Maximum Real Property Tax $100,000 or less Real Property taxes paid in excess of 9% of said income can receive a personal income tax credit of 70% of the overage.
S4239A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4239--A 2009-2010 Regular Sessions I N S E N A T E April 20, 2009 ___________ Introduced by Sens. KRUEGER, ADDABBO, BONACIC, BRESLIN, DIAZ, HASSELL-THOMPSON, LITTLE, MONTGOMERY, ONORATO, SAMPSON, SCHNEIDERMAN, STEWART-COUSINS -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Oper- ations -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to creating the middle class circuit breaker tax credit and creating a tax reform study commission THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 606 of the tax law is amended by adding a new subsection (qq) to read as follows: (QQ) MIDDLE CLASS CIRCUIT BREAKER CREDIT. (1) DEFINITIONS. FOR THE PURPOSES OF THIS SUBSECTION: (A) "QUALIFIED TAXPAYER" MEANS A RESIDENT INDIVIDUAL OF THE STATE WHO OWNS OR RENTS THE RESIDENTIAL REAL PROPERTY IN WHICH HE OR SHE RESIDES, AND HAS RESIDED IN SUCH RESIDENTIAL REAL PROPERTY FOR NOT LESS THAN FIVE YEARS. (B) "HOUSEHOLD" OR "MEMBERS OF THE HOUSEHOLD" MEANS A QUALIFIED TAXPAYER OR QUALIFIED TAXPAYERS AND ALL OTHER PERSONS, NOT NECESSARILY RELATED, WHO ALL RESIDE IN THE RESIDENTIAL REAL PROPERTY OWNED BY THE TAXPAYER OR TAXPAYERS, AND SHARE ITS FURNISHINGS, FACILITIES AND ACCOM- MODATIONS; PROVIDED THAT NO PERSON MAY BE A MEMBER OF MORE THAN ONE HOUSEHOLD AT ONE TIME. (C) "HOUSEHOLD GROSS INCOME" MEANS THE AGGREGATE ADJUSTED GROSS INCOME OF ALL MEMBERS OF THE HOUSEHOLD FOR THE TAXABLE YEAR AS REPORTED FOR FEDERAL INCOME TAX PURPOSES, OR WHICH WOULD BE REPORTED AS ADJUSTED GROSS INCOME IF A FEDERAL INCOME TAX RETURN WERE REQUIRED TO BE FILED, WITH THE MODIFICATIONS IN SUBSECTION (B) OF SECTION SIX HUNDRED TWELVE OF THIS ARTICLE BUT WITHOUT THE MODIFICATIONS IN SUBSECTION (C) OF SUCH SECTION, PLUS ANY PORTION OF THE GAIN FROM THE SALE OR EXCHANGE OF PROP- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10999-02-9
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