S T A T E O F N E W Y O R K
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11230
I N A S S E M B L Y
May 25, 2010
___________
Introduced by M. of A. McKEVITT -- read once and referred to the Commit-
tee on Ways and Means
AN ACT to amend the tax law, in relation to school tax reductions for
residents in communities that restrict ownership to those fifty-five
years of age and older
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The tax law is amended by adding a new section 1232 to read
as follows:
S 1232. SCHOOL TAX REDUCTION. IN ANY COMMUNITY WHERE ZONING REGU-
LATIONS RESTRICT OWNERSHIP TO THOSE FIFTY-FIVE YEARS OF AGE AND OLDER,
SUCH RESIDENTS SHALL BE ELIGIBLE FOR A TWENTY-FIVE PERCENT REDUCTION IN
SCHOOL TAXES UPON APPROVAL BY THE LOCAL TOWN OR VILLAGE.
S 2. This act shall take effect on the thirtieth day after it shall
have become a law and shall apply to taxable years beginning on or after
January 1, 2011.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD17429-01-0