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Assembly Bill A5009

2009-2010 Legislative Session

Expands the applicability of the real property circuit breaker tax credit

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Archive: Last Bill Status - In Assembly Committee

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2009-A5009 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L

2009-A5009 (ACTIVE) - Summary

Expands the applicability of the real property circuit breaker tax credit by increasing the maximum property value and rent limitations.

2009-A5009 (ACTIVE) - Bill Text download pdf 

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

                                  5009

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 10, 2009
                               ___________

Introduced by M. of A. V. LOPEZ -- read once and referred to the Commit-
  tee on Real Property Taxation

AN  ACT to amend the tax law, in relation to expanding the applicability
  of the real property circuit breaker tax credit

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

  Section  1. Subparagraphs (C) and (D) of paragraph 7 of subsection (e)
of section 606 of the tax law, as amended by chapter 28 of the  laws  of
1987, are amended to read as follows:
  (C)  To  a  property  owner  who owns real property, the full value of
which exceeds ONE HUNDRED eighty-five thousand dollars.
  (D) To a tenant if the adjusted rent for the residence  exceeds  [four
hundred fifty] SEVEN HUNDRED FIFTY dollars per month on average.
  S 2. This act shall take effect immediately and shall apply to taxable
years beginning on or after January 1, 2010.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08360-01-9

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