A. 7612 2
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
NOT INCLUDED IN ADJUSTED GROSS INCOME; NONTAXABLE STRIKE BENEFITS;
SUPPLEMENTAL SECURITY INCOME PAYMENTS; THE GROSS AMOUNT OF ANY PENSION
OR ANNUITY BENEFITS TO THE EXTENT NOT INCLUDED IN SUCH ADJUSTED GROSS
INCOME (INCLUDING, BUT NOT LIMITED TO, RAILROAD RETIREMENT BENEFITS AND
ALL PAYMENTS RECEIVED UNDER THE FEDERAL SOCIAL SECURITY ACT AND VETER-
ANS' DISABILITY PENSIONS); NONTAXABLE INTEREST RECEIVED FROM THE STATE
OF NEW YORK, ITS AGENCIES, INSTRUMENTALITIES, PUBLIC CORPORATIONS, OR
POLITICAL SUBDIVISIONS (INCLUDING A PUBLIC CORPORATION CREATED PURSUANT
TO AGREEMENT OR COMPACT WITH ANOTHER STATE OR CANADA); WORKERS' COMPEN-
SATION; THE GROSS AMOUNT OF "LOSS-OF-TIME" INSURANCE; AND THE AMOUNT OF
CASH PUBLIC ASSISTANCE AND RELIEF, OTHER THAN MEDICAL ASSISTANCE FOR THE
NEEDY, PAID TO OR FOR THE BENEFIT OF THE QUALIFIED TAXPAYER OR MEMBERS
OF HIS OR HER HOUSEHOLD. HOUSEHOLD GROSS INCOME SHALL NOT INCLUDE
SURPLUS FOODS OR OTHER RELIEF IN KIND OR PAYMENTS MADE TO INDIVIDUALS
BECAUSE OF THEIR STATUS AS VICTIMS OF NAZI PERSECUTION AS DEFINED IN
P.L. 103-286. PROVIDED, FURTHER, HOUSEHOLD GROSS INCOME SHALL ONLY
INCLUDE ALL SUCH INCOME RECEIVED BY ALL MEMBERS OF THE HOUSEHOLD WHILE
MEMBERS OF SUCH HOUSEHOLD.
(D) "RESIDENCE" MEANS A DWELLING IN THIS STATE, WHETHER OWNED OR RENT-
ED, AND SO MUCH OF THE LAND ABUTTING IT, NOT EXCEEDING ONE ACRE, AS IS
REASONABLY NECESSARY FOR USE OF THE DWELLING AS A HOME, AND MAY CONSIST
OF A PART OF A MULTI-DWELLING OR MULTI-PURPOSE BUILDING INCLUDING A
COOPERATIVE OR CONDOMINIUM, AND RENTAL UNITS WITHIN A SINGLE DWELLING.
RESIDENCE INCLUDES A TRAILER OR MOBILE HOME, USED EXCLUSIVELY FOR RESI-
DENTIAL PURPOSES AND DEFINED AS REAL PROPERTY PURSUANT TO PARAGRAPH (G)
OF SUBDIVISION TWELVE OF SECTION ONE HUNDRED TWO OF THE REAL PROPERTY
TAX LAW.
(E) "QUALIFYING REAL PROPERTY TAXES" MEANS ALL REAL PROPERTY TAXES,
SPECIAL AD VALOREM LEVIES AND SPECIAL ASSESSMENTS, EXCLUSIVE OF PENAL-
TIES AND INTEREST, LEVIED ON THE RESIDENCE OF A QUALIFIED TAXPAYER AND
PAID DURING THE TAXABLE YEAR. IN ADDITION, A QUALIFIED TAXPAYER MAY
ELECT TO INCLUDE ANY ADDITIONAL AMOUNT THAT WOULD HAVE BEEN LEVIED IN
THE ABSENCE OF AN EXEMPTION FROM REAL PROPERTY TAXATION PURSUANT TO
SECTION FOUR HUNDRED SIXTY-SEVEN OF THE REAL PROPERTY TAX LAW. IF
TENANT-STOCKHOLDERS IN A COOPERATIVE HOUSING CORPORATION HAVE MET THE
REQUIREMENTS OF SECTION TWO HUNDRED SIXTEEN OF THE INTERNAL REVENUE CODE
BY WHICH THEY ARE ALLOWED A DEDUCTION FOR REAL ESTATE TAXES, THE AMOUNT
OF TAXES SO ALLOWABLE, OR WHICH WOULD BE ALLOWABLE IF THE TAXPAYER HAD
FILED RETURNS ON A CASH BASIS, SHALL BE QUALIFYING REAL PROPERTY TAXES.
IF A RESIDENCE IS OWNED BY TWO OR MORE INDIVIDUALS AS JOINT TENANTS OR
TENANTS IN COMMON, AND ONE OR MORE THAN ONE INDIVIDUAL IS NOT A MEMBER
OF THE HOUSEHOLD, QUALIFYING REAL PROPERTY TAXES IS THAT PART OF SUCH
TAXES ON THE RESIDENCE WHICH REFLECTS THE OWNERSHIP PERCENTAGE OF THE
QUALIFIED TAXPAYER AND MEMBERS OF HIS OR HER HOUSEHOLD. IF A RESIDENCE
IS AN INTEGRAL PART OF A LARGER UNIT, QUALIFYING REAL PROPERTY TAXES
SHALL BE LIMITED TO THAT AMOUNT OF SUCH TAXES PAID AS MAY BE REASONABLY
APPORTIONED TO SUCH RESIDENCE. IF A HOUSEHOLD OWNS AND OCCUPIES TWO OR
MORE RESIDENCES DURING DIFFERENT PERIODS IN THE SAME TAXABLE YEAR, QUAL-
IFYING REAL PROPERTY TAXES SHALL BE THE SUM OF THE PRORATED QUALIFYING
REAL PROPERTY TAXES ATTRIBUTABLE TO THE HOUSEHOLD DURING THE PERIODS
SUCH HOUSEHOLD OCCUPIES EACH OF SUCH RESIDENCES. IF THE HOUSEHOLD OWNS
AND OCCUPIES A RESIDENCE FOR PART OF THE TAXABLE YEAR AND RENTS A RESI-
DENCE FOR PART OF THE SAME TAXABLE YEAR, IT MAY INCLUDE BOTH THE
A. 7612 3
PRORATION OF QUALIFYING REAL PROPERTY TAXES ON THE RESIDENCE OWNED AND
THE REAL PROPERTY TAX EQUIVALENT WITH RESPECT TO THE MONTHS THE RESI-
DENCE IS RENTED. PROVIDED, HOWEVER, FOR PURPOSES OF THE CREDIT ALLOWED
UNDER THIS SUBSECTION, QUALIFYING REAL PROPERTY TAXES MAY BE INCLUDED BY
A QUALIFIED TAXPAYER ONLY TO THE EXTENT THAT SUCH TAXPAYER OR THE SPOUSE
OF SUCH TAXPAYER OCCUPYING SUCH RESIDENCE FOR SIX MONTHS OR MORE OF THE
TAXABLE YEAR OWNS OR HAS OWNED THE RESIDENCE AND PAID SUCH TAXES.
(F) "REAL PROPERTY TAX EQUIVALENT" MEANS TWENTY-FIVE PERCENT OF THE
ADJUSTED RENT ACTUALLY PAID IN THE TAXABLE YEAR BY A HOUSEHOLD SOLELY
FOR THE RIGHT OF OCCUPANCY OF ITS NEW YORK RESIDENCE FOR THE TAXABLE
YEAR. IF (I) A RESIDENCE IS RENTED TO TWO OR MORE INDIVIDUALS AS COTEN-
ANTS, OR SUCH INDIVIDUALS SHARE IN THE PAYMENT OF A SINGLE RENT FOR THE
RIGHT OF OCCUPANCY OF SUCH RESIDENCE, AND (II) EACH OF SUCH INDIVIDUALS
IS A MEMBER OF A DIFFERENT HOUSEHOLD, ONE OR MORE OF WHICH INDIVIDUALS
SHARES SUCH RESIDENCE, REAL PROPERTY TAX EQUIVALENT IS THAT PORTION OF
TWENTY-FIVE PERCENT OF THE ADJUSTED RENT PAID IN THE TAXABLE YEAR WHICH
REFLECTS THAT PORTION OF THE RENT ATTRIBUTABLE TO THE QUALIFIED TAXPAYER
AND THE MEMBERS OF HIS OR HER HOUSEHOLD.
(G) "ADJUSTED RENT" MEANS RENTAL PAID FOR THE RIGHT OF OCCUPANCY OF A
RESIDENCE, EXCLUDING CHARGES FOR HEAT, GAS, ELECTRICITY, FURNISHINGS AND
BOARD. WHERE CHARGES FOR HEAT, GAS, ELECTRICITY, FURNISHING OR BOARD ARE
INCLUDED IN RENTAL BUT WHERE SUCH CHARGES AND THE AMOUNT THEREOF ARE NOT
SEPARATELY SET FORTH IN A WRITTEN RENTAL AGREEMENT, FOR PURPOSES OF
DETERMINING ADJUSTED RENT THE QUALIFIED TAXPAYER SHALL REDUCE RENTAL
PAID AS FOLLOWS:
(I) FOR HEAT, OR HEAT AND GAS, DEDUCT FIFTEEN PERCENT OF RENTAL PAID.
(II) FOR HEAT, GAS AND ELECTRICITY, DEDUCT TWENTY PERCENT OF RENTAL
PAID.
(III) FOR HEAT, GAS, ELECTRICITY AND FURNISHINGS, DEDUCT TWENTY-FIVE
PERCENT OF RENTAL PAID.
(IV) FOR HEAT, GAS, ELECTRICITY, FURNISHINGS AND BOARD, DEDUCT FIFTY
PERCENT OF RENTAL PAID.
IF THE DEPARTMENT DETERMINES THAT THE ADJUSTED RENT SHOWN ON THE
RETURN IS EXCESSIVE, THE DEPARTMENT MAY REDUCE SUCH RENT, FOR PURPOSES
OF THE COMPUTATION OF THE CREDIT, TO AN AMOUNT SUBSTANTIALLY EQUIVALENT
TO RENT FOR A COMPARABLE ACCOMMODATION.
(2) A QUALIFIED TAXPAYER SHALL BE ALLOWED A CREDIT AS PROVIDED IN
PARAGRAPH THREE OF THIS SUBSECTION AGAINST THE TAXES IMPOSED BY THIS
ARTICLE REDUCED BY THE CREDITS PERMITTED BY THIS ARTICLE. IF THE CREDIT
EXCEEDS THE TAX AS SO REDUCED FOR SUCH YEAR UNDER THIS ARTICLE THE QUAL-
IFIED TAXPAYER MAY RECEIVE, AND THE COMPTROLLER, SUBJECT TO A CERTIF-
ICATE OF THE DEPARTMENT, SHALL PAY AS AN OVERPAYMENT, WITHOUT INTEREST,
ANY EXCESS BETWEEN SUCH TAX AS SO REDUCED AND THE AMOUNT OF THE CREDIT.
IF A QUALIFIED TAXPAYER IS NOT REQUIRED TO FILE A RETURN PURSUANT TO
SECTION SIX HUNDRED FIFTY-ONE OF THIS ARTICLE, A QUALIFIED TAXPAYER MAY
NEVERTHELESS RECEIVE AND THE COMPTROLLER, SUBJECT TO A CERTIFICATE OF
THE DEPARTMENT, SHALL PAY AS AN OVERPAYMENT THE FULL AMOUNT OF THE CRED-
IT, WITHOUT INTEREST.
(3) FOR QUALIFIED TAXPAYERS, THE AMOUNT OF THE CREDIT ALLOWABLE UNDER
THIS SUBSECTION SHALL BE FIFTY PERCENT OF THE EXCESS OF REAL PROPERTY
TAXES OR THE EXCESS OF REAL PROPERTY TAX EQUIVALENT DETERMINED AS
FOLLOWS:
EXCESS REAL PROPERTY TAXES ARE THE
EXCESS OF REAL PROPERTY TAX EQUIV-
ALENT OR THE EXCESS OF QUALIFYING
A. 7612 4
REAL PROPERTY TAXES OVER THE FOLLOW-
IF HOUSEHOLD GROSS INCOME FOR ING PERCENTAGE OF HOUSEHOLD GROSS
THE TAXABLE YEAR IS: INCOME:
_____________________________ ____________________________________
$40,000 OR LESS 3 1/2
OVER $40,000 BUT NOT OVER $46,500 4
OVER $46,500 BUT NOT OVER $53,000 4 1/2
OVER $53,000 BUT NOT OVER $60,000 5
OVER $60,000 BUT NOT OVER $66,500 5 1/2
OVER $66,500 BUT NOT OVER $73,000 6
OVER $73,000 BUT NOT OVER $80,000 6 1/2
NOTWITHSTANDING THE FOREGOING PROVISIONS, THE MAXIMUM CREDIT DETER-
MINED UNDER THIS SUBPARAGRAPH MAY NOT EXCEED THE AMOUNT DETERMINED IN
ACCORDANCE WITH THE FOLLOWING TABLE:
IF HOUSEHOLD GROSS INCOME THE MAXIMUM CREDIT IS:
FOR THE TAXABLE YEAR IS:
_________________________________ ____________________________________
$40,000 OR LESS $800
OVER $40,000 BUT NOT OVER $45,000 $708
OVER $45,000 BUT NOT OVER $50,000 $616
OVER $50,000 BUT NOT OVER $55,000 $524
OVER $55,000 BUT NOT OVER $60,000 $432
OVER $60,000 BUT NOT OVER $65,000 $340
OVER $65,000 BUT NOT OVER $70,000 $248
OVER $70,000 BUT NOT OVER $75,000 $156
OVER $75,000 BUT NOT OVER $80,000 $64
(4) IF A QUALIFIED TAXPAYER OCCUPIES A RESIDENCE FOR A PERIOD OF LESS
THAN TWELVE MONTHS DURING THE TAXABLE YEAR OR OCCUPIES TWO OR MORE RESI-
DENCES DURING DIFFERENT PERIODS IN SUCH TAXABLE YEAR, THE CREDIT ALLOWED
PURSUANT TO THIS SUBSECTION SHALL BE COMPUTED IN SUCH MANNER AS THE
DEPARTMENT MAY, BY REGULATION, PRESCRIBE IN ORDER TO PROPERLY REFLECT
THE CREDIT OR PORTION THEREOF ATTRIBUTABLE TO SUCH RESIDENCE OR RESI-
DENCES AND SUCH PERIOD OR PERIODS.
(5) THE DEPARTMENT MAY PRESCRIBE THAT THE CREDIT UNDER THIS SUBSECTION
SHALL BE DETERMINED IN WHOLE OR IN PART BY THE USE OF TABLES PRESCRIBED
BY THE DEPARTMENT. SUCH TABLES SHALL SET FORTH THE CREDIT TO THE NEAREST
DOLLAR.
(6) ONLY ONE CREDIT PER HOUSEHOLD AND PER QUALIFIED TAXPAYER SHALL BE
ALLOWED PER TAXABLE YEAR UNDER THIS SUBSECTION. WHEN TWO OR MORE MEMBERS
OF A HOUSEHOLD ARE ABLE TO MEET THE QUALIFICATIONS FOR A QUALIFIED
TAXPAYER, THE CREDIT SHALL BE EQUALLY DIVIDED BETWEEN OR AMONG SUCH
INDIVIDUALS UNLESS SUCH INDIVIDUALS FILE WITH THE DEPARTMENT A WRITTEN
AGREEMENT AMONG SUCH INDIVIDUALS SETTING FORTH A DIFFERENT DIVISION.
(A) PROVIDED, HOWEVER, WHERE A JOINT INCOME TAX RETURN HAS BEEN FILED
PURSUANT TO THE PROVISIONS OF SECTION SIX HUNDRED FIFTY-ONE OF THIS
ARTICLE BY A QUALIFIED TAXPAYER AND HIS OR HER SPOUSE (OR WHERE BOTH
SPOUSES ARE QUALIFIED TAXPAYERS AND HAVE FILED SUCH JOINT RETURN), THE
CREDIT, OR THE PORTION OF THE CREDIT IF DIVIDED, TO WHICH THE HUSBAND
AND WIFE ARE ENTITLED SHALL BE APPLIED AGAINST THE TAX OF BOTH SPOUSES
AND ANY OVERPAYMENT SHALL BE MADE TO BOTH SPOUSES.
(B) WHERE ANY RETURN REQUIRED TO BE FILED PURSUANT TO THE PROVISIONS
OF SECTION SIX HUNDRED FIFTY-ONE OF THIS ARTICLE IS COMBINED WITH ANY
RETURN OF TAX IMPOSED PURSUANT TO THE AUTHORITY OF THIS CHAPTER OR ANY
A. 7612 5
OTHER LAW IF SUCH TAX IS ADMINISTERED BY THE DEPARTMENT, THE CREDIT OR
THE PORTION OF THE CREDIT IF DIVIDED, ALLOWED TO THE QUALIFIED TAXPAYER
MAY BE APPLIED BY THE DEPARTMENT TOWARD ANY LIABILITY FOR THE AFOREMEN-
TIONED TAXES.
(7) NO CREDIT SHALL BE GRANTED UNDER THIS SUBSECTION:
(A) IF HOUSEHOLD GROSS INCOME FOR THE TAXABLE YEAR EXCEEDS EIGHTY
THOUSAND DOLLARS.
(B) TO A PROPERTY OWNER UNLESS: (I) THE PROPERTY IS USED FOR RESIDEN-
TIAL PURPOSES, (II) NOT MORE THAN TWENTY PERCENT OF THE RENTAL INCOME,
IF ANY, FROM THE PROPERTY IS FROM RENTAL FOR NONRESIDENTIAL PURPOSES AND
(III) THE PROPERTY IS OCCUPIED AS A RESIDENCE IN WHOLE OR IN PART BY ONE
OR MORE OF THE OWNERS OF THE PROPERTY.
(C) TO A PROPERTY OWNER WHO OWNS REAL PROPERTY, THE FULL VALUE OF
WHICH EXCEEDS THREE HUNDRED THOUSAND DOLLARS.
(D) TO A TENANT IF THE ADJUSTED RENT FOR THE RESIDENCE EXCEEDS ONE
THOUSAND ONE HUNDRED TWENTY-FIVE DOLLARS PER MONTH ON AVERAGE.
(E) TO AN INDIVIDUAL WITH RESPECT TO WHOM A DEDUCTION UNDER SUBSECTION
(C) OF SECTION ONE HUNDRED FIFTY-ONE OF THE INTERNAL REVENUE CODE IS
ALLOWABLE TO ANOTHER TAXPAYER FOR THE TAXABLE YEAR.
(F) WITH RESPECT TO A RESIDENCE THAT IS WHOLLY EXEMPTED FROM REAL
PROPERTY TAXATION.
(G) TO AN INDIVIDUAL WHO IS NOT A RESIDENT INDIVIDUAL OF THE STATE OF
NEW YORK FOR THE ENTIRE TAXABLE YEAR.
(8) IF A QUALIFIED TAXPAYER IS NOT REQUIRED TO FILE A RETURN PURSUANT
TO SECTION SIX HUNDRED FIFTY-ONE OF THIS ARTICLE, A CLAIM FOR A CREDIT
MAY BE TAKEN ON A RETURN FILED WITH THE DEPARTMENT WITHIN THREE YEARS
FROM THE TIME IT WOULD HAVE BEEN REQUIRED THAT A RETURN BE FILED PURSU-
ANT TO SUCH SECTION HAD THE QUALIFIED TAXPAYER HAD A TAXABLE YEAR ENDING
ON DECEMBER THIRTY-FIRST. RETURNS UNDER THIS PARAGRAPH SHALL BE IN SUCH
FORM AS SHALL BE PRESCRIBED BY THE DEPARTMENT, WHICH SHALL MAKE AVAIL-
ABLE SUCH FORMS AND INSTRUCTIONS FOR FILING SUCH RETURNS.
(9) THE DEPARTMENT MAY REQUIRE A QUALIFIED TAXPAYER TO FURNISH THE
FOLLOWING INFORMATION IN SUPPORT OF HIS OR HER CLAIM FOR CREDIT UNDER
THIS SUBSECTION: HOUSEHOLD GROSS INCOME, RENT PAID, NAME AND ADDRESS OF
OWNER OR MANAGING AGENT OF THE PROPERTY RENTED, REAL PROPERTY TAXES
LEVIED OR THAT WOULD HAVE BEEN LEVIED IN THE ABSENCE OF AN EXEMPTION
FROM REAL PROPERTY TAX PURSUANT TO SECTION FOUR HUNDRED SIXTY-SEVEN OF
THE REAL PROPERTY TAX LAW, THE NAMES OF MEMBERS OF THE HOUSEHOLD AND
OTHER QUALIFYING TAXPAYERS OCCUPYING THE SAME RESIDENCE AND THEIR IDEN-
TIFYING NUMBERS INCLUDING SOCIAL SECURITY NUMBERS, HOUSEHOLD GROSS
INCOME, SIZE AND NATURE OF PROPERTY CLAIMED AS RESIDENCE AND ALL OTHER
INFORMATION WHICH MAY BE REQUIRED BY THE DEPARTMENT TO DETERMINE THE
CREDIT.
(10) THE PROVISIONS OF THIS ARTICLE, INCLUDING THE PROVISIONS OF
SECTIONS SIX HUNDRED FIFTY-THREE, SIX HUNDRED FIFTY-EIGHT, AND SIX
HUNDRED FIFTY-NINE AND THE PROVISIONS OF PART SIX OF THIS ARTICLE RELAT-
ING TO PROCEDURE AND ADMINISTRATION, INCLUDING THE JUDICIAL REVIEW OF
THE DECISIONS OF THE DEPARTMENT, EXCEPT SO MUCH OF SECTION SIX HUNDRED
EIGHTY-SEVEN OF THIS ARTICLE WHICH PERMITS A CLAIM FOR CREDIT OR REFUND
TO BE FILED AFTER THE PERIOD PROVIDED FOR IN PARAGRAPH EIGHT OF THIS
SUBSECTION AND EXCEPT SECTIONS SIX HUNDRED FIFTY-SEVEN, SIX HUNDRED
EIGHTY-EIGHT AND SIX HUNDRED NINETY-SIX OF THIS ARTICLE, SHALL APPLY TO
THE PROVISIONS OF THIS SUBSECTION IN THE SAME MANNER AND WITH THE SAME
FORCE AND EFFECT AS IF THE LANGUAGE OF THOSE PROVISIONS HAD BEEN INCOR-
PORATED IN FULL INTO THIS SUBSECTION AND HAD EXPRESSLY REFERRED TO THE
CREDIT ALLOWED OR RETURNS FILED UNDER THIS SUBSECTION, EXCEPT TO THE
A. 7612 6
EXTENT THAT ANY SUCH PROVISION IS EITHER INCONSISTENT WITH A PROVISION
OF THIS SUBSECTION OR IS NOT RELEVANT TO THIS SUBSECTION. AS USED IN
SUCH SECTIONS AND SUCH PART, THE TERM "TAXPAYER" SHALL INCLUDE A QUALI-
FIED TAXPAYER UNDER THIS SUBSECTION AND, NOTWITHSTANDING THE PROVISIONS
OF SUBSECTION (E) OF SECTION SIX HUNDRED NINETY-SEVEN OF THIS ARTICLE,
WHERE A QUALIFIED TAXPAYER HAS PROTESTED THE DENIAL OF A CLAIM FOR CRED-
IT UNDER THIS SUBSECTION AND THE TIME TO FILE A PETITION FOR REDETERMI-
NATION OF A DEFICIENCY OR FOR REFUND HAS NOT EXPIRED, HE OR SHE SHALL,
SUBJECT TO SUCH CONDITIONS AS MAY BE SET BY THE DEPARTMENT, RECEIVE SUCH
INFORMATION (A) WHICH IS CONTAINED IN ANY RETURN FILED UNDER THIS ARTI-
CLE BY A MEMBER OF HIS OR HER HOUSEHOLD FOR THE TAXABLE YEAR FOR WHICH
THE CREDIT IS CLAIMED, AND (B) WHICH THE DEPARTMENT FINDS IS RELEVANT
AND MATERIAL TO THE ISSUE OF WHETHER SUCH CLAIM WAS PROPERLY DENIED. THE
DEPARTMENT SHALL HAVE THE AUTHORITY TO PROMULGATE SUCH RULES AND REGU-
LATIONS AS MAY BE NECESSARY FOR THE PROCESSING, DETERMINATION AND GRANT-
ING OF CREDITS AND REFUNDS UNDER THIS SUBSECTION.
(11) THE COMMISSIONER MAY REQUEST THE COOPERATION OF THE STATE BOARD
OF REAL PROPERTY SERVICES IN CARRYING OUT THE PROVISIONS OF THIS
SUBSECTION. SUCH BOARD MAY PROMULGATE SUCH RULES AND REGULATIONS,
SUBJECT TO PRIOR CONSULTATION WITH THE COMMISSIONER, AS MAY BE NECESSARY
TO PROVIDE SUCH ASSISTANCE WITH RESPECT TO THE DETERMINATION OF FULL
VALUE OF REAL PROPERTY FOR PURPOSES OF THE CREDIT ALLOWED UNDER THIS
SUBSECTION.
(12) NOTWITHSTANDING ANY OTHER PROVISION OF THIS ARTICLE, THE CREDIT
ALLOWED UNDER THIS SUBSECTION SHALL BE DETERMINED AFTER THE DETERMI-
NATION AND APPLICATION OF ANY OTHER CREDITS PERMITTED UNDER THE
PROVISIONS OF THIS ARTICLE.
(13) THE COMMISSIONER SHALL PREPARE A PRELIMINARY WRITTEN REPORT AFTER
JULY THIRTY-FIRST AND A FINAL WRITTEN REPORT AFTER DECEMBER THIRTY-FIRST
OF EACH CALENDAR YEAR, WHICH SHALL CONTAIN STATISTICAL INFORMATION
REGARDING THE CREDITS GRANTED ON OR BEFORE SUCH DATES UNDER THIS
SUBSECTION DURING SUCH CALENDAR YEAR. COPIES OF THESE REPORTS SHALL BE
SUBMITTED BY SUCH COMMISSIONER TO THE GOVERNOR, THE TEMPORARY PRESIDENT
OF THE SENATE, THE SPEAKER OF THE ASSEMBLY, THE CHAIRMAN OF THE SENATE
FINANCE COMMITTEE AND THE CHAIRMAN OF THE ASSEMBLY WAYS AND MEANS
COMMITTEE WITHIN SIXTY DAYS OF JULY THIRTY-FIRST WITH RESPECT TO THE
PRELIMINARY REPORT, AND WITHIN FORTY-FIVE DAYS OF DECEMBER THIRTY-FIRST
WITH RESPECT TO THE FINAL REPORT. SUCH REPORTS SHALL CONTAIN, BUT NEED
NOT BE LIMITED TO, THE NUMBER OF CREDITS AND THE AVERAGE AMOUNT OF SUCH
CREDITS ALLOWED; AND OF THOSE, THE NUMBER OF CREDITS AND THE AVERAGE
AMOUNT OF SUCH CREDITS ALLOWED TO QUALIFIED TAXPAYERS IN EACH COUNTY;
AND OF THOSE, THE NUMBER OF CREDITS AND THE AVERAGE AMOUNT OF SUCH CRED-
ITS ALLOWED TO QUALIFIED TAXPAYERS WHOSE HOUSEHOLD GROSS INCOME FALLS
WITHIN EACH OF THE HOUSEHOLD GROSS INCOME RANGES SET FORTH IN PARAGRAPH
THREE OF THIS SUBSECTION; AND OF THOSE, THE NUMBER OF CREDITS AND THE
AVERAGE AMOUNT OF SUCH CREDITS ALLOWED TO QUALIFIED TAXPAYERS WHOSE
CREDIT AMOUNT FALLS WITHIN CREDIT AMOUNT RANGES SET FORTH IN TWENTY-FIVE
DOLLAR INCREMENTS.
S 2. This act shall take effect immediately and shall apply to the
taxable year in which it shall take effect and to all subsequent taxable
years.