S T A T E O F N E W Y O R K
________________________________________________________________________
4451
2009-2010 Regular Sessions
I N S E N A T E
April 23, 2009
___________
Introduced by Sen. AUBERTINE -- read twice and ordered printed, and when
printed to be committed to the Committee on Local Government
AN ACT to amend the real property tax law, in relation to school tax
relief (STAR) exemption
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subparagraph (ii) of paragraph (b) of subdivision 4 of
section 425 of the real property tax law, as amended by section 3 of
part E of chapter 83 of the laws of 2002, is amended to read as follows:
(ii) The term "income" as used herein shall mean the "adjusted gross
income" for federal income tax purposes as reported on the applicant's
federal or state income tax return for the applicable income tax year,
subject to any subsequent amendments or revisions, reduced by distrib-
utions, to the extent included in federal adjusted gross income,
received from an individual retirement account and an individual retire-
ment annuity; provided that if no such return was filed for the applica-
ble income tax year, "income" shall mean the adjusted gross income that
would have been so reported if such a return had been filed. FOR FARM
FAMILIES EARNING AT LEAST FIFTY PERCENT OF THEIR INCOME FROM FARMING THE
TERM "INCOME" SHALL MEAN THE "MODIFIED ADJUSTED GROSS INCOME" FOR FEDER-
AL INCOME TAX PURPOSES AS REPORTED IN THE APPLICANT'S FEDERAL OR STATE
INCOME TAX RETURN FOR THE APPLICABLE INCOME TAX YEAR.
S 2. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a law and shall apply to all
tax years thereafter.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08982-01-9