Assembly Bill A3501

2011-2012 Legislative Session

Includes pension and retirement plans as plans eligible for income reduction when determining eligibility for enhanced STAR exemption

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-A3501 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง425, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: A9375, A3229
2013-2014: A6304

2011-A3501 (ACTIVE) - Summary

Includes pension and retirement plans as plans eligible for income reduction when determining income eligibility for senior citizens under the enhanced STAR exemption.

2011-A3501 (ACTIVE) - Bill Text download pdf 

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

                                  3501

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 25, 2011
                               ___________

Introduced by M. of A. GABRYSZAK, COLTON, CYMBROWITZ, HOOPER, SCHIMMING-
  ER  --  Multi-Sponsored  by  -- M. of A. ABBATE, AUBRY, DESTITO, McDO-
  NOUGH, McENENY, ORTIZ, PHEFFER, TOWNS, WEISENBERG, WRIGHT -- read once
  and referred to the Committee on Real Property Taxation

AN ACT to amend the real property tax  law,  in  relation  to  including
  pension  and  retirement  plans as plans eligible for income reduction
  when determining eligibility for the enhanced 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
retirement  annuity  OR UP TO TWENTY PERCENT OR FIVE THOUSAND DOLLARS OF
ANY PENSION OR RETIREMENT PLAN, WHICHEVER IS GREATER; provided  that  if
no  such  return  was filed for the applicable income tax year, "income"
shall mean the adjusted gross income that would have been so reported if
such a return had been filed.
  S 2. This act shall take effect immediately and shall apply to assess-
ment rolls prepared on the basis of taxable status dates occurring on or
after such effective date.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07815-01-1

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