assembly Bill A3979A

2011-2012 Legislative Session

Relates to increasing the maximum real property tax circuit breaker tax credit

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (5)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 19, 2012 held for consideration in ways and means
Jan 04, 2012 print number 3979a
amend and recommit to ways and means
referred to ways and means
Jan 31, 2011 referred to ways and means

Co-Sponsors

Multi-Sponsors

view additional multi-sponsors

A3979 - Details

See Senate Version of this Bill:
S291A
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2009-2010 Legislative Session:
A2744, S4154A

A3979 - Summary

Increases the maximum real property tax circuit breaker tax credit.

A3979 - Bill Text download pdf

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

                                  3979

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 31, 2011
                               ___________

Introduced  by  M.  of A. ROBINSON, COLTON, STEVENSON, GIBSON, JAFFEE --
  Multi-Sponsored by -- M. of  A.  AMEDORE,  CERETTO,  CROUCH,  SAYWARD,
  SWEENEY, THIELE -- read once and referred to the Committee on Ways and
  Means

AN  ACT to amend the tax law, in relation to increasing the maximum real
  property tax circuit breaker credit

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

  Section  1.  Paragraph  3  of subsection (e) of section 606 of the tax
law, as amended by chapter 28 of the laws of 1987, is amended to read as
follows:
  (3) Determination of credit. (A)  For  qualified  taxpayers  who  have
attained  the  age of sixty-five years before the beginning of or during
the  taxable  year  the  amount  of  the  credit  allowable  under  this
subsection shall be fifty percent, or in the case of a qualified taxpay-
er  who has elected to include an additional amount pursuant to subpara-
graph (E) of paragraph one of this subsection, twenty-five  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
                                   real property taxes over the follow-
If household gross income for      ing percentage of household gross
the taxable year is:               income:
_____________________________       ____________________________________

$3,000 or less                                       3 1/2
Over $3,000 but not over $5,000                      4
Over $5,000 but not over $7,000                      4 1/2

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01411-01-1

Co-Sponsors

Multi-Sponsors

view additional multi-sponsors

A3979A (ACTIVE) - Details

See Senate Version of this Bill:
S291A
Current Committee:
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in 2009-2010 Legislative Session:
A2744, S4154A

A3979A (ACTIVE) - Summary

Increases the maximum real property tax circuit breaker tax credit.

A3979A (ACTIVE) - Bill Text download pdf

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

                                 3979--A

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 31, 2011
                               ___________

Introduced  by  M.  of  A.  ROBINSON, COLTON, STEVENSON, GIBSON, JAFFEE,
  WEPRIN -- Multi-Sponsored by -- M. of  A.  AMEDORE,  CERETTO,  CROUCH,
  GABRYSZAK,  SAYWARD,  SWEENEY, THIELE -- read once and referred to the
  Committee on Ways and Means --  committee  discharged,  bill  amended,
  ordered reprinted as amended and recommitted to said committee

AN  ACT to amend the tax law, in relation to increasing the maximum real
  property tax circuit breaker credit

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

  Section  1.  Paragraph  3  of subsection (e) of section 606 of the tax
law, as amended by chapter 28 of the laws of 1987, is amended to read as
follows:
  (3) Determination of credit. (A)  For  qualified  taxpayers  who  have
attained  the  age of sixty-five years before the beginning of or during
the  taxable  year  the  amount  of  the  credit  allowable  under  this
subsection shall be fifty percent, or in the case of a qualified taxpay-
er  who has elected to include an additional amount pursuant to subpara-
graph (E) of paragraph one of this subsection, twenty-five  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
                                   real property taxes over the follow-
If household gross income for      ing percentage of household gross
the taxable year is:               income:
_____________________________       ____________________________________

$3,000 or less                                       3 1/2

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01411-03-1

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