|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 04, 2012||referred to local government|
|Jan 19, 2011||referred to local government|
senate Bill S2376
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S2376 - Details
S2376 - Summary
Provides school tax exemption relief (STAR) to small business with 20 or fewer employees.
S2376 - Sponsor Memo
BILL NUMBER:S2376 TITLE OF BILL: An act to amend the real property tax law, in relation to extending the benefits of the STAR program to small businesses PURPOSE: To make real property owned by a small business eligible for the STAR program. SUMMARY OF PROVISIONS: Section 1 would amend subdivision 3 of section 425 of the real property tax law by adding real property owned by a small business to the list of categories eligible for the STAR program, and defines "small business" as one which employs twenty persons or less. Section 2 provides for an immediate effective date, applicable to taxable years beginning on and after January 1, 2011. JUSTIFICATION: The STAR program provides for a partial exemption from school property taxes for
S2376 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2376 2011-2012 Regular Sessions I N S E N A T E January 19, 2011 ___________ Introduced by Sens. SEWARD, BONACIC, DeFRANCISCO, FUSCHILLO, GRISANTI, LARKIN, MAZIARZ, O'MARA, RANZENHOFER -- read twice and ordered print- ed, and when printed to be committed to the Committee on Local Govern- ment AN ACT to amend the real property tax law, in relation to extending the benefits of the STAR program to small businesses THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 3 of section 425 of the real property tax law, as added by section 1 of part B of chapter 389 of the laws of 1997, paragraph (a) as amended by chapter 264 of the laws of 2000, paragraph (b-1) as added by section 1 of part FF of chapter 57 of the laws of 2010, paragraph (d) as added by chapter 443 of the laws of 2003 and paragraph (e) as added by section 2 of part W of chapter 57 of the laws of 2008, is amended to read as follows: 3. Eligibility requirements. (a) Property use. To qualify for exemption pursuant to this section, the property must be a one, two or three family residence, a farm dwelling, A SMALL BUSINESS or residential property held in condominium or cooperative form of ownership. If the property is not an eligible type of property, but a portion of the prop- erty is partially used by the owner as a primary residence, that portion which is so used shall be entitled to the exemption provided by this section; provided that in no event shall the exemption exceed the assessed value attributable to that portion. (b) Primary residence. The property must serve as the primary resi- dence of one or more of the owners thereof, UNLESS SUCH PROPERTY IS OWNED BY A SMALL BUSINESS AS DEFINED IN PARAGRAPH (F) OF THIS SUBDIVI- SION. (b-1) Income. For final assessment rolls to be used for the levy of taxes for the two thousand eleven-two thousand twelve school year and thereafter, the parcel's affiliated income may be no greater than five EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05745-01-1
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