senate Bill S4346

2013-2014 Legislative Session

Exempts social security payments in determining eligibility for tax exemptions for persons 65 years of age or older

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Archive: Last Bill Status - In Committee


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

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to aging
Mar 21, 2013 referred to aging

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S4346 - Bill Details

Current Committee:
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง467, RPT L
Versions Introduced in Previous Legislative Sessions:
2011-2012: A4179
2009-2010: A7279B

S4346 - Bill Texts

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Excludes social security income in computing eligibility for the tax exemption granted to persons 65 years of age or older.

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BILL NUMBER:S4346

TITLE OF BILL: An act to amend the real property tax law, in relation
to excluding social security income from computing tax exemptions for
persons sixty-five years of age or over

PURPOSE OR GENERAL IDEA OF BILL: This bill would exclude social
security benefits when determining the gross income figure to be used
in applications for exemption from real property taxes.

SUMMARY OF SPECIFIC PROVISIONS: Section 1 amends section 467 of the
real Property tax law by removing social security payments from the
list currently considered income when determining eligibility for the
real property tax exemption.

JUSTIFICATION: The receipt of social security benefits represents to
many senior citizens a return of monies they contributed to the
program during their working years. New York should not penalize
seniors receiving those benefits by factoring their existence into the
formula used to determine exemption eligibility. This legislation
addresses this inequity by removing social security benefits from the
income calculation formula.

PRIOR LEGISLATIVE HISTORY: 2009-10: A. 7279-B, Referred to Aging
Committee 2007-08: A. 6882, Held for Consideration in Aging Committee
2005-06: A. 3378, Held for Consideration in Aging Committee 2003-04:
A. 6650, Held for Consideration in Aging Committee 2001-02: A. 5456,
Held for Consideration in Aging Committee 1999-00: A. 6729, Held for
Consideration in Aging Committee 1997-98: A. 4990, Held for
Consideration in Aging Committee

FISCAL IMPLICATIONS: None at the state level. Local governments would
experience a slight increase in the number of exemptions as a result
of lowered specification for gross income.

EFFECTIVE DATE: This act shall take effect on the second of January
next succeeding the date on which it has become law, and shall apply
to assessment rolls prepared on the basis of taxable status dates
occurring on and after such effective date.

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

                                  4346

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             March 21, 2013
                               ___________

Introduced  by  Sen.  BOYLE  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Aging

AN ACT to amend the real property tax  law,  in  relation  to  excluding
  social  security  income  from  computing  tax  exemptions for persons
  sixty-five years of age or over

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

  Section  1.  Paragraph (a) of subdivision 3 of section 467 of the real
property tax law, as amended by chapter 259 of  the  laws  of  2009,  is
amended to read as follows:
  (a) if the income of the owner or the combined income of the owners of
the  property  for the income tax year immediately preceding the date of
making application for exemption  exceeds  the  sum  of  three  thousand
dollars, or such other sum not less than three thousand dollars nor more
than twenty-six thousand dollars beginning July first, two thousand six,
twenty-seven  thousand dollars beginning July first, two thousand seven,
twenty-eight thousand dollars beginning July first, two thousand  eight,
and  twenty-nine  thousand  dollars  beginning  July first, two thousand
nine, as may be provided by  the  local  law,  ordinance  or  resolution
adopted  pursuant to this section. Income tax year shall mean the twelve
month period for which the owner or  owners  filed  a  federal  personal
income  tax  return,  or  if no such return is filed, the calendar year.
Where title is vested in either the husband or the wife, their  combined
income  may  not  exceed  such sum, except where the husband or wife, or
ex-husband or ex-wife is absent from the property as provided in subpar-
agraph (ii) of paragraph (d) of this subdivision, then only  the  income
of  the spouse or ex-spouse residing on the property shall be considered
and may not exceed such sum. Such income shall include [social  security
and]  retirement benefits, interest, dividends, total gain from the sale
or exchange of a capital asset which may be offset by a  loss  from  the
sale  or  exchange  of  a capital asset in the same income tax year, net

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09579-01-3

S. 4346                             2

rental income, salary or earnings, and net income from  self-employment,
but  shall  not  include  SOCIAL  SECURITY,  a return of capital, gifts,
inheritances, payments made to individuals because of  their  status  as
victims of Nazi persecution, as defined in P.L. 103-286 or monies earned
through  employment  in  the  federal foster grandparent program and any
such income shall  be  offset  by  all  medical  and  prescription  drug
expenses  actually  paid which were not reimbursed or paid for by insur-
ance, if the governing board of a municipality, after a public  hearing,
adopts   a  local  law,  ordinance  or  resolution  providing  therefor.
Furthermore, such income shall not include the  proceeds  of  a  reverse
mortgage,  as  authorized  by  section  six-h  of  the  banking law, and
sections two hundred eighty and two hundred eighty-a of the real proper-
ty law; provided, however, that monies used to repay a reverse  mortgage
may  not  be  deducted  from  income, and provided additionally that any
interest or dividends realized from the investment of  reverse  mortgage
proceeds  shall  be  considered income. The provisions of this paragraph
notwithstanding, such  income  shall  not  include  veterans  disability
compensation,  as defined in Title 38 of the United States Code provided
the governing board of such municipality, after public hearing, adopts a
local law, ordinance or resolution providing therefor.  In computing net
rental income  and  net  income  from  self-employment  no  depreciation
deduction  shall be allowed for the exhaustion, wear and tear of real or
personal property held for the production of income;
  S 2. This act shall take effect on the second of January next succeed-
ing the date on which it shall have become a law,  and  shall  apply  to
assessment rolls prepared on the basis of taxable status dates occurring
on and after such effective date.

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