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Assembly Bill A9892

2015-2016 Legislative Session

Relates to property tax credits for farmers

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Archive: Last Bill Status - In Assembly Committee

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2015-A9892 (ACTIVE) - Details

See Senate Version of this Bill:
S7170
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd ยง606, Tax L
Versions Introduced in 2017-2018 Legislative Session:
A4650, S2899

2015-A9892 (ACTIVE) - Summary

Relates to property tax credits for farmers; adds property owned in trust to which a taxpayer is a beneficiary to qualified agricultural property.

2015-A9892 (ACTIVE) - Bill Text download pdf 

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

                                  9892

                          I N  A S S E M B L Y

                             April 22, 2016
                               ___________

Introduced  by M. of A. MAGEE -- read once and referred to the Committee
  on Ways and Means

AN ACT to amend the tax law, in relation to  property  tax  credits  for
  farmers

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

  Section 1. Paragraph 3 of subsection (n) of section  606  of  the  tax
law,  as  amended by chapter 728 of the laws of 2005, is amended to read
as follows:
  (3) School district property taxes. For purposes of  this  subsection,
the  term  "school  district  property  taxes" means all property taxes,
special ad valorem levies and special assessments, exclusive  of  penal-
ties  and interest, levied for school district purposes on the qualified
agricultural property (A) owned by the taxpayer [or], (B) owned  by  the
father,  mother,  grandfather,  grandmother,  brother  or  sister of the
taxpayer  and  a  written  agreement  expressing  intent  to  eventually
purchase  the land has been entered into, OR (C) OWNED BY TRUST TO WHICH
THE TAXPAYER IS A BENEFICIARY.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14882-02-6

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