Senate Bill S6518

2015-2016 Legislative Session

Relates to extending the benefits of the STAR program to small businesses

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Local Government 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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2015-S6518 (ACTIVE) - Details

See Assembly Version of this Bill:
A9225
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §425, RPT L
Versions Introduced in Other Legislative Sessions:
2017-2018: S1116, A9734
2019-2020: S2460
2021-2022: S1944
2023-2024: S5110

2015-S6518 (ACTIVE) - Summary

Relates to extending the benefits of the STAR program to small businesses; defines small business as a business which employs one hundred persons or less.

2015-S6518 (ACTIVE) - Sponsor Memo

2015-S6518 (ACTIVE) - Bill Text download pdf

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

                                  6518

                            I N  S E N A T E

                            January 22, 2016
                               ___________

Introduced  by  Sen.  AKSHAR -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

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 amended by chapter 564 of the laws of 2015, para-
graph (e) as added by section 2 of part W of chapter 57 of the  laws  of
2008, and paragraph (f) as added by section 1 of part B of chapter 59 of
the laws of 2012, 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, 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 (G) 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
hundred  thousand dollars, as determined by the commissioner of taxation
and finance pursuant to section one hundred  seventy-one-u  of  the  tax
law,  in order to be eligible for the basic exemption authorized by this
section. As used herein, the term "affiliated  income"  shall  mean  the

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

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