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

                                 798--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced  by  Sens. RANZENHOFER, DeFRANCISCO, LARKIN -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Local  Government  -- recommitted to the Committee on Local Government
  in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN  ACT  to  amend  the real property tax law, in relation to school tax
  relief program (STAR) savings calculation

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

  Section  1.  Subdivision  2 of section 1306-a of the real property tax
law, as amended by section 6 of part N of chapter  58  of  the  laws  of
2011, is amended to read as follows:
  2.  Tax  savings. (a)(i) The tax savings for each parcel receiving the
exemption authorized by section four hundred twenty-five of this chapter
shall be computed by subtracting the amount actually levied against  the
parcel  from  the  amount  that  would  have  been levied if not for the
exemption, provided  however,  that  beginning  with  the  two  thousand
eleven-two  thousand  twelve  school year, the tax savings applicable to
any "portion" (which as used herein shall mean that part of an assessing
unit located within a school district) shall not exceed the tax  savings
applicable  to  that  portion in the prior school year multiplied by one
hundred two percent, with the result rounded to the nearest dollar.  The
tax  savings  attributable to the basic and enhanced exemptions shall be
calculated separately. It shall be the responsibility of the commission-
er to calculate tax savings limitations for purposes  of  this  subdivi-
sion.
  (ii)  The  tax  savings  applicable  to a portion for the two thousand
ten-two thousand eleven school year shall be determined  by  multiplying
the exempt amount applicable to the portion for the two thousand ten-two

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

                                                           LBD01983-02-6

S. 798--A                           2

thousand  eleven  school  year by the tax rate applicable to the portion
for the two thousand ten-two thousand eleven school year, with  separate
calculations for the basic and enhanced exemptions.
  (iii)  Where  a  school tax rate was changed in the midst of the prior
school year, an annualized school  tax  rate  shall  be  used  for  this
purpose. The annualized tax rate for this purpose shall be determined by
calculating  the  average  of  the  tax rates in effect at various times
during the school year, weighted according to the length of time  during
which they were respectively applicable.
  (b)  FOR PURPOSES OF THIS SUBDIVISION, TAX SAVINGS SHALL BE CALCULATED
TO INCLUDE ANY SALES TAX REVENUE  SHARED  BY  A  COUNTY  WITH  A  SCHOOL
DISTRICT.  SUCH  SALES  TAX  REVENUE  SHALL BE ADDED ON A PRO RATA BASIS
EQUAL TO THE PERCENTAGE THAT EACH PARCEL RECEIVING AN  EXEMPTION  IS  TO
THE ENTIRE TAX LEVY, AS AN ADDITIONAL TAX LEVY, PRIOR TO CALCULATING THE
SAVINGS.
  (C) A statement shall then be placed on the tax bill for the parcel in
substantially  the following form: "Your tax savings this year resulting
from the New York state school tax relief (STAR) program is $_______."
  S 2. This act shall take effect immediately and shall  apply  to  real
property  taxes  levied for fiscal years commencing on and after January
first of the fiscal year next succeeding the date on which it shall have
become a law.