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Assembly Bill A9575A

2017-2018 Legislative Session

Relates to the term "income" for purposes of the school tax relief exemption

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

co-Sponsors

2017-A9575 - Details

See Senate Version of this Bill:
S2568
Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §425, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: S7472
2015-2016: S4595
2019-2020: A4087, S270
2021-2022: A9396, S2570
2023-2024: A1257, S3053
2025-2026: A4979, S3082

2017-A9575 - Summary

Relates to the term "income" for purposes of the school tax relief exemption.

2017-A9575 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9575
 
                           I N  A S S E M B L Y
 
                             January 23, 2018
                                ___________
 
 Introduced  by  M.  of  A.  ENGLEBRIGHT -- read once and referred to the
   Committee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to  "income"  for
   purposes of eligibility for the enhanced school tax relief exemption
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subparagraph (ii) of paragraph  (b)  of  subdivision  4  of
 section  425  of  the  real property tax law, as amended by section 3 of
 part E of chapter 83 of the laws of 2002, is amended to read as follows:
   (ii) The term "income" as used herein shall mean the  "adjusted  gross
 income"  for  federal income tax purposes as reported on the applicant's
 federal or state income tax return for the applicable income  tax  year,
 subject  to  any subsequent amendments or revisions, reduced by distrib-
 utions, to  the  extent  included  in  federal  adjusted  gross  income,
 received  from  an  individual  retirement  account [and], an individual
 retirement annuity, AND AN ACCOUNT ESTABLISHED UNDER SECTION  401(K)  OR
 403(B)  OF  THE  UNITED STATES INTERNAL REVENUE CODE OF 1986 AS AMENDED;
 provided that if no such return was filed for the applicable income  tax
 year, "income" shall mean the adjusted gross income that would have been
 so reported if such a return had been filed.
   §  2. This act shall take effect on the first of January next succeed-
 ing the date on which it shall have become a law.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08229-02-8

co-Sponsors

2017-A9575A (ACTIVE) - Details

See Senate Version of this Bill:
S2568
Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §425, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: S7472
2015-2016: S4595
2019-2020: A4087, S270
2021-2022: A9396, S2570
2023-2024: A1257, S3053
2025-2026: A4979, S3082

2017-A9575A (ACTIVE) - Summary

Relates to the term "income" for purposes of the school tax relief exemption.

2017-A9575A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9575--A
 
                           I N  A S S E M B L Y
 
                             January 23, 2018
                                ___________
 
 Introduced by M. of A. ENGLEBRIGHT, MORELLE -- read once and referred to
   the  Committee on Real Property Taxation -- 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 the term
   "income" for purposes of the school tax relief exemption

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subparagraph  (ii)  of  paragraph (b) of subdivision 4 of
 section 425 of the real property tax law, as amended  by  section  3  of
 part E of chapter 83 of the laws of 2002, is amended to read as follows:
   (ii)  The  term "income" as used herein shall mean the "adjusted gross
 income" for federal income tax purposes as reported on  the  applicant's
 federal  or  state income tax return for the applicable income tax year,
 subject to any subsequent amendments or revisions, reduced  by  distrib-
 utions,  to  the  extent  included  in  federal  adjusted  gross income,
 received from an individual  retirement  account  [and],  an  individual
 retirement  annuity,  A  DISTRIBUTION  FROM AN ACCOUNT ESTABLISHED UNDER
 SECTION 401(K) OR 403(B) OF THE UNITED STATES INTERNAL REVENUE  CODE  OF
 1986 AS AMENDED, OR A SIMPLIFIED EMPLOYEE PENSION PLAN (SEP) ESTABLISHED
 PURSUANT  TO THE UNITED STATES INTERNAL REVENUE CODE OF 1986 AS AMENDED;
 provided that if no such return was filed for the applicable income  tax
 year, "income" shall mean the adjusted gross income that would have been
 so reported if such a return had been filed.
   §  2. This act shall take effect on the first of January next succeed-
 ing the date on which it shall have become a law.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08229-03-8

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