NY State Senate Bill S772A

Archive: Last Bill Status - In Senate Committee Aging Committee

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

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Actions

view actions (11)

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Apr 16, 2018	print number 772a
Apr 16, 2018	amend and recommit to aging
Jan 03, 2018	referred to aging returned to senate died in assembly
Jun 20, 2017	referred to aging delivered to assembly passed senate ordered to third reading cal.1992 committee discharged and committed to rules
Jan 04, 2017	referred to aging

Votes

Bill Amendments

Original

A (Active)

Original

A (Active)

Co-Sponsors

S772 - Details

See Assembly Version of this Bill:: A10297
Current Committee:: Senate Aging
Law Section:: Real Property Tax Law
Laws Affected:: Amd §§467 & 459-c, RPT L
Versions Introduced in Other Legislative Sessions:: 2015-2016: S7859, A10335
2019-2020: S5557, A3149
2021-2022: S3085, A3956

S772 - Summary

Increases the amount of income property owners may earn for the purpose of eligibility for the property tax exemption for persons sixty-five years of age or over and for persons with disabilities and limited income.

S772 - Sponsor Memo

 BILL NUMBER:  S772

 TITLE OF BILL :

An act to amend the real property tax law, in relation to increasing
the amount of income property owners may earn for the purpose of
eligibility for the property tax exemption for persons sixty-five
years of age or over and for persons with disabilities and limited
income

 PURPOSE OR GENERAL IDEA OF BILL :

The purpose of this bill is to provide certain income-eligible senior
citizens and persons with disabilities and limited income with relief
from the burden of increasing real property taxes.

 SUMMARY OF SPECIFIC PROVISIONS :

Section 1 amends paragraph (a) of subdivision 3 of section 467 of the
Real Property Tax Law to raise the maximum income eligibility for the
senior exemption from $29,000 to $50,000 beginning July 1, 2017.

Section 2 amends paragraph (a) of subdivision 5 of section 459-c of
The Real Property Tax Law, to raise the maximum income eligibility for
real property tax exemption for the disabled from $29,000 to $50,000
beginning July 1, 2017.

Section 3 is the effective date.

 EFFECTS OF PRESENT LAW WHICH THIS BILL WOULD ALTER :

This bill would amend Section 467 of the Real Property Tax Law.

 JUSTIFICATION :

New York State has a growing number of low-income seniors on fixed
incomes and persons with disabilities who have limited income that are
faced with ever increasing property taxes making it difficult for them
to continue to live in and maintain their own homes. To lessen the
burden on them of ever increasing property taxes this bill provides
them with much needed relief by allowing local governments the option
to raise the maximum income eligibility limit for the Senior Citizen
Real Property Tax Exemption program from the current $37,399.99 to
$50,000. The maximum income eligibility for the Senior Citizen Real
Property Tax Exemption has not been raised since 2009 and raising the
Senior Real Property Tax Exemption income eligibility would make it
consistent with SCRIE and DRIE.

This bill would protect some of New York's most vulnerable citizens
from having to give up their homes and move out of their communities.

 PRIOR LEGISLATIVE HISTORY :

Chapter 259 of the Laws of 2009
2016 Passed Senate (S7859 Stewart-Cousins)

 FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS :

None to the State; however, this bill might result in the loss of
revenue for local governments.

 EFFECTIVE DATE :
Immediately

S772 - Bill Text download pdf


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

                                   772

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                             January 4, 2017
                               ___________

Introduced  by  Sen.  STEWART-COUSINS -- 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 increasing the
  amount of income property owners may earn for the purpose of eligibil-
  ity for the property tax exemption for persons sixty-five years of age
  or over and for persons with disabilities and limited income

  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, AND FIFTY THOUSAND DOLLARS  BEGINNING  JULY  FIRST,  TWO  THOUSAND
SEVENTEEN,  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

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

                                                           LBD02764-01-7

S. 772                              2

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
rental  income, salary or earnings, and net income from self-employment,
but shall not include a return of capital, gifts, inheritances, payments
made  to  individuals  because of their status as victims of Nazi perse-
cution, 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 insurance, 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  property  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;
  § 2. Paragraph (a) of subdivision 5 of section 459-c of the real prop-
erty tax law, as separately amended by chapters 187 and 252 of the  laws
of 2006, 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 AND FIFTY THOUSAND  DOLLARS  BEGINNING  JULY  FIRST,  TWO  THOUSAND
SEVENTEEN,  as  may  be  provided by the local law 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 due to divorce, legal separation or
abandonment, 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 rental income, salary or earnings, and net
income  from self-employment, but shall not include a return of capital,
gifts, inheritances 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 insurance, if the governing board of a munici-
pality, after a public hearing, adopts a local law or resolution provid-

S. 772                              3

ing  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;
  § 3. This act shall take effect immediately.

Co-Sponsors

S772A (ACTIVE) - Details

See Assembly Version of this Bill:: A10297
Current Committee:: Senate Aging
Law Section:: Real Property Tax Law
Laws Affected:: Amd §§467 & 459-c, RPT L
Versions Introduced in Other Legislative Sessions:: 2015-2016: S7859, A10335
2019-2020: S5557, A3149
2021-2022: S3085, A3956

S772A (ACTIVE) - Summary

S772A (ACTIVE) - Sponsor Memo

 
BILL NUMBER: S772A             REVISED MEMO 04/16/2018

SPONSOR: STEWART-COUSINS
 
TITLE OF BILL:  An act to amend the real property tax law, in relation
to increasing the amount of income property owners may earn for the
purpose of eligibility for the property tax exemption for persons
sixty-five years of age or over and for persons with disabilities and
limited income

 
PURPOSE OR GENERAL IDEA OF BILL:

The purpose of this bill is to provide certain income-eligible senior
citizens and persons with disabilities and limited income with relief
from the burden of increasing real property taxes.

 
SUMMARY OF PROVISIONS:

Section 1 amends real property tax law section 467 (3)(a)to raise the
maximum income eligibility for seniors to obtain a real property tax
exemption from $29,000 to $50,000 beginning July 1, 2017.

Section 2 amends real property tax law section 459- c (5) (a) , to raise
the maximum income eligibility for the disabled to obtain a real proper-
ty tax exemption from $29,000 to $50,000 beginning July 1, 2017.

Section 3 is the effective date.

 
JUSTIFICATION:

New York State has a growing number of low-income seniors on fixed
incomes and persons with disabilities who have limited income who are
faced with ever increasing property taxes making it difficult for them
to continue to live in and maintain their own homes. To lessen the
burden of ever increasing property taxes this bill provides them with
much needed relief by allowing local governments the option to raise the
maximum income eligibility limit for the Senior Citizen Real Property
Tax Exemption program and the Persons with Disabilities Real Property
Tax Exemption from the current $37,399.99 to $50,000.  The maximum
income eligibility for these exemptions has not been raised since 2009.

This bill would help some of New York's most vulnerable citizens stay in
their homes and remain in their communities.

 
PRIOR LEGISLATIVE HISTORY:

2016: S7859 (Stewart-Cousins) passed the Senate the senate; A10335
referred to Assembly aging
2017: S772 (Stewart-Cousins) passed the Senate.

 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:

None to the State; however, this bill might result in the loss of reven-
ue for local governments.

 
EFFECTIVE DATE:
This act shall take effect immediately.

S772A (ACTIVE) - Bill Text download pdf


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

                                 772--A

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                             January 4, 2017
                               ___________

Introduced  by Sens. STEWART-COUSINS, CARLUCCI -- read twice and ordered
  printed, and when printed to be committed to the Committee on Aging --
  recommitted to the Committee on Aging in accordance with  Senate  Rule
  6,  sec. 8 -- committee discharged, bill amended, ordered reprinted as
  amended and recommitted to said committee

AN ACT to amend the real property tax law, in relation to increasing the
  amount of income property owners may earn for the purpose of eligibil-
  ity for the property tax exemption for persons sixty-five years of age
  or over and for persons with disabilities and limited income

  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 separately amended by chapters 131 and 279  of  the
laws of 2017, 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,
twenty-nine  thousand  dollars  beginning July first, two thousand nine,
FIFTY THOUSAND DOLLARS BEGINNING JULY FIRST, TWO THOUSAND SEVENTEEN, and
in a city with a population  of  one  million  or  more  fifty  thousand
dollars beginning July first, two thousand seventeen, 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

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

                                                           LBD02764-02-7

S. 772--A                           2

from  the  property as provided in subparagraph (ii) of paragraph (d) of
this subdivision, then only the income of the spouse or ex-spouse resid-
ing 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 capi-
tal  asset  in  the  same  income tax year, net rental income, salary or
earnings, and net income from self-employment, but shall not  include  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 insurance, if the  governing  board  of  a  municipality,
after  a  public  hearing,  adopts  a local law, ordinance or resolution
providing therefor. In addition, an exchange of an annuity for an annui-
ty contract, which  resulted  in  non-taxable  gain,  as  determined  in
section  one thousand thirty-five of the internal revenue code, shall be
excluded from such income. Provided that such exclusion shall  be  based
on satisfactory proof that such an exchange was solely an exchange of an
annuity  for an annuity contract that resulted in a non-taxable transfer
determined by such section of the internal  revenue  code.  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  property  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  notwith-
standing,  such  income  shall  not  include veterans disability compen-
sation, 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;
  § 2. Paragraph (a) of subdivision 5 of section 459-c of the real prop-
erty  tax law, as amended by chapter 131 of the laws of 2017, 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,
twenty-nine thousand dollars beginning July first,  two  thousand  nine,
AND FIFTY THOUSAND DOLLARS BEGINNING JULY FIRST, TWO THOUSAND SEVENTEEN,
and  in  a  city with a population of one million or more fifty thousand
dollars beginning July first, two thousand seventeen, as may be provided
by the local law 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 proper-

S. 772--A                           3

ty due to divorce, legal separation or abandonment, 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
rental income, salary or earnings, and net income from  self-employment,
but shall not include a return of capital, gifts, inheritances 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 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;
  § 3. This act shall take effect immediately.

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The New York State Senate

senate Bill S772A

Sponsored By

Archive: Last Bill Status - In Senate Committee Aging Committee

Your Voice

Actions

Votes

Jun 20, 2017 - floor Vote

Floor Vote: Jun 20, 2017

Jun 20, 2017 - Rules committee Vote

Committee Vote: Jun 20, 2017

Bill Amendments

Co-Sponsors

S772 - Details

S772 - Summary

S772 - Sponsor Memo

S772 - Bill Text download pdf

Co-Sponsors

S772A (ACTIVE) - Details

S772A (ACTIVE) - Summary

S772A (ACTIVE) - Sponsor Memo

S772A (ACTIVE) - Bill Text download pdf

Comments

senate Bill S772A

Share this bill

Sponsored By

Andrea Stewart-Cousins

Archive: Last Bill Status - In Senate Committee Aging Committee

Your Voice

Actions

Votes

Jun 20, 2017 - floor Vote

Floor Vote: Jun 20, 2017

Jun 20, 2017 - Rules committee Vote

Committee Vote: Jun 20, 2017

Bill Amendments

Co-Sponsors

David Carlucci

S772 - Details

S772 - Summary

S772 - Sponsor Memo

S772 - Bill Text download pdf

Co-Sponsors

David Carlucci

Shelley B. Mayer

S772A (ACTIVE) - Details

S772A (ACTIVE) - Summary

S772A (ACTIVE) - Sponsor Memo

S772A (ACTIVE) - Bill Text download pdf

Comments