Senate Bill S772

2017-2018 Legislative Session

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

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Sponsored By

Archive: Last Bill Status - In Senate Committee Aging 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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Bill Amendments

co-Sponsors

2017-S772 - Details

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
2019-2020: S5557
2021-2022: S3085

2017-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.

2017-S772 - Sponsor Memo

2017-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.
              

co-Sponsors

2017-S772A (ACTIVE) - Details

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
2019-2020: S5557
2021-2022: S3085

2017-S772A (ACTIVE) - 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.

2017-S772A (ACTIVE) - Sponsor Memo

2017-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.
              

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