Assembly Bill A2111

2019-2020 Legislative Session

Provides for determination of real property eligible for real property tax circuit breaker credit on personal income taxes

download bill text pdf

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Archive: Last Bill Status - In Assembly 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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2019-A2111 (ACTIVE) - Details

Current Committee:
Assembly Aging
Law Section:
Tax Law
Laws Affected:
Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2009-2010: A3857
2011-2012: A4538
2013-2014: A5491
2015-2016: A2395
2017-2018: A1483

2019-A2111 (ACTIVE) - Summary

Changes the value of real estate to qualify for income tax circuit breaker credit from a full value which exceeds $85,000 to a full value which exceeds the median sale price of the county in which the real property is located or $85,000, whichever is greater.

2019-A2111 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2111
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 22, 2019
                                ___________
 
 Introduced  by  M.  of  A.  ENGLEBRIGHT -- read once and referred to the
   Committee on Aging
 
 AN ACT to amend the tax law, in relation to  the  determination  of  the
   value  of  real  estate  for  purposes  of qualifying for the personal
   income tax real property tax circuit breaker credit

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subparagraph  (C)  of  paragraph  7  of subsection (e) of
 section 606 of the tax law, as amended by chapter  28  of  the  laws  of
 1987, is amended to read as follows:
   (C)  To  a  property  owner  who owns real property, the full value of
 which exceeds eighty-five thousand dollars OR THE MEDIAN SALES PRICE  OF
 REAL  PROPERTY  IN  THE  COUNTY  IN  WHICH THE REAL PROPERTY IS LOCATED,
 WHICHEVER IS GREATER, AS DETERMINED BY THE COMMISSIONER.
   § 2. This act shall take effect immediately and shall apply to taxable
 years commencing on or after January 1, 2019.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05080-01-9

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