S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5665
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 14, 2019
                                ___________
 
 Introduced  by  M.  of  A.  ENGLEBRIGHT,  SCHIMMINGER  --  read once and
   referred to the Committee on Ways and Means
 
 AN ACT to amend the tax law, in  relation  to  increasing  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.  Paragraph 2 and the paragraph heading of  paragraph  3  of
 subsection  (e)  of section 606 of the tax law, as amended by chapter 28
 of the laws of 1987, are amended to read as follows:
   (2) A qualified taxpayer shall be allowed  a  credit  as  provided  in
 paragraph three hereof FOR TAXABLE YEARS BEGINNING BEFORE JANUARY FIRST,
 TWO  THOUSAND  TWENTY  AND  IN  PARAGRAPH THREE-A OF THIS SUBSECTION FOR
 TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST, TWO  THOUSAND  TWENTY
 against the taxes imposed by this article reduced by the credits permit-
 ted  by  this  article.  If the credit exceeds the tax as so reduced for
 such year under this article the qualified taxpayer may receive, and the
 comptroller, subject to a certificate  of  the  [state  tax  commission]
 COMMISSIONER,  shall pay as an overpayment, without interest, any excess
 between such tax as so reduced and the amount of the credit. If a quali-
 fied taxpayer is not required to file a return pursuant to  section  six
 hundred fifty-one OF THIS ARTICLE, a qualified taxpayer may nevertheless
 receive  and the comptroller, subject to a certificate of the [state tax
 commission] COMMISSIONER, shall pay as an overpayment the full amount of
 the credit, without interest.
   Determination of credit FOR TAXABLE  YEARS  BEGINNING  BEFORE  JANUARY
 FIRST, TWO THOUSAND TWENTY.
   § 2. Subsection (e) of section 606 of the tax law is amended by adding
 a new paragraph 3-a to read as follows:
   (3-A)  DETERMINATION OF CREDIT FOR TAXABLE YEARS BEGINNING ON OR AFTER
 JANUARY FIRST, TWO THOUSAND TWENTY.   (A) FOR  QUALIFIED  TAXPAYERS  WHO
 HAVE  ATTAINED    THE AGE OF SIXTY-FIVE YEARS BEFORE THE BEGINNING OF OR
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD09514-01-9

 A. 5665                             2
 
 DURING THE TAXABLE YEAR THE AMOUNT OF THE CREDIT  ALLOWABLE  UNDER  THIS
 SUBSECTION SHALL BE FIFTY PERCENT, OR IN THE CASE OF A QUALIFIED TAXPAY-
 ER  WHO HAS ELECTED TO INCLUDE AN ADDITIONAL AMOUNT PURSUANT TO SUBPARA-
 GRAPH  (E)  OF PARAGRAPH ONE OF THIS SUBSECTION, TWENTY-FIVE PERCENT, OF
 THE EXCESS OF REAL PROPERTY TAXES OR THE EXCESS  OF  REAL  PROPERTY  TAX
 EQUIVALENT DETERMINED AS FOLLOWS:
                                   EXCESS REAL PROPERTY TAXES ARE THE
                                   EXCESS OF REAL PROPERTY TAX EQUIVALENT
                                   OR THE EXCESS OF QUALIFYING REAL
    IF HOUSEHOLD GROSS INCOME      PROPERTY TAXES OVER THE FOLLOWING
    FOR THE TAXABLE YEAR IS:       BASE AMOUNT:

    $5,000 OR LESS                                  $  0
    OVER $5,000 BUT NOT OVER $9,000                 $100
    OVER $9,000 BUT NOT OVER $13,000                $270
    OVER $13,000 BUT NOT OVER $17,000               $520
    OVER $17,000 BUT NOT OVER $21,000               $850
    OVER $21,000 BUT NOT OVER $25,000              $1260
   NOTWITHSTANDING  THE  FOREGOING  PROVISIONS, THE MAXIMUM CREDIT DETER-
 MINED UNDER THIS SUBPARAGRAPH MAY NOT EXCEED THE  AMOUNT  DETERMINED  IN
 ACCORDANCE WITH THE FOLLOWING TABLE:
    IF HOUSEHOLD GROSS INCOME
    FOR THE TAXABLE YEAR IS:               THE MAXIMUM CREDIT IS:
 
    $5,000 OR LESS                                 $650
    OVER $5,000 BUT NOT OVER $9,000                $550
    OVER $9,000 BUT NOT OVER $13,000               $450
    OVER $13,000 BUT NOT OVER $17,000              $350
    OVER $17,000 BUT NOT OVER $21,000              $250
    OVER $21,000 BUT NOT OVER $25,000              $150
   (B)  FOR ALL OTHER QUALIFIED TAXPAYERS THE AMOUNT OF THE CREDIT ALLOW-
 ABLE UNDER THIS SUBSECTION SHALL BE FIFTY PERCENT OF EXCESS REAL PROPER-
 TY TAXES OR THE EXCESS OF THE REAL PROPERTY TAX EQUIVALENT DETERMINED AS
 FOLLOWS:
                                   EXCESS REAL PROPERTY TAXES ARE
                                   THE EXCESS OF REAL PROPERTY TAX
     IF HOUSEHOLD GROSS            EQUIVALENT OR THE EXCESS OF
     INCOME FOR THE                QUALIFYING REAL PROPERTY TAXES OVER
     TAXABLE YEAR IS:              THE FOLLOWING BASE AMOUNT:
 
     $5,000 OR LESS                                 $  0
     OVER $5,000 BUT NOT OVER $9,000                $100
     OVER $9,000 BUT NOT OVER $13,000               $270
     OVER $13,000 BUT NOT OVER $17,000              $520
     OVER $17,000 BUT NOT OVER $21,000              $850
     OVER $21,000 BUT NOT OVER $25,000             $1260
   NOTWITHSTANDING THE FOREGOING PROVISIONS, THE  MAXIMUM  CREDIT  DETER-
 MINED  UNDER  THIS  SUBPARAGRAPH MAY NOT EXCEED THE AMOUNT DETERMINED IN
 ACCORDANCE WITH THE FOLLOWING TABLE:
    IF HOUSEHOLD GROSS INCOME
    FOR THE TAXABLE YEAR IS:               THE MAXIMUM CREDIT IS:
 
    $5,000 OR LESS                                 $260
    OVER $5,000 BUT NOT OVER $9,000                $225
    OVER $9,000 BUT NOT OVER $13,000               $180
    OVER $13,000 BUT NOT OVER $17,000              $145

 A. 5665                             3

    OVER $17,000 BUT NOT OVER $21,000              $110
    OVER $21,000 BUT NOT OVER $25,000              $ 75
   §  3.  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:
   (7)  No credit shall be granted under this subsection:
   (A)  If household gross income for the taxable year exceeds [eighteen]
 TWENTY-FIVE thousand dollars.
   (B) To a property owner unless:  (i) the property is used for residen-
 tial purposes, (ii) not more than twenty percent of the  rental  income,
 if any, from the property is from rental for nonresidential purposes and
 (iii) the property is occupied as a residence in whole or in part by one
 or more of the owners of the property.
   (C)  To  a  property owner who owns real property, the [full] value of
 which exceeds: (I) eighty-five thousand dollars; OR (II) AN AMOUNT WHICH
 EQUALS SEVENTY-FIVE PERCENT OF THE AVERAGE HOME VALUE IN THE  COUNTY  OF
 RESIDENCE, WHICHEVER IS MORE.
   (D)  [To  a tenant if the adjusted rent for the residence exceeds four
 hundred fifty dollars per month on average.
   (E)]  To  an  individual  with  respect  to  whom  a  deduction  under
 subsection  (c) of section one hundred fifty-one of the internal revenue
 code is allowable to another taxpayer for the taxable year.
   [(F)] (E) With respect to a residence that  is  wholly  exempted  from
 real property taxation.
   [(G)]  (F)  To  an  individual who is not a resident individual of the
 state for the entire taxable year.
   § 4. Paragraph 13 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:
   (13) THE CREDIT ALLOWED UNDER THIS SUBSECTION SHALL BE MADE  AVAILABLE
 ON  ALL RETURNS PRESCRIBED BY THE COMMISSIONER FOR THE ADMINISTRATION OF
 THE  TAXES  IMPOSED  UNDER  THIS  ARTICLE.  Notwithstanding  any   other
 provision  of  this  article,  the  credit allowed under this subsection
 shall be determined after the determination and application of any other
 credits permitted under the provisions of this article.
   § 5.  This act shall take effect immediately.