|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2020||referred to budget and revenue|
|Feb 04, 2019||referred to budget and revenue|
senate Bill S3157
Current Bill Status - In Senate Committee Budget And Revenue Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3157 (ACTIVE) - Details
S3157 (ACTIVE) - Sponsor Memo
BILL NUMBER: S3157 SPONSOR: LAVALLE TITLE OF BILL: An act to amend the tax law, in relation to the real property tax circuit breaker credit PURPOSE: To increase income limitations and tax credits for real property tax circuit breaker credit and provide circuit breaker legislation to include disabled citizens with persons 65 years of age. SUMMARY OF PROVISIONS: This legislation would increase household gross income to $36,000; increase property value limitation to the median full value of residen- tial real property sales within the county where it is located or the median full value of residential real property in the State, whichever is less, and increase the monthly rent limitation to $800. It would
S3157 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 3157 A. 4449 2019-2020 Regular Sessions S E N A T E - A S S E M B L Y February 4, 2019 ___________ IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print- ed, and when printed to be committed to the Committee on Budget and Revenue IN ASSEMBLY -- Introduced by M. of A. THIELE -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to the 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. Subsection (e) of section 606 of the tax law, as amended by chapter 28 of the laws of 1987, subparagraph (B) of paragraph 1 as amended by section 6 of part I of chapter 59 of the laws of 2015, subparagraph (c) of paragraph 1 as amended by chapter 713 of the laws of 1996, subparagraph (E) of paragraph 1 as amended by chapter 105 of the laws of 2006, and paragraph 14 as amended by chapter 23 of the laws of 1990, is amended to read as follows: (e) Real property tax circuit breaker credit. (1) For purposes of this subsection: (A) "Qualified taxpayer" means a resident individual of the state who has occupied the same residence for six months or more of the taxable year, and is required or chooses to file a return under this article. (B) "Household" or "members of the household" means a qualified taxpayer and all other persons, not necessarily related, who have the same residence and share its furnishings, facilities and accommodations. Such terms shall not include a tenant, subtenant, roomer or boarder who is not related to the qualified taxpayer in any degree specified in [subparagraphs (A)] PARAGRAPHS ONE through [(G)] EIGHT of [paragraph two of] subsection [(d)] (A) of section one hundred fifty-two of the inter- nal revenue code. Provided, however, no person may be a member of more than one household at one time. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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