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.
              

                                                            LBD03164-01-9

 S. 3157                             2                            A. 4449
 
   [(c)]  (C) "Household gross income" means the aggregate adjusted gross
 income of all members of the household for the taxable year as  reported
 for  federal income tax purposes, or which would be reported as adjusted
 gross income if a federal income tax return were required to  be  filed,
 with  the  modifications in subsection (b) of section six hundred twelve
 but without the modifications in subsection (c) of  such  section,  plus
 any  portion of the gain from the sale or exchange of property otherwise
 excluded from such amount; earned income from sources without the United
 States excludable from federal gross  income  by  section  nine  hundred
 eleven  of  the  internal  revenue  code;  support money not included in
 adjusted gross income; nontaxable strike benefits; supplemental security
 income payments; the gross amount of any pension or annuity benefits  to
 the  extent  not  included in such adjusted gross income (including, but
 not limited to, railroad retirement benefits and all  payments  received
 under   the   federal  social  security  act  and  veterans'  disability
 pensions); nontaxable interest received from the state of New York,  its
 agencies,  instrumentalities, public corporations, or political subdivi-
 sions (including a public corporation created pursuant to  agreement  or
 compact  with another state or Canada); workers' compensation; the gross
 amount of "loss-of-time"  insurance;  and  the  amount  of  cash  public
 assistance and relief, other than medical assistance for the needy, paid
 to or for the benefit of the qualified taxpayer or members of his house-
 hold.    Household gross income shall not include surplus foods or other
 relief in kind or payments made to individuals because of  their  status
 as  victims  of  Nazi persecution as defined in P.L. 103-286.  Provided,
 further, household gross income  shall  only  include  all  such  income
 received  by  all  members of the household while members of such house-
 hold.
   (D)  "Residence" means a dwelling in  this  state,  whether  owned  or
 rented,  and so much of the land abutting it, not exceeding one acre, as
 is reasonably necessary for use of the  dwelling  as  a  home,  and  may
 consist  of a part of a multi-dwelling or multi-purpose building includ-
 ing a cooperative or condominium,  and  rental  units  within  a  single
 dwelling.  Residence includes a trailer or mobile home, used exclusively
 for  residential purposes and defined as real property pursuant to para-
 graph (g) of subdivision twelve of section one hundred two of  the  real
 property tax law.
   (E)  "Qualifying  real  property taxes" means all real property taxes,
 special ad valorem levies and special assessments, exclusive  of  penal-
 ties  and  interest, levied on the residence of a qualified taxpayer and
 paid during the taxable year less the credit claimed  under  THE  FORMER
 subsection  (n-1) of this section. In addition, for taxable years begin-
 ning after December thirty-first, nineteen hundred eighty-four, a quali-
 fied taxpayer may elect to include any additional amount that would have
 been levied in the absence of an exemption from real  property  taxation
 pursuant  to  section  four hundred sixty-seven of the real property tax
 law. If tenant-stockholders in a cooperative  housing  corporation  have
 met  the  requirements  of  section  two hundred sixteen of the internal
 revenue code by which they are  allowed  a  deduction  for  real  estate
 taxes,  the amount of taxes so allowable, or which would be allowable if
 the taxpayer had filed returns on a cash basis, shall be qualifying real
 property taxes. If a residence is owned by two or  more  individuals  as
 joint  tenants or tenants in common, and one or more than one individual
 is not a member of the household, qualifying real property taxes is that
 part of such  taxes  on  the  residence  which  reflects  the  ownership
 percentage  of the qualified taxpayer and members of his household. If a

 S. 3157                             3                            A. 4449
 
 residence is an integral part of a larger unit, qualifying real property
 taxes shall be limited to that amount of  such  taxes  paid  as  may  be
 reasonably  apportioned to such residence. If a household owns and occu-
 pies two or more residences during different periods in the same taxable
 year,  qualifying  real  property taxes shall be the sum of the prorated
 qualifying real property taxes attributable to the household during  the
 periods  such  household occupies each of such residences. If the house-
 hold owns and occupies a residence for part  of  the  taxable  year  and
 rents a residence for part of the same taxable year, it may include both
 the  proration  of qualifying real property taxes on the residence owned
 and the real property tax equivalent with  respect  to  the  months  the
 residence  is  rented.  Provided,  however,  for  purposes of the credit
 allowed under this subsection, qualifying real  property  taxes  may  be
 included  by  a qualified taxpayer only to the extent that such taxpayer
 or the spouse of such taxpayer occupying such residence for  six  months
 or  more  of  the  taxable year owns or has owned the residence and paid
 such taxes.
   (F) "Real property tax equivalent" means twenty-five  percent  of  the
 adjusted  rent  actually  paid in the taxable year by a household solely
 for the right of occupancy of its New York  residence  for  the  taxable
 year.  If (i) a residence is rented to two or more individuals as coten-
 ants,  or such individuals share in the payment of a single rent for the
 right of occupancy of such residence, and (ii) each of such  individuals
 is  a  member of a different household, one or more of which individuals
 shares such residence, real property tax equivalent is that  portion  of
 twenty-five  percent of the adjusted rent paid in the taxable year which
 reflects that portion of the rent attributable to the qualified taxpayer
 and the members of his household.
   (G) "Adjusted rent" means rental paid for the right of occupancy of  a
 residence, excluding charges for heat, gas, electricity, furnishings and
 board.    Where  charges for heat, gas, electricity, furnishing or board
 are included in rental but where such charges and the amount thereof are
 not separately set forth in a written rental agreement, for purposes  of
 determining  adjusted  rent  the  qualified taxpayer shall reduce rental
 paid as follows:
   (i)  For heat, or heat and gas, deduct fifteen percent of rental paid.
   (ii)  For heat, gas and electricity, deduct twenty percent  of  rental
 paid.
   (iii)   For heat, gas, electricity and furnishings, deduct twenty-five
 percent of rental paid.
   (iv)  For heat, gas, electricity, furnishings and board, deduct  fifty
 percent of rental paid.
 If  the  [tax commission] COMMISSIONER determines that the adjusted rent
 shown on the return is excessive, the [tax commission] COMMISSIONER  may
 reduce  such  rent, for purposes of the computation of the credit, to an
 amount substantially equivalent to rent for a comparable accommodation.
   (2) A qualified taxpayer shall be allowed  a  credit  as  provided  in
 paragraph three hereof against the taxes imposed by this article reduced
 by the credits permitted 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 qualified 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

 S. 3157                             4                            A. 4449
 
 certificate  of the [state tax commission] COMMISSIONER, shall pay as an
 overpayment the full amount of the credit, without interest.
   (3)    Determination of credit.   (A) For qualified taxpayers who have
 attained the age of sixty-five years OR A PERMANENT AND TOTAL DISABILITY
 AS DEFINED IN SECTION TWENTY-TWO OF THE INTERNAL REVENUE CODE before the
 beginning of or during the taxable year the amount of the credit  allow-
 able  under  this subsection shall be fifty percent, or in the case of a
 qualified taxpayer who has  elected  to  include  an  additional  amount
 pursuant  to subparagraph (E) of paragraph one of this subsection, twen-
 ty-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
      If household gross                 qualifying real property taxes
      income for the                     over the following percentage of
      taxable year is:                   household gross income:
      ___________________                __________________________________
 
      [$3,000] $6,000 or less             3 1/2
      Over [$3,000] $6,000 but not
         over [$5,000] $10,000            4
      Over [$5,000] $10,000 but not
         over [$7,000] $14,000            4 1/2
      Over [$7,000] $14,000 but not
         over [$9,000] $18,000            5
      Over [$9,000] $18,000 but not
         over [$11,000] $22,000           5 1/2
      Over [$11,000] $22,000 but not
         over [$14,000] $28,000           6
      Over [$14,000] $28,000 but not
         over [$18,000] $36,000           6 1/2
   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                 The maximum
      income for the                     credit is:
      taxable year is:
      ___________________                __________________________________
      [$1,000] $2,000 or less            [$375] $463
      Over [$1,000] $2,000 but
         not over [$2,000] $4,000        [$358] $442
      Over [$2,000] $4,000 but
         not over [$3,000] $6,000        [$341] $421
      Over [$3,000] $6,000 but
         not over [$4,000] $8,000        [$324] $400
      Over [$4,000] $8,000 but
         not over [$5,000] $10,000       [$307] $379
      Over [$5,000] $10,000 but
         not over [$6,000] $12,000       [$290] $358
      Over [$6,000] $12,000 but
         not over [$7,000] $14,000       [$273] $337
      Over [$7,000] $14,000 but
         not over [$8,000] $16,000       [$256] $316
      Over [$8,000] $16,000 but

 S. 3157                             5                            A. 4449
 
         not over [$9,000] $18,000       [$239] $295
      Over [$9,000] $18,000 but
         not over [$10,000] $20,000      [$222] $274
      Over [$10,000] $20,000 but
         not over [$11,000] $22,000      [$205] $253
      Over [$11,000] $22,000 but
         not over [$12,000] $24,000      [$188] $232
      Over [$12,000] $24,000 but
         not over [$13,000] $26,000      [$171] $211
      Over [$13,000] $26,000 but
         not over [$14,000] $28,000      [$154] $190
      Over [$14,000] $28,000 but
         not over [$15,000] $30,000      [$137] $169
      Over [$15,000] $30,000 but
         not over [$16,000] $32,000      [$120] $148
      Over [$16,000] $32,000 but
         not over [$17,000] $34,000      [$103] $127
      Over [$17,000] $34,000 but
         not over [$18,000] $36,000      [$86] $106
   (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
                                         equivalent or the excess of
      If household gross                 qualifying real property taxes
      income for the                     over the following percentage of
      taxable year is:                   household gross income:
      ___________________                __________________________________
 
      [$3,000] $6,000 or less            3 1/2
      Over [$3,000] $6,000 but not
         over [$5,000] $10,000           4
      Over [$5,000] $10,000 but not
         over [$7,000] $14,000           4 1/2
      Over [$7,000] $14,000 but not
         over [$9,000] $18,000           5
      Over [$9,000] $18,000 but not
         over [$11,000] $22,000          5 1/2
      Over [$11,000] $22,000 but not
         over [$14,000] $28,000          6
      Over [$14,000] $28,000 but not
         over [$18,000] $36,000          6 1/2
   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                 The maximum
      income for the                     credit is:
      taxable year is:
      ___________________                __________________________________
      [$1,000] $2,000 or less            [$75] $163
      Over [$1,000] $2,000 but
         not over [$2,000] $4,000        [$73] $158
      Over [$2,000] $4,000 but
         not over [$3,000] $6,000        [$71] $154

 S. 3157                             6                            A. 4449
 
      Over [$3,000] $6,000 but
         not over [$4,000] $8,000        [$69] $149
      Over [$4,000] $8,000 but
         not over [$5,000] $10,000       [$67] $145
      Over [$5,000] $10,000 but
         not over [$6,000] $12,000       [$65] $140
      Over [$6,000] $12,000 but
         not over [$7,000] $14,000       [$63] $136
      Over [$7,000] $14,000 but
         not over [$8,000] $16,000       [$61] $132
      Over [$8,000] $16,000 but
         not over [$9,000] $18,000       [$59] $128
      Over [$9,000] $18,000 but
         not over [$10,000] $20,000      [$57] $123
      Over [$10,000] $20,000 but
         not over [$11,000] $22,000      [$55] $119
      Over [$11,000] $22,000 but
         not over [$12,000] $24,000      [$53] $115
      Over [$12,000] $24,000 but
         not over [$13,000] $26,000      [$51] $110
      Over [$13,000] $26,000 but
         not over [$14,000] $28,000      [$49] $106
      Over [$14,000] $28,000 but
         not over [$15,000] $30,000      [$47] $102
      Over [$15,000] $30,000 but
         not over [$16,000] $32,000      [$45] $97
      Over [$16,000] $32,000 but
         not over [$17,000] $34,000      [$43] $93
      Over [$17,000] $34,000 but
         not over [$18,000] $36,000      [$41] $89
   (4)  If a qualified taxpayer occupies a residence for a period of less
 than twelve months during the taxable year or occupies two or more resi-
 dences during different periods in such taxable year, the credit allowed
 pursuant to this subsection shall be computed in such manner as the [tax
 commission] COMMISSIONER may, by regulation, prescribe in order to prop-
 erly reflect the credit or portion thereof attributable  to  such  resi-
 dence or residences and such period or periods.
   (5)    The [tax commission] COMMISSIONER may prescribe that the credit
 under this subsection shall be determined in whole or in part by the use
 of tables prescribed by such [commission]  COMMISSIONER.    Such  tables
 shall set forth the credit to the nearest dollar.
   (6)  Only one credit per household and per qualified taxpayer shall be
 allowed  per  taxable  year  under  this  subsection.   When two or more
 members of a household are able to meet the qualifications for a  quali-
 fied taxpayer, the credit shall be equally divided between or among such
 individuals  unless  such  individuals  file  with  the [tax commission]
 COMMISSIONER a written agreement among such individuals setting forth  a
 different  division.   Where two or more members of a household are able
 to meet the qualifications of a qualified taxpayer and one  of  them  is
 sixty-five years of age or more OR HAS A PERMANENT AND TOTAL DISABILITY,
 the credit which may be taken shall be the credit applicable to individ-
 uals who have attained the age of sixty-five years.
   (A)  Provided, however, where a joint income tax return has been filed
 pursuant to the provisions of section  six  hundred  fifty-one  OF  THIS
 ARTICLE  by  a  qualified  taxpayer and his OR HER spouse (or where both
 spouses are qualified taxpayers and have filed such joint  return),  the

 S. 3157                             7                            A. 4449
 
 credit,  or  the  portion of the credit if divided, to which the husband
 and wife are entitled shall be applied against the tax of  both  spouses
 and any overpayment shall be made to both spouses.
   (B)  Where  any return required to be filed pursuant to the provisions
 of section six hundred fifty-one OF THIS ARTICLE is  combined  with  any
 return  of  tax imposed pursuant to the authority of this chapter or any
 other law if such tax is administered by the  [tax  commission]  COMMIS-
 SIONER,  the  credit or the portion of the credit if divided, allowed to
 the qualified taxpayer may be applied by the  [tax  commission]  COMMIS-
 SIONER toward any liability for the aforementioned taxes.
   (7)  No credit shall be granted under this subsection:
   (A)  If household gross income for the taxable year exceeds [eighteen]
 THIRTY-SIX 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 FOR OVER TWO YEARS, the
 full  value  of  which exceeds [eighty-five thousand dollars] THE MEDIAN
 FULL VALUE OF RESIDENTIAL REAL PROPERTY SALES WITHIN THE COUNTY WHERE IT
 IS LOCATED, AS DETERMINED BY THE STATE BOARD OF REAL PROPERTY  SERVICES,
 OR  THE  MEDIAN FULL VALUE OF RESIDENTIAL REAL PROPERTY IN THE STATE, AS
 DETERMINED BY THE STATE BOARD OF REAL PROPERTY  SERVICES,  WHICHEVER  IS
 LESS.
   (D)  To a tenant if the adjusted rent for the residence exceeds [four]
 EIGHT 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)  With  respect  to  a  residence that is wholly exempted from real
 property taxation.
   (G) To an individual who is not a resident individual of the state for
 the entire taxable year.
   (H) WHERE A HOUSEHOLD OR QUALIFIED  TAXPAYER  HAS  CLAIMED  AN  EARNED
 INCOME TAX CREDIT PURSUANT TO THIS SECTION.
   (I)  TO AN INDIVIDUAL WHOSE HOUSEHOLD GROSS INCOME IS MORE THAN EIGHTY
 PERCENT OF THE STATE MEDIAN FAMILY INCOME.
   (8)  The right to claim a credit or the portion  of  a  credit,  where
 such credit has been divided under this subsection, shall be personal to
 the  qualified taxpayer and shall not survive his OR HER death, but such
 right may be exercised on behalf of a claimant by his OR HER legal guar-
 dian or attorney in fact during his OR HER lifetime.
   (9)  Returns. If a qualified taxpayer is not required to file a return
 pursuant to section six hundred fifty-one OF THIS ARTICLE, a claim for a
 credit may be taken on a return filed with the [tax commission]  COMMIS-
 SIONER within three years from the time it would have been required that
 a  return  be  filed pursuant to such section had the qualified taxpayer
 had a taxable year ending on December thirty-first. Returns  under  this
 paragraph  shall  be  in  such  form  as shall be prescribed by the [tax
 commission] COMMISSIONER, which shall  make  available  such  forms  and
 instructions for filing such returns.
   (10)  Proof of claim.  The [tax commission] COMMISSIONER may require a
 qualified taxpayer to furnish the following information  in  support  of
 his  claim  for  credit under this subsection:   household gross income,
 rent paid, name and address of owner or managing agent of  the  property

 S. 3157                             8                            A. 4449
 
 rented, real property taxes levied or that would have been levied in the
 absence  of an exemption from real property tax pursuant to section four
 hundred sixty-seven of the real property tax law, the names  of  members
 of the household and other qualifying taxpayers occupying the same resi-
 dence  and  their identifying numbers including social security numbers,
 household gross income, size and nature of property claimed as residence
 and all other information which may be required by the [tax  commission]
 COMMISSIONER to determine the credit.
   (11)   Administration.   The provisions of this article, including the
 provisions of section six hundred fifty-three, six hundred  fifty-eight,
 and  six hundred fifty-nine and the provisions of part six of this arti-
 cle relating to procedure and  administration,  including  the  judicial
 review  of the decisions of the [tax commission] COMMISSIONER, except so
 much of section six hundred eighty-seven OF THIS ARTICLE which permits a
 claim for credit or refund to be filed after the period provided for  in
 paragraph  nine  of  this  subsection  and  except  sections six hundred
 fifty-seven, six hundred eighty-eight and six hundred ninety-six OF THIS
 ARTICLE, shall apply to the provisions of this subsection  in  the  same
 manner  and  with  the same force and effect as if the language of those
 provisions had been incorporated in full into this  subsection  and  had
 expressly  referred  to  the  credit allowed or returns filed under this
 subsection, except to the extent  that  any  such  provision  is  either
 inconsistent  with  a provision of this subsection or is not relevant to
 this subsection.   As used in such sections  and  such  part,  the  term
 "taxpayer" shall include a qualified taxpayer under this subsection and,
 notwithstanding  the provisions of subsection (e) of section six hundred
 ninety-seven OF THIS ARTICLE, where a qualified taxpayer  has  protested
 the  denial  of a claim for credit under this subsection and the time to
 file a petition for redetermination of a deficiency or  for  refund  has
 not  expired,  he OR SHE shall, subject to such conditions as may be set
 by the [tax commission] COMMISSIONER, receive such information (A) which
 is contained in any return filed under this article by a member  of  his
 OR  HER  household for the taxable year for which the credit is claimed,
 and (B) which the [tax commission] COMMISSIONER finds  is  relevant  and
 material  to  the  issue of whether such claim was properly denied.  The
 [tax commission] COMMISSIONER shall have  the  authority  to  promulgate
 such  rules  and  regulations  as  may  be necessary for the processing,
 determination and granting of credits and refunds under this subsection.
   (13)  Notwithstanding any other provision of this article, the  credit
 allowed  under  this  subsection  shall be determined after the determi-
 nation  and  application  of  any  other  credits  permitted  under  the
 provisions of this article.
   (14)  The  commissioner  [of  taxation  and  finance]  shall prepare a
 preliminary written report after July thirty-first and a  final  written
 report  after  December  thirty-first of each calendar year, which shall
 contain statistical information regarding  the  credits  granted  on  or
 before  such  dates  under  this  subsection  during such calendar year.
 Copies of these reports shall be submitted by such commissioner  to  the
 governor,  the  temporary  president  of  the senate, the speaker of the
 assembly, the chairman of the senate finance committee and the  chairman
 of the assembly ways and means committee within sixty days of July thir-
 ty-first  with  respect to the preliminary report, and within forty-five
 days of December thirty-first with respect to  the  final  report.  Such
 reports shall contain, but need not be limited to, the number of credits
 and the average amount of such credits allowed; and of those, the number
 of  credits  and the average amount of such credits allowed to qualified

 S. 3157                             9                            A. 4449
 
 taxpayers in each county; and of those, the number of  credits  and  the
 average  amount  of  such  credits  allowed to qualified taxpayers whose
 household gross income falls within each of the household  gross  income
 ranges  set  forth  in paragraph three of this subsection; and of those,
 the number of credits and the average amount of such credits allowed  to
 qualified taxpayers whose credit amount falls within credit amount rang-
 es set forth in twenty-five dollar increments.
   §  2.  Paragraph 3 of subsection (e) of section 606 of the tax law, as
 amended by section one of this act, is amended to read as follows:
   (3)  Determination of credit.  (A) For qualified  taxpayers  who  have
 attained the age of sixty-five years or a permanent and total disability
 as defined in section twenty-two of the internal revenue code before the
 beginning  of or during the taxable year the amount of the credit allow-
 able under this subsection shall be fifty percent, or in the case  of  a
 qualified  taxpayer  who  has  elected  to  include an additional amount
 pursuant to subparagraph (E) of paragraph one of this subsection,  twen-
 ty-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
      If household gross                 qualifying real property taxes
      income for the                     over the following percentage of
      taxable year is:                   household gross income:
      ___________________                __________________________________
 
      $6,000 or less                     3 1/2
      Over $6,000 but not
         over $10,000                    4
      Over $10,000 but not
         over $14,000                    4 1/2
      Over $14,000 but not
         over $18,000                    5
      Over $18,000 but not
         over $22,000                    5 1/2
      Over $22,000 but not
         over $28,000                    6
      Over $28,000 but not
         over $36,000                    6 1/2
   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                 The maximum
      income for the                     credit is:
      taxable year is:
      ___________________                __________________________________
      $2,000 or less                     [$463] $550
      Over $2,000 but
         not over $4,000                 [$442] $525
      Over $4,000 but
         not over $6,000                 [$421] $500
      Over $6,000 but
         not over $8,000                 [$400] $475
      Over $8,000 but
         not over $10,000                [$379] $450
      Over $10,000 but

 S. 3157                            10                            A. 4449
 
         not over $12,000                [$358] $425
      Over $12,000 but
         not over $14,000                [$337] $400
      Over $14,000 but
         not over $16,000                [$316] $375
      Over $16,000 but
         not over $18,000                [$295] $350
      Over $18,000 but
         not over $20,000                [$274] $325
      Over $20,000 but
         not over $22,000                [$253] $300
      Over $22,000 but
         not over $24,000                [$232] $275
      Over $24,000 but
         not over $26,000                [$211] $250
      Over $26,000 but
         not over $28,000                [$190] $225
      Over $28,000 but
         not over $30,000                [$169] $200
      Over $30,000 but
         not over $32,000                [$148] $175
      Over $32,000 but
         not over $34,000                [$127] $150
      Over $34,000 but
         not over $36,000                [$106] $125
   (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
                                         equivalent or the excess of
      If household gross                 qualifying real property taxes
      income for the                     over the following percentage of
      taxable year is:                   household gross income:
      ___________________                __________________________________
 
      $6,000 or less                     3 1/2
      Over $6,000 but not
         over $10,000                    4
      Over  $10,000 but not
         over $14,000                    4 1/2
      Over  $14,000 but not
         over  $18,000                   5
      Over $18,000 but not
         over $22,000                    5 1/2
      Over $22,000 but not
         over  $28,000                   6
      Over $28,000 but not
         over $36,000                    6 1/2
   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                 The maximum
      income for the                     credit is:
      taxable year is:

 S. 3157                            11                            A. 4449
 
      ___________________                __________________________________
      $2,000 or less                     [$163] $250
      Over $2,000 but
         not over $4,000                 [$158] $243
      Over $4,000 but
         not over $6,000                 [$154] $237
      Over $6,000 but
         not over $8,000                 [$149] $230
      Over $8,000 but
         not over $10,000                [$145] $223
      Over $10,000 but
         not over $12,000                [$140] $217
      Over $12,000 but
         not over $14,000                [$136] $210
      Over $14,000 but
         not over $16,000                [$132] $203
      Over $16,000 but
         not over $18,000                [$128] $197
      Over $18,000 but
         not over $20,000                [$123] $190
      Over $20,000 but
         not over $22,000                [$119] $183
      Over $22,000 but
         not over $24,000                [$115] $177
      Over $24,000 but
         not over $26,000                [$110] $170
      Over $26,000 but
         not over $28,000                [$106] $163
      Over $28,000 but
         not over $30,000                [$102] $157
      Over $30,000 but
         not over $32,000                [$97] $150
      Over $32,000 but
         not over $34,000                [$93] $143
      Over $34,000 but
         not over $36,000                [$89] $137
   §  3.  This act shall take effect immediately; provided, however, that
 section two of this act shall take effect January 1, 2021.