NY State Senate Bill S5557

Archive: Last Bill Status - Passed Senate

Introduced
In Committee
On Floor Calendar
- Passed Senate
- Passed Assembly
Delivered to Governor
Signed/Vetoed by Governor

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Actions

view actions (18)

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 29, 2020	referred to aging delivered to assembly passed senate
Jan 27, 2020	advanced to third reading
Jan 23, 2020	2nd report cal.
Jan 22, 2020	1st report cal.227
Jan 08, 2020	print number 5557a
Jan 08, 2020	amend and recommit to aging referred to aging returned to senate died in assembly
May 21, 2019	referred to aging delivered to assembly passed senate
May 20, 2019	advanced to third reading
May 15, 2019	2nd report cal.
May 14, 2019	1st report cal.745
May 07, 2019	referred to aging

Votes

view votes

Jan 29, 2020 - floor Vote

S5557A

floor

Aye

Nay

Absent

Excused

Abstained

Jan 22, 2020 - Aging committee Vote

S5557A

committee

Aye

Nay

Aye with Reservations

Absent

Excused

Abstained

May 21, 2019 - floor Vote

S5557

floor

Aye

Nay

Absent

Excused

Abstained

May 14, 2019 - Aging committee Vote

S5557

committee

Aye

Nay

Aye with Reservations

Absent

Excused

Abstained

Bill Amendments

Original

A (Active)

Original

A (Active)

Co-Sponsors

S5557 - Details

See Assembly Version of this Bill:: A3149
Current Committee:: Assembly Aging
Law Section:: Real Property Tax Law
Laws Affected:: Amd §§467 & 459-c, RPT L
Versions Introduced in Other Legislative Sessions:: 2015-2016: S7859, A10335
2017-2018: S772, A10297
2021-2022: S3085, A3956

S5557 - 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.

S5557 - Sponsor Memo

 
BILL NUMBER: S5557

SPONSOR: STEWART-COUSINS
 
TITLE OF BILL:  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 eligibility for the property tax exemption for persons
sixty-five years of age or over and for persons with disabilities and
limited income

 
PURPOSE OR GENERAL IDEA OF BILL:

The purpose of this bill is to provide certain income-eligible senior
citizens and persons with disabilities and limited income with relief
from the burden of increasing real property taxes.

 
SUMMARY OF PROVISIONS:

Section 1 amends real property tax law section 467 (3)(a)to raise the
maximum income eligibility for seniors to obtain a real property tax
exemption from $29,000 to $50,000 beginning July 1, 2019.

Section 2 amends real property tax law section 459- c (5) (a) , to raise
the maximum income eligibility for the disabled to obtain a real proper-
ty tax exemption from $29,000 to $50,000 beginning July 1, 2019.

Section 3 is the effective date.

 
JUSTIFICATION:

New York State has a growing number of low-income seniors on fixed
incomes and persons with disabilities who have limited income who are
faced with ever increasing property taxes making it difficult for them
to continue to live in and maintain their own homes. To lessen the
burden of ever increasing property taxes this bill provides them with
much needed relief by allowing local governments the option to raise the
maximum income eligibility limit for the Senior Citizen Real Property
Tax Exemption program and the Persons with Disabilities Real Property
Tax Exemption from the current $37,399.99 to $50,000. The maximum income
eligibility for these exemptions has not been raised since 2009.

This bill would help some of New York's most vulnerable citizens stay in
their homes and remain in their communities.

 
PRIOR LEGISLATIVE HISTORY:

2016: S7859 (Stewart-Cousins) passed the Senate the senate; A10335
referred to Assembly aging
2017: 5772 (Stewart-Cousins) passed the Senate.
2018: 5772 (Stewart-Cousins) Referred to Aging

 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:

None to the State; however, this bill might result in the loss of reven-
ue for local governments.

 
EFFECTIVE DATE:
This act shall take effect immediately.

S5557 - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5557

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                               May 7, 2019
                               ___________

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 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 NINETEEN,  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
from the property as provided in subparagraph (ii) of paragraph  (d)  of
this subdivision, then only the income of the spouse or ex-spouse resid-
ing  on  the  property  shall be considered and may not exceed such sum.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

                                                           LBD05065-01-9

S. 5557                             2

Such income shall  include  social  security  and  retirement  benefits,
interest,  dividends,  total gain from the sale or exchange of a capital
asset which may be offset by a loss from the sale or exchange of a capi-
tal  asset  in  the  same  income tax year, net rental income, salary or
earnings, and net income from self-employment, but shall not  include  a
return  of  capital,  gifts,  inheritances, payments made to individuals
because of their status as victims of Nazi persecution,  as  defined  in
P.L.  103-286  or monies earned through employment in the federal foster
grandparent program and any such income shall be offset by  all  medical
and  prescription  drug expenses actually paid which were not reimbursed
or paid for by insurance, if the  governing  board  of  a  municipality,
after  a  public  hearing,  adopts  a local law, ordinance or resolution
providing therefor. In addition, an exchange of an annuity for an annui-
ty contract, which  resulted  in  non-taxable  gain,  as  determined  in
section  one thousand thirty-five of the internal revenue code, shall be
excluded from such income. Provided that such exclusion shall  be  based
on satisfactory proof that such an exchange was solely an exchange of an
annuity  for an annuity contract that resulted in a non-taxable transfer
determined by such section of the internal  revenue  code.  Furthermore,
such  income  shall  not  include the proceeds of a reverse mortgage, as
authorized by section six-h of the banking law, and sections two hundred
eighty and two hundred eighty-a of  the  real  property  law;  provided,
however,  that  monies  used  to  repay  a  reverse  mortgage may not be
deducted from income, and provided additionally  that  any  interest  or
dividends  realized  from  the  investment  of reverse mortgage proceeds
shall be considered income. The provisions of  this  paragraph  notwith-
standing,  such  income  shall  not  include veterans disability compen-
sation, as defined in Title 38 of the United States  Code  provided  the
governing  board  of  such  municipality, after public hearing, adopts a
local law, ordinance or resolution providing therefor. In computing  net
rental  income  and  net  income  from  self-employment  no depreciation
deduction shall be allowed for the exhaustion, wear and tear of real  or
personal property held for the production of income;
  § 2. Paragraph (a) of subdivision 5 of section 459-c of the real prop-
erty  tax law, as amended by chapter 131 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,
AND  FIFTY THOUSAND DOLLARS BEGINNING JULY FIRST, TWO THOUSAND NINETEEN,
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 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 proper-
ty due to divorce, legal separation or abandonment, 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

S. 5557                             3

and retirement benefits, interest, dividends, total gain from  the  sale
or  exchange  of  a capital asset which may be offset by a loss from the
sale or exchange of a capital asset in the same  income  tax  year,  net
rental  income, salary or earnings, and net income from self-employment,
but shall not include a return of capital, gifts, inheritances or monies
earned through employment in the federal foster grandparent program  and
any  such  income  shall  be offset by all medical and prescription drug
expenses actually paid which were not reimbursed or paid for  by  insur-
ance,  if the governing board of a municipality, after a public hearing,
adopts a local law or resolution providing therefor.  In  computing  net
rental  income  and  net  income  from  self-employment  no depreciation
deduction shall be allowed for the exhaustion, wear and tear of real  or
personal property held for the production of income;
  § 3. This act shall take effect immediately.

Co-Sponsors

S5557A (ACTIVE) - Details

See Assembly Version of this Bill:: A3149
Current Committee:: Assembly Aging
Law Section:: Real Property Tax Law
Laws Affected:: Amd §§467 & 459-c, RPT L
Versions Introduced in Other Legislative Sessions:: 2015-2016: S7859, A10335
2017-2018: S772, A10297
2021-2022: S3085, A3956

S5557A (ACTIVE) - Summary

S5557A (ACTIVE) - Sponsor Memo

 
BILL NUMBER: S5557A

SPONSOR: STEWART-COUSINS
 
TITLE OF BILL:

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 eligibility
for the property tax exemption for persons sixty-five years of age or
over and for persons with disabilities and limited income

 
PURPOSE OR GENERAL IDEA OF BILL:

The purpose of this bill is to provide certain income-eligible senior
citizens and persons with disabilities and limited income with relief
from the burden of increasing real property taxes.

 
SUMMARY OF PROVISIONS:

Section 1 amends real property tax law section 467 (3)(a)to raise the
maximum income eligibility for seniors to obtain a real property tax
exemption from $29,000 to $50,000 beginning July 1, 2020.

Section 2 amends real property tax law section 459- c (5) (a) , to raise
the maximum income eligibility for the disabled to obtain a real proper-
ty tax exemption from $29,000 to $50,000 beginning July 1, 2020.

Section 3 is the effective date.

 
JUSTIFICATION:

New York State has a growing number of low-income seniors on fixed
incomes and persons with disabilities who have limited income who are
faced with ever increasing property taxes making it difficult for them
to continue to live in and maintain their own homes. To lessen the
burden of ever increasing property taxes this bill provides them with
much needed relief by allowing local governments the option to raise the
maximum income eligibility limit for the Senior Citizen Real Property
Tax Exemption program and the Persons with Disabilities Real Property
Tax Exemption from the current $37,399.99 to $50,000.  The maximum
income eligibility for these exemptions has not been raised since 2009.

This bill would help some of New York's most vulnerable citizens stay in
their homes and remain in their communities.

 
PRIOR LEGISLATIVE HISTORY:

2016: 57859 (Stewart-Cousins) passed the Senate the senate; A10335
referred to Assembly aging
2017:5772(Stewart-Cousins)passed the Senate
2018:5772(Stewart-Cousins)Referred to Aging
2019:5557(Stewart-Cousins)passed the Senate

 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:

None to the State; however, this bill might result in the loss of reven-
ue for local governments.

 
EFFECTIVE DATE:
This act shall take effect immediately.

S5557A (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 5557--A

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                               May 7, 2019
                               ___________

Introduced  by Sens. STEWART-COUSINS, BIAGGI, CARLUCCI, KAPLAN, LIU, MAY
  -- 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  commit-
  tee

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 TWENTY, 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,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

                                                           LBD05065-02-0

S. 5557--A                          2

except where the husband or wife, or ex-husband  or  ex-wife  is  absent
from  the  property as provided in subparagraph (ii) of paragraph (d) of
this subdivision, then only the income of the spouse or ex-spouse resid-
ing  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 or exchange of a capital
asset which may be offset by a loss from the sale or exchange of a capi-
tal asset in the same income tax year,  net  rental  income,  salary  or
earnings,  and  net income from self-employment, but shall not include a
return of capital, gifts, inheritances,  payments  made  to  individuals
because  of  their  status as victims of Nazi persecution, as defined in
P.L. 103-286 or monies earned through employment in the  federal  foster
grandparent  program  and any such income shall be offset by all medical
and prescription drug expenses actually paid which were  not  reimbursed
or  paid  for  by  insurance,  if the governing board of a municipality,
after a public hearing, adopts a  local  law,  ordinance  or  resolution
providing therefor. In addition, an exchange of an annuity for an annui-
ty  contract,  which  resulted  in  non-taxable  gain,  as determined in
section one thousand thirty-five of the internal revenue code, shall  be
excluded  from  such income. Provided that such exclusion shall be based
on satisfactory proof that such an exchange was solely an exchange of an
annuity for an annuity contract that resulted in a non-taxable  transfer
determined  by  such  section of the internal revenue code. Furthermore,
such income shall not include the proceeds of  a  reverse  mortgage,  as
authorized by section six-h of the banking law, and sections two hundred
eighty  and  two  hundred  eighty-a  of the real property law; provided,
however, that monies used  to  repay  a  reverse  mortgage  may  not  be
deducted  from  income,  and  provided additionally that any interest or
dividends realized from the  investment  of  reverse  mortgage  proceeds
shall  be  considered  income. The provisions of this paragraph notwith-
standing, such income shall  not  include  veterans  disability  compen-
sation,  as  defined  in Title 38 of the United States Code provided the
governing board of such municipality, after  public  hearing,  adopts  a
local  law, ordinance or resolution providing therefor. In computing net
rental income  and  net  income  from  self-employment  no  depreciation
deduction  shall be allowed for the exhaustion, wear and tear of real or
personal property held for the production of income;
  § 2. Paragraph (a) of subdivision 5 of section 459-c of the real prop-
erty tax law, as amended by chapter 131 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,
AND FIFTY THOUSAND DOLLARS BEGINNING JULY FIRST,  TWO  THOUSAND  TWENTY,
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 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

S. 5557--A                          3

the husband or wife, or ex-husband or ex-wife is absent from the proper-
ty due to divorce, legal separation or abandonment, 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
or  exchange  of  a capital asset which may be offset by a loss from the
sale or exchange of a capital asset in the same  income  tax  year,  net
rental  income, salary or earnings, and net income from self-employment,
but shall not include a return of capital, gifts, inheritances or monies
earned through employment in the federal foster grandparent program  and
any  such  income  shall  be offset by all medical and prescription drug
expenses actually paid which were not reimbursed or paid for  by  insur-
ance,  if the governing board of a municipality, after a public hearing,
adopts a local law or resolution providing therefor.  In  computing  net
rental  income  and  net  income  from  self-employment  no depreciation
deduction shall be allowed for the exhaustion, wear and tear of real  or
personal property held for the production of income;
  § 3. This act shall take effect immediately.

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The New York State Senate

senate Bill S5557

Sponsored By

Archive: Last Bill Status - Passed Senate

Your Voice

Actions

Votes

Jan 29, 2020 - floor Vote

Floor Vote: Jan 29, 2020

Jan 22, 2020 - Aging committee Vote

Committee Vote: Jan 22, 2020

May 21, 2019 - floor Vote

Floor Vote: May 21, 2019

May 14, 2019 - Aging committee Vote

Aging Committee Vote: May 14, 2019

Bill Amendments

Co-Sponsors

S5557 - Details

S5557 - Summary

S5557 - Sponsor Memo

S5557 - Bill Text download pdf

Co-Sponsors

S5557A (ACTIVE) - Details

S5557A (ACTIVE) - Summary

S5557A (ACTIVE) - Sponsor Memo

S5557A (ACTIVE) - Bill Text download pdf

Comments

senate Bill S5557

Share this bill

Sponsored By

Archive: Last Bill Status - Passed Senate

Your Voice

Actions

Votes

Jan 29, 2020 - floor Vote

Floor Vote: Jan 29, 2020

Jan 22, 2020 - Aging committee Vote

Committee Vote: Jan 22, 2020

May 21, 2019 - floor Vote

Floor Vote: May 21, 2019

May 14, 2019 - Aging committee Vote

Aging Committee Vote: May 14, 2019

Bill Amendments

Co-Sponsors

S5557 - Details

S5557 - Summary

S5557 - Sponsor Memo

S5557 - Bill Text download pdf

Co-Sponsors

S5557A (ACTIVE) - Details

S5557A (ACTIVE) - Summary

S5557A (ACTIVE) - Sponsor Memo

S5557A (ACTIVE) - Bill Text download pdf

Comments