|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 16, 2021||referred to local government|
senate Bill S1944
Current Bill Status - In Senate Committee Local Government Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S1944 (ACTIVE) - Details
S1944 (ACTIVE) - Sponsor Memo
BILL NUMBER: S1944 SPONSOR: AKSHAR TITLE OF BILL: An act to amend the real property tax law, in relation to extending the benefits of the STAR program to small businesses PURPOSE OR GENERAL IDEA OF BILL: Allow real property owned by a small business to be eligible for the STAR program. SUMMARY OF SPECIFIC PROVISIONS: Section 1 Amends the real property tax law to include small businesses to qualify for the STAR property tax exemption. Defines small business to mean a business which employs one hundred persons or less. Section 2 Provides that the act shall take effect immediately and shall apply to all taxable years beginning on and after January 1, 2019.
S1944 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1944 2021-2022 Regular Sessions I N S E N A T E January 16, 2021 ___________ Introduced by Sens. AKSHAR, JORDAN -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the real property tax law, in relation to extending the benefits of the STAR program to small businesses THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 3 of section 425 of the real property tax law, as added by section 1 of part B of chapter 389 of the laws of 1997, paragraph (a) as amended by chapter 264 of the laws of 2000, paragraph (b-1) as amended by section 1 of part RR of chapter 59 of the laws of 2019, paragraph (d) as amended by chapter 564 of the laws of 2015 and paragraph (e) as added by section 2 of part W of chapter 57 of the laws of 2008, is amended and a new paragraph (f) is added to read as follows: 3. Eligibility requirements. (a) Property use. To qualify for exemption pursuant to this section, the property must be a one, two or three family residence, a farm dwelling, SMALL BUSINESS or residential property held in condominium or cooperative form of ownership. If the property is not an eligible type of property, but a portion of the prop- erty is partially used by the owner as a primary residence, that portion which is so used shall be entitled to the exemption provided by this section; provided that in no event shall the exemption exceed the assessed value attributable to that portion. (b) Primary residence. The property must serve as the primary resi- dence of one or more of the owners thereof, UNLESS SUCH PROPERTY IS OWNED BY A SMALL BUSINESS AS DEFINED IN PARAGRAPH (F) OF THIS SUBDIVI- SION. (b-1) Income. For final assessment rolls to be used for the levy of taxes for the two thousand eleven-two thousand twelve through two thou- sand eighteen-two thousand nineteen school years, the parcel's affil- iated income may be no greater than five hundred thousand dollars, as determined by the commissioner pursuant to subdivision fourteen of this EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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