Assembly Bill A2747

2023-2024 Legislative Session

Enacts the "Affordable NY act"

download bill text pdf

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Current Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-A2747 (ACTIVE) - Details

See Senate Version of this Bill:
S4801
Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §§425 & 1306-a, RPT L; amd §601, Tax L
Versions Introduced in 2021-2022 Legislative Session:
A6552, S4325

2023-A2747 (ACTIVE) - Summary

Enacts the "Affordable NY act"; increases the STAR exemptions; adjusts personal income tax rates.

2023-A2747 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2747
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 27, 2023
                                ___________
 
 Introduced  by  M.  of  A. J. A. GIGLIO -- read once and referred to the
   Committee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to increasing the
   base figure for the STAR exemption (Part A); and to amend the tax law,
   in relation to adjusting certain rates for the imposition of  personal
   income tax (Part B)

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. This act enacts into law components of legislation relating
 to the "Affordable NY act". Each component is wholly contained within  a
 Part  identified  as  Parts  A  through  B.  The effective date for each
 particular provision contained within such Part is set forth in the last
 section of such Part. Any provision in any section  contained  within  a
 Part,  including the effective date of the Part, which makes a reference
 to a section "of this act", when used in connection with that particular
 component, shall be deemed  to  mean  and  refer  to  the  corresponding
 section of the Part in which it is found. Section three of this act sets
 forth the general effective date of this act.
 
                                  PART A

   Section  1.  Subparagraph  (vi)  of  paragraph (b) of subdivision 2 of
 section 425 of the real property tax law, as added by section 1 of  part
 D-1  of chapter 57 of the laws of 2007, clause (A) as further amended by
 subdivision (b) of section 1 of part W of chapter  56  of  the  laws  of
 2010, is amended to read as follows:
   (vi)  For  the  two  thousand  nine--two thousand ten school year [and
 thereafter] THROUGH THE TWO THOUSAND TWENTY-THREE--TWO THOUSAND  TWENTY-
 FOUR SCHOOL YEAR:
   (A)  The  base  figure for the enhanced STAR exemption shall equal the
 prior year's base figure multiplied by the percentage  increase  in  the
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07166-01-3
              

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