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Assembly Bill A7142

2023-2024 Legislative Session

Exempts a recovery of an award from the September eleventh victim compensation fund from income

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Archive: Last Bill Status - In Assembly Committee

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2023-A7142 (ACTIVE) - Details

Current Committee:
Assembly Aging
Law Section:
Real Property Tax Law
Laws Affected:
Amd §467-c, RPT L
Versions Introduced in 2021-2022 Legislative Session:
A7410

2023-A7142 (ACTIVE) - Summary

Exempts a recovery of an award from the September eleventh victim compensation fund from income.

2023-A7142 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7142
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 11, 2023
                                ___________
 
 Introduced  by  M.  of A. PHEFFER AMATO -- read once and referred to the
   Committee on Aging
 
 AN ACT to amend the real property tax law, in relation  to  exempting  a
   recovery  of  an award from the September eleventh victim compensation
   fund from income
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph f of subdivision 1 of section 467-c of the real
 property tax law, as amended by chapter 500 of  the  laws  of  2001,  is
 amended to read as follows:
   f.  "Income"  means income received by the eligible head of the house-
 hold combined with the income of all other members of the household from
 all sources after deduction of all income and social security taxes  and
 includes  without  limitation,  social security and retirement benefits,
 supplemental security  income  and  additional  state  payments,  public
 assistance  benefits, interest, dividends, net rental income, salary and
 earnings, and net income from self employment,  but  shall  not  include
 gifts  or inheritances, RECOVERY OF AN AWARD FROM THE SEPTEMBER ELEVENTH
 VICTIM COMPENSATION FUND OF TWO THOUSAND  ONE  ESTABLISHED  PURSUANT  TO
 TITLE  IV OF THE FEDERAL AIR TRANSPORTATION SAFETY AND SYSTEM STABILIZA-
 TION ACT, P.L. 107-42, AS AMENDED, payments made to individuals  because
 of  their  status  as  victims  of  Nazi  persecution as defined in P.L.
 103-286, nor increases in benefits accorded pursuant to the social secu-
 rity act or a public or private pension paid to any member of the house-
 hold which increase, in any given year, does  not  exceed  the  consumer
 price  index  (all items United States city average) for such year which
 take effect after the eligibility date of an eligible head of the house-
 hold receiving benefits hereunder whether received by the eligible  head
 of the household or any other member of the household. When the eligible
 head  of  the  household has retired on or after the commencement of the
 taxable period and prior to the date of making an application for a rent
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11291-01-3

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