Senate Bill S1133

2023-2024 Legislative Session

Relates to the definition of income in relation to the enhanced STAR exemption

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Finance 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-S1133 (ACTIVE) - Details

See Assembly Version of this Bill:
A8850
Current Committee:
Senate Finance
Law Section:
Real Property Tax Law
Laws Affected:
Amd §425, RPT L; amd §606, Tax L
Versions Introduced in Other Legislative Sessions:
2017-2018: S6058, A7537
2019-2020: S2313, A7452
2021-2022: S1645, A2226

2023-S1133 (ACTIVE) - Summary

Includes distribution from a thrift savings plan in the definition of income in relation to the enhanced STAR exemption.

2023-S1133 (ACTIVE) - Sponsor Memo

2023-S1133 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1133
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 10, 2023
                                ___________
 
 Introduced  by  Sen. SKOUFIS -- read twice and ordered printed, and when
   printed to be committed to the Committee on Finance
 
 AN ACT to amend the real property tax law and the tax law,  in  relation
   to the definition of income in relation to the enhanced STAR exemption
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraph (ii) of paragraph  (b)  of  subdivision  4  of
 section  425  of  the  real property tax law, as amended by section 1 of
 part B of chapter 59 of the laws of 2018, is amended to read as follows:
   (ii) The term "income" as used herein shall mean the  "adjusted  gross
 income"  for  federal income tax purposes as reported on the applicant's
 federal or state income tax return for the applicable income  tax  year,
 subject  to  any subsequent amendments or revisions, reduced by distrib-
 utions, to  the  extent  included  in  federal  adjusted  gross  income,
 received from an individual retirement account and an individual retire-
 ment  annuity,  AND  DISTRIBUTION FROM A THRIFT SAVINGS PLAN ESTABLISHED
 PRIOR TO JANUARY FIRST, NINETEEN HUNDRED EIGHTY-FOUR; provided  that  if
 no  such  return  was filed for the applicable income tax year, "income"
 shall mean the adjusted gross income that would have been so reported if
 such a return had been filed.   Provided further,  that  effective  with
 exemption applications for final assessment rolls to be completed in two
 thousand  nineteen,  where an income-eligibility determination is wholly
 or partly based upon the income of one or more individuals who  did  not
 file  a return for the applicable income tax year, then in order for the
 application to be considered complete, each such individual must file  a
 statement  with  the  department showing the source or sources of his or
 her income for that income tax year, and the amount or amounts  thereof,
 that  would  have  been reported on such a return if one had been filed.
 Such statement shall be filed at such time, and in such form and manner,
 as may be prescribed by the department, and  shall  be  subject  to  the
 secrecy  provisions  of  the  tax law to the same extent that a personal
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03727-01-3
              

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