Bill Text: NY A01383 | 2023-2024 | General Assembly | Introduced

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Bill Title: Provides that the amount of a STAR real property tax savings may not be less than the amount of the STAR real property tax savings from the previous year.

Spectrum: Partisan Bill (Democrat 11-0)

Status: (Introduced) 2024-07-15 - enacting clause stricken [A01383 Detail]

Download: New_York-2023-A01383-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          1383

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    January 17, 2023
                                       ___________

        Introduced  by M. of A. ZEBROWSKI, PAULIN, BUTTENSCHON, SAYEGH, HYNDMAN,
          LAVINE, JONES, SIMON, WOERNER, STERN -- read once and referred to  the
          Committee on Real Property Taxation

        AN ACT to amend the real property tax law, in relation to providing that
          the  amount  of  a STAR real property tax savings may not be less than
          the amount of the STAR real property tax  savings  from  the  previous
          year

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Subparagraph (i) of  paragraph  (a)  of  subdivision  2  of
     2  section  1306-a of the real property tax law, as amended by section 1 of
     3  part LL of chapter 59 of the  laws  of  2019,  is  amended  to  read  as
     4  follows:
     5    (i) The tax savings for each parcel receiving the exemption authorized
     6  by section four hundred twenty-five of this chapter shall be computed by
     7  subtracting  the  amount  actually  levied  against  the parcel from the
     8  amount that would have been levied if not for  the  exemption,  provided
     9  however,  that  for  the two thousand eleven-two thousand twelve through
    10  two thousand  eighteen-two  thousand  nineteen  school  years,  the  tax
    11  savings  applicable  to  any  "portion" (which as used herein shall mean
    12  that part of an assessing unit located within a school  district)  shall
    13  not  exceed  the  tax  savings  applicable  to that portion in the prior
    14  school year multiplied by one  hundred  two  percent,  with  the  result
    15  rounded  to the nearest dollar; and provided further that beginning with
    16  the two thousand nineteen-two  thousand  twenty  school  year:  (A)  for
    17  purposes of the exemption authorized by section four hundred twenty-five
    18  of  this  chapter,  the tax savings applicable to any portion shall [not
    19  exceed] equal the tax savings for the prior year, and (B)  for  purposes
    20  of  the credit authorized by subsection (eee) of section six hundred six
    21  of the tax law, the tax savings applicable  to  any  portion  shall  not
    22  exceed  the  tax  savings applicable to that portion in the prior school

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00957-01-3
        A. 1383                             2

     1  year multiplied by one hundred two percent, with the result  rounded  to
     2  the  nearest dollar nor shall the tax savings applicable to that portion
     3  be less than the tax savings for the prior year. The tax savings attrib-
     4  utable  to  the  basic and enhanced exemptions shall be calculated sepa-
     5  rately. It shall be the responsibility of the commissioner to  calculate
     6  tax savings limitations for purposes of this subdivision.
     7    §  2.  This act shall take effect on the first of July next succeeding
     8  the date upon which it shall have become a law and shall  apply  to  all
     9  assessments occurring on and after such date.