Bill Text: NY A01759 | 2013-2014 | General Assembly | Introduced

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Bill Title: Provides for a real property tax exemption on real property owned by siblings, one of whom is over 65, once granted, shall not be rescinded solely because of the death of the older sibling as long as the surviving sibling owner is at least 62.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2014-01-08 - referred to real property taxation [A01759 Detail]

Download: New_York-2013-A01759-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         1759
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                      (PREFILED)
                                    January 9, 2013
                                      ___________
       Introduced  by  M.  of  A.  ENGLEBRIGHT -- read once and referred to the
         Committee on Real Property Taxation
       AN ACT to amend the real property tax law, in relation to not rescinding
         certain tax exemptions for real property owned by siblings
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Subparagraph  (iii)  of paragraph (a) of subdivision 4 of
    2  section 425 of the real property tax law, as added by section 4 of  part
    3  A of chapter 405 of the laws of 1999, is amended to read as follows:
    4    (iii)  In  the  case  of  property  owned  by  husband  and wife OR BY
    5  SIBLINGS, one of whom is sixty-five years of age or over, the exemption,
    6  once granted, shall not be rescinded solely because of the death of  the
    7  older  spouse  OR SIBLING, so long as the surviving spouse OR SIBLING is
    8  at least sixty-two years of age as of the date specified in  this  para-
    9  graph.
   10    S 2. Paragraph (d) of subdivision 1 of section 467 of the real proper-
   11  ty tax law, as amended by chapter 440 of the laws of 1985, is amended to
   12  read as follows:
   13    (d)  The real property tax exemption on real property owned by husband
   14  and wife OR BY SIBLINGS, one of whom is sixty-five years of age or over,
   15  once granted, shall not be rescinded by any municipal corporation solely
   16  because  of  the  death  of  the  older spouse OR SIBLING so long as the
   17  surviving spouse OR SIBLING is at least sixty-two years of age.
   18    S 3. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD02076-01-3