Bill Text: NY A05784 | 2013-2014 | General Assembly | Introduced

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Bill Title: Authorizes school tax reductions of 25% for residents in communities that restrict ownership to those fifty-five years of age and older.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2014-06-17 - held for consideration in ways and means [A05784 Detail]

Download: New_York-2013-A05784-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         5784
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                     March 6, 2013
                                      ___________
       Introduced  by M. of A. RA -- read once and referred to the Committee on
         Ways and Means
       AN ACT to amend the tax law, in relation to school  tax  reductions  for
         residents  in  communities that restrict ownership to those fifty-five
         years of age and older
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The tax law is amended by adding a new section 1232 to read
    2  as follows:
    3    S  1232.  SCHOOL  TAX  REDUCTION.  IN ANY COMMUNITY WHERE ZONING REGU-
    4  LATIONS RESTRICT OWNERSHIP TO THOSE FIFTY-FIVE YEARS OF AGE  AND  OLDER,
    5  SUCH  RESIDENTS SHALL BE ELIGIBLE FOR A TWENTY-FIVE PERCENT REDUCTION IN
    6  SCHOOL TAXES UPON APPROVAL BY THE LOCAL TOWN OR VILLAGE.
    7    S 2. This act shall take effect on the thirtieth day  after  it  shall
    8  have become a law and shall apply to taxable years beginning on or after
    9  January 1, 2013.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD03771-01-3