Bill Text: NY S02338 | 2011-2012 | General Assembly | Introduced

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Bill Title: Provides for the inclusion of sales tax revenue shared by a county with the school district in the STAR savings calculation.

Spectrum: Partisan Bill (Republican 6-0)

Status: (Introduced - Dead) 2012-01-17 - PRINT NUMBER 2338A [S02338 Detail]

Download: New_York-2011-S02338-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2338
                              2011-2012 Regular Sessions
                                   I N  S E N A T E
                                   January 19, 2011
                                      ___________
       Introduced  by Sens. RANZENHOFER, ALESI, DeFRANCISCO, MAZIARZ, ROBACH --
         read twice and ordered printed, and when printed to  be  committed  to
         the Committee on Local Government
       AN  ACT  to  amend  the real property tax law, in relation to school tax
         relief program (STAR) savings calculation
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Subdivision  2 of section 1306-a of the real property tax
    2  law, as added by section 16 of part B of chapter  389  of  the  laws  of
    3  1997, is amended to read as follows:
    4    2.  Tax  savings.  (A)  The  tax savings for each parcel receiving the
    5  exemption authorized by section four hundred twenty-five of this chapter
    6  shall be computed by subtracting the amount actually levied against  the
    7  parcel  from  the  amount  that  would  have  been levied if not for the
    8  exemption.
    9    (B) FOR PURPOSES OF THIS SUBDIVISION, TAX SAVINGS SHALL BE  CALCULATED
   10  TO  INCLUDE  ANY  SALES  TAX  REVENUE  SHARED  BY A COUNTY WITH A SCHOOL
   11  DISTRICT. SUCH SALES TAX REVENUE SHALL BE ADDED  ON  A  PRO  RATA  BASIS
   12  EQUAL  TO  THE  PERCENTAGE THAT EACH PARCEL RECEIVING AN EXEMPTION IS TO
   13  THE ENTIRE TAX LEVY, AS AN ADDITIONAL TAX LEVY, PRIOR TO CALCULATING THE
   14  SAVINGS.
   15    (C) A statement shall then be placed on the tax bill for the parcel in
   16  substantially the following form: "Your tax savings this year  resulting
   17  from the New York state school tax relief (STAR) program is $_______."
   18    S  2.  This  act shall take effect immediately and shall apply to real
   19  property taxes levied for fiscal years commencing on and  after  January
   20  1, 2012.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD02333-01-1