Bill Text: NY S05421 | 2023-2024 | General Assembly | Amended
Bill Title: Relates to raising the income cap for senior citizens applying for the enhanced STAR property tax exemption to $120,000.
Spectrum: Partisan Bill (Republican 3-0)
Status: (Introduced) 2024-03-11 - PRINT NUMBER 5421A [S05421 Detail]
Download: New_York-2023-S05421-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 5421--A 2023-2024 Regular Sessions IN SENATE March 3, 2023 ___________ Introduced by Sens. PALUMBO, CANZONERI-FITZPATRICK -- read twice and ordered printed, and when printed to be committed to the Committee on Aging -- recommitted to the Committee on Aging in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the real property tax law, in relation to raising the income cap for senior citizens applying for the enhanced STAR property tax exemption 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 (b) of subdivision 4 of 2 section 425 of the real property tax law is amended by adding a new 3 clause (B-1) to read as follows: 4 (B-1) For final assessment rolls to be completed in two thousand twen- 5 ty-four, eligibility for the exemption shall be based upon income for 6 the income tax year immediately preceding the date of making application 7 for the exemption, and the income standard shall be one hundred twenty 8 thousand dollars. 9 § 2. This act shall take effect immediately and shall apply to all tax 10 years commencing on or after such date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD00651-03-4
