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NY A03531

Bill

Official Source

Status

Introduced

1/27/2009

Primary Sponsor

Peter Abbate

Click for details

Origin

Assembly

2009-2010 General Assembly

AI Summary

  • Increases the real property tax exemption limit for veterans from $5,000 to $7,500 based on eligible military or naval service funds
  • Exemption amounts must be rounded to the nearest $50 increment, or to the next higher $50 increment if no nearest multiple exists
  • Allows veterans to claim established exemptions, newly claimed exemptions, or an aggregate of multiple exemptions up to the new $7,500 limit
  • Clarifies that commingling of eligible funds with other funds or retention by the United States for insurance premiums does not disqualify exemption claims
  • Effective date is July 1 of the year following the date the bill becomes law

Legislative Description

An act to amend the real property tax law, in relation to increasing exemption for veterans

Last Action

reported referred to ways and means

2/2/2010

Committee Referrals

Ways and Means2/2/2010
Veterans' Affairs1/6/2010
Ways and Means2/10/2009
Veterans' Affairs1/27/2009

Full Bill Text

No bill text available