NY A05086

Amends Real Property Tax Law Section 452 to extend tax exemption for veterans' organizations to include property occupied by tenants who are not themselves exempt entities

Removes the requirement that veterans' organization property be "actually and exclusively used and occupied" by the organization, allowing rental to non-exempt tenants while maintaining exemption status

Exemption remains available as long as the entire net income from the property is applied to carrying costs, maintenance, depreciation charges, and support of the veterans' organization's charitable, educational, and veterans' programs

Expands eligible veterans' organizations to include organizations pursuant to the Benevolent Orders Law, in addition to existing groups like American Legion, Veterans of Foreign Wars, and Disabled American Veterans

Takes effect immediately and applies retroactively to April 1, 2012