Loading chat...

NY A08626

Bill

Official Source

Status

Introduced

1/28/2014

Primary Sponsor

Marc Butler

Click for details

Origin

Assembly

2013-2014 General Assembly

AI Summary

  • Amends Real Property Tax Law Section 458 to extend veteran primary residence tax exemptions to properties owned by limited liability companies if the LLC is owned by persons who would qualify for the exemption
  • Modifies Section 458-a to expand the definition of "qualified owner" to include limited liability companies meeting the ownership criteria, in addition to veterans, their spouses, and unremarried surviving spouses of veterans
  • Allows multiple qualified owners to combine their exemptions and permits veterans who are also unremarried surviving spouses of veterans to receive exemptions for both statuses
  • Takes effect immediately upon enactment

Legislative Description

Concerns primary residences owned by limited liability companies that are occupied by veterans.

Last Action

held for consideration in veterans' affairs

5/20/2014

Committee Referrals

Veterans' Affairs1/28/2014

Full Bill Text

No bill text available