NY S04307

Suspends the running of income tax refund statute of limitations periods for individual taxpayers unable to manage financial affairs due to disability under both New York State tax law and New York City tax law.

Defines "financially disabled" as inability to manage financial affairs due to a medically determinable physical or mental impairment expected to result in death or last at least 12 continuous months, with proof required in form and manner specified by the Commissioner.

Exempts individuals from financial disability status during any period when a spouse or other authorized person manages their financial affairs on their behalf.

Takes effect immediately and applies to periods of financial disability beginning before, on, or after the law's effective date, but does not apply to refund claims already barred by law as of the effective date.