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NY A03820
Bill
Status
Introduced
1/27/2015
Primary Sponsor
Edward Ra
Click for details
AI Summary
- Creates a new Tax Law section 1232 allowing residents in age-restricted communities (55+ years) to receive a 25% reduction in school taxes
- Reduction requires approval by the local town or village where the community is located
- Applies only to communities with zoning regulations that restrict ownership to residents 55 years of age and older
- Takes effect 30 days after enactment and applies to taxable years beginning on or after January 1, 2015
Legislative Description
Authorizes school tax reductions of 25% for residents in communities that restrict ownership to those fifty-five years of age and older.
Last Action
held for consideration in ways and means
6/15/2016
Committee Referrals
Ways and Means1/27/2015
Full Bill Text
No bill text available