NY S05722

Amends Real Property Tax Law section 458-b to allow Cold War veterans' property tax exemption to be extended for an additional ten years or made permanent after the initial ten-year exemption period.

Authorizes counties, cities, towns, villages and school districts to adopt local laws or resolutions implementing the extension or permanent status of the exemption.

Extension or permanent status becomes effective on the first taxable status date occurring on or after the adoption of a local law or resolution authorizing such change.

Maintains existing provisions for exemption commencement dates based on property ownership at the time of exemption enactment or subsequent purchase.

Takes effect immediately, with extension provisions applicable only in jurisdictions that adopt authorizing local laws or resolutions.