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NY A08850

Bill

Official Source

Status

Engrossed

7/21/2020

Primary Sponsor

John McDonald

Click for details

Origin

Assembly

2019-2020 General Assembly

AI Summary

  • Modifies the definition of "income tax year" for real property tax exemption eligibility based on the taxable status date
  • For taxable status dates on or before April 14, uses the federal income tax return filed for the year before the immediately preceding income tax year
  • For taxable status dates on or after April 15, uses the federal income tax return filed for the immediately preceding income tax year
  • Replaces the previous definition that simply used the twelve-month period for which an owner filed a federal personal income tax return
  • Takes effect immediately upon enactment

Legislative Description

Provides that where the taxable status date is on or before April fourteenth, income tax year shall mean the twelve month period for which the owner or owners filed a federal personal income tax return for the year before the income tax year immediately preceding the date of application and where the taxable status date is on or after April fifteenth income tax year shall mean the twelve month period for which owner or owners filed a federal personal income tax return for the income tax year immediately preceding the date of application.

Last Action

REFERRED TO RULES

7/21/2020

Committee Referrals

Rules7/21/2020
Rules7/17/2020
Ways and Means2/25/2020
Real Property Taxation12/18/2019

Full Bill Text

No bill text available