NY S00270

Expands the definition of "income" for school tax relief (STAR) exemption purposes to exclude distributions from 401(k), 403(b), and simplified employee pension (SEP) plans in addition to existing individual retirement account and annuity distributions.

Requires individuals who did not file a tax return for the applicable income tax year to submit a statement to the Department of Taxation and Finance detailing income sources and amounts, effective for exemption applications for final assessment rolls completed in 2019 and thereafter.

Mandates the Department of Taxation and Finance create forms and instructions for filing income statements and requires local assessors to assist taxpayers upon request in filing these statements.

Subjects income statements to the same confidentiality protections as personal income tax returns under tax law.

Takes effect on January 1 following the date of enactment.