Loading chat...

NY S03531

Bill

Official Source

Status

Introduced

2/8/2019

Primary Sponsor

David Carlucci

Click for details

Origin

Senate

2019-2020 General Assembly

AI Summary

  • Amends the real property tax law regarding enhanced STAR (School Tax Relief) exemption calculations upon property sale
  • Requires a purchaser who is not entitled to the enhanced STAR exemption to reimburse the municipality for the difference between the seller's tax liability and the purchaser's tax liability
  • Mandates the purchaser pay a pro-rated portion of the non-enhanced STAR exemption tax liability
  • Takes effect immediately upon enactment

Legislative Description

Relates to calculations of enhanced STAR upon sale of a parcel of real property with such exemption.

Last Action

REFERRED TO AGING

1/8/2020

Committee Referrals

Aging1/8/2020
Finance3/19/2019
Aging2/8/2019

Full Bill Text

No bill text available