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NY A03034
Bill
Status
Passed
11/3/2021
Primary Sponsor
John McDonald
Click for details
AI Summary
- Modifies the definition of "income tax year" for 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 year
- For taxable status dates on or after April 15, uses the federal income tax return filed for the immediately preceding year
- Removes the previous definition that simply referenced the twelve-month period for which owners 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
signed chap.558
11/3/2021
Committee Referrals
Local Government5/10/2021
Ways and Means4/27/2021
Real Property Taxation1/22/2021
Full Bill Text
No bill text available