Loading chat...
NY A04844
Bill
Status
Introduced
2/8/2021
Primary Sponsor
Brian Miller
Click for details
AI Summary
- Amends the Real Property Tax Law Section 425 to include distributions from employer sponsored retirement plans in the definition of "income" for STAR exemption eligibility determinations
- Reduces adjusted gross income by distributions from individual retirement accounts, individual retirement annuities, and employer sponsored retirement plans when calculating income for tax relief purposes
- Applies to exemption applications for final assessment rolls completed in 2019 and thereafter
- Requires individuals without filed tax returns to submit a statement to the department detailing income sources and amounts that would have been reported
- Takes effect immediately upon enactment
Legislative Description
Includes distributions to an employer sponsored retirement plan in the definition of "income" for determining eligibility in the school tax relief program (STAR).
Last Action
referred to real property taxation
1/5/2022
Committee Referrals
Real Property Taxation2/8/2021
Full Bill Text
No bill text available