NY A07234

Removes the provision allowing STAR (school tax relief) property tax exemption holders to transition to a personal income tax credit under Tax Law Section 606(eee).

Repeals subdivision 16 of Real Property Tax Law Section 425, which authorized the alternative STAR exemption pathway.

Eliminates the waiver of the $500 processing fee for taxpayers renouncing a STAR exemption to qualify for the personal income tax credit.

Modifies the requirement for the credit eligibility to reference only the STAR exemption authorized by Real Property Tax Law Section 425, removing reference to the repealed tax credit alternative.

Takes effect immediately upon enactment.