NY A07466

Amends Section 458-b of the real property tax law to allow counties, cities, towns, and villages to adopt local laws granting real property tax exemptions to Cold War veterans.

Expands the definition of "cold war veteran" to include male or female veterans who served under the federal Reserve Forces Act of 1955 (Public Law 305, 84th Congress).

Requires that veterans served during the Cold War period and meet all other existing qualifications under the real property tax law to be eligible for the exemption.

Takes effect immediately and applies to assessment rolls with taxable status dates on or after January 2 of the year following enactment.