NY A09396

Expands the definition of "income" for school tax relief exemption purposes to include distributions from 401(k) and 403(b) accounts and simplified employee pension plans (SEPs), in addition to existing individual retirement account and annuity distributions.

Requires these retirement account distributions to be reduced from adjusted gross income when calculating eligibility, provided they are included in federal adjusted gross income.

Effective for exemption applications for final assessment rolls completed in 2019 and later, requires individuals who did not file tax returns to submit a statement to the department detailing their income sources and amounts.

Specifies that statements from non-filers must be filed in a form and manner prescribed by the department and are subject to the same secrecy provisions as personal income tax returns.

Takes effect on January 1 following the date the bill becomes law.