NY S02570

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

Requires individuals who did not file tax returns for the applicable income tax year to submit a statement to the department showing their income sources and amounts, effective for exemption applications for final assessment rolls completed in 2019 and thereafter.

Directs the department to create and make available forms and instructions for filing income statements, and requires local assessors to assist taxpayers upon request in filing these statements.

Subjects income statements to the same secrecy provisions as personal income tax returns under tax law.

Effective January 1 of the year following the date the bill becomes law.