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NY S06736

Bill

Official Source

Status

Introduced

5/13/2021

Primary Sponsor

Andrew Gounardes

Click for details

Origin

Senate

2021-2022 General Assembly

AI Summary

  • Amends the real property tax law definition of "income" to exclude recovery awards from the September 11 victim compensation fund established under the federal Air Transportation Safety and System Stabilization Act (P.L. 107-42)
  • Excludes these September 11 compensation awards from income calculations used to determine eligibility for rent increase exemptions and tax abatement certificates
  • Maintains existing exclusions from income including gifts, inheritances, and Nazi persecution victim payments
  • Takes effect immediately upon enactment

Legislative Description

Exempts a recovery of an award from the September eleventh victim compensation fund from income.

Last Action

REFERRED TO AGING

1/5/2022

Committee Referrals

Aging5/20/2021
Judiciary5/13/2021

Full Bill Text

No bill text available