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NY A01383

Bill

Official Source

Status

Introduced

1/17/2023

Primary Sponsor

Kenneth Zebrowski

Click for details

Origin

Assembly

2023-2024 General Assembly

AI Summary

  • Amends Real Property Tax Law section 1306-a to modify STAR (School Tax Relief) exemption tax savings calculations beginning with the 2019-2020 school year
  • Changes the tax savings limitation from "not exceed" to "equal" the prior year amount, effectively establishing a floor that prevents decreases in annual tax savings
  • Adds requirement that tax savings for any portion shall not be less than the prior year's tax savings amount
  • Maintains separate calculations for basic and enhanced STAR exemptions
  • Takes effect July 1 following enactment and applies to all assessments occurring on or after that date

Legislative Description

Provides that the amount of a STAR real property tax savings may not be less than the amount of the STAR real property tax savings from the previous year.

Last Action

enacting clause stricken

7/15/2024

Committee Referrals

Real Property Taxation1/17/2023

Full Bill Text

No bill text available