NY S03053

Expands the definition of "income" for school tax relief (STAR) exemption purposes to exclude distributions from 401(k) and 403(b) accounts, in addition to existing exclusions for individual retirement accounts and annuities

Adds simplified employee pension (SEP) plan distributions to the list of income sources that may be excluded when calculating adjusted gross income for STAR eligibility

Requires individuals who did not file a tax return for the applicable year to submit a statement to the department detailing their income sources and amounts, effective for exemption applications on final assessment rolls completed in 2019 or later

Directs the department to create and provide forms and instructions for filing income statements, subject to the same confidentiality rules as personal income tax returns

Takes effect on January 1 following enactment