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NY A07943

Bill

Official Source

Status

Introduced

4/16/2025

Primary Sponsor

Paula Kay

Click for details

Origin

Assembly

2025-2026 General Assembly

AI Summary

  • Extends the STAR (School Tax Relief) property tax exemption to dwellings owned by single-member limited liability companies (LLCs)

  • Requires the property to serve as the primary residence of the LLC's sole member to qualify for the exemption

  • Amends Section 425 of the Real Property Tax Law by adding a new paragraph (e-1)

  • Takes effect immediately upon enactment

Legislative Description

Provides for a real property tax exemption for property owned by single-member limited liability companies where such property serves as the primary residence of such member.

Last Action

referred to real property taxation

1/7/2026

Committee Referrals

Real Property Taxation4/16/2025

Full Bill Text

No bill text available