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NY S01122
Bill
Status
1/8/2025
Primary Sponsor
Peter Oberacker
Click for details
AI Summary
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Expands New York's STAR (School Tax Relief) property tax exemption program to include small businesses, in addition to the current eligible properties (one-, two-, or three-family residences, farm dwellings, and condominiums/cooperatives)
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Defines "small business" as a business employing 100 persons or fewer
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Removes the primary residence requirement for properties owned by qualifying small businesses, allowing commercial properties to receive the exemption
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Takes effect immediately and applies to all taxable years beginning on or after January 1, 2025
Legislative Description
Relates to extending the benefits of the STAR program to small businesses; defines small business as a business which employs one hundred persons or less.
Last Action
REFERRED TO LOCAL GOVERNMENT
1/7/2026