Extends real property exemption for veterans organizations to include property occupied by any person although not also entitled to exemption

3 Co-sponsors

• Daniel Burling
• Joseph Saladino
• Felix Ortiz

1 Multi-sponsor

• Dierdre Scozzafava

BILL NUMBER:A10458

Title of bill

An act to amend the real property tax law, in relation to extending real property exemption for veterans' organizations to include property so owned which is occupied by any person although not also entitled to exemption

Purpose

Extends real property tax exemption for veterans organizations to include property occupied by any person although not entitled to exemption

Summary of provisions

Section 1: Declares legislative intent and find- ings.

Section 2: Subdivision 1 of section 452 of the real property tax law is amended to state that net income, of real property owned by organiza- tions of persons pursuant to the provisions of section two of the benev- olent orders law shall be entitled to an exemption if so eligible as provided by this section.

Section 3: States the effective date.

Justification

Presently, most veterans' organizations support their charitable, educational, and veteran's programs by renting space in their buildings. However, if the renter/tenant is not an exempt entity, the rental portion is taxable. This taxation has a devastating effect on the posts' maintenance and programs. This law would seek to clarify that such income is now exempt from taxation, as was originally intended.

Prior legislative history

New bill.

Fiscal implications

None to the state.

Effective date

This act shall take effect immediately.