Grants school tax exemption for payment of certain school and educational expenses

BILL NUMBER:A8604

Title of bill

An act to amend the real property tax law, in relation to school tax tuition exemption

Purpose

To allow individuals who pay all or part of the actual educa- tional expenses of. tuition and/or textbooks for any district student to receive a real property tax credit.

Justification

Despite the fact that school taxes usually increase every year, the academic gains by students have not been commensurate with the money being collected. Many families have chosen to either supplement their child's education or take them out of public school altogether to either send them to private schools or home school them on their own many of these individuals struggle to pay their day to day expenses and in addition to pay tuition or other educational expenses for their children. These families should be encouraged to maintain this dedication to the education of our young people. In addition, a tax credit is favorable to a deduction to be claimed on a tax return because it allows those families who do not itemize their deductions to get the tax credit.

Summary of specific provisions

Section 1. Titles the bill "The Freedom of Education Act."

Section 2. The real property tax law is amended by adding a new section 425.-b to read any individual owner of real in any school district in the state of New York, who pays all or any part of the actual educa- tional expenses of tuition and/or textbooks, for any student who is a resident of said district, in any public or private elementary or secondary school, which legally fulfills the state of New York compulso- ry attendance laws, maybe eligible, pursuant to this section, to receive an exemption from taxation for school purposes from, the school district in which the student resides, in an amount not to exceed ninety percent of the taxpayer's school property tax assessment.

Legislative history

2003-04 S154/A10166 Referred to Local Government 2005-05 S332/A5751 Referred to Local Government 2007-08 S3257 Referred to Local Government

Fiscal implications

To be determined.

Effective date

This act shall take effect on the first of January next succeeding the date on which it shall have become law and shall apply to assessment rolls prepared on the basis of taxable status dates occurring on or after such effective date.