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History
- Referred to aging
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Exempts social security payments in determining eligibility for tax exemptions for persons 65 years of age or older
In Assembly Committee · Aging · Sponsor Phil Boyle
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the real property tax law, in relation to excluding social security income from computing tax exemptions for persons sixty-five years of age or over
Purpose
This bill would exclude social security benefits when determining the gross income figure to be used in applications for exemption for real property taxes.
Summary of provisions
Section 1 amends section 467 of the Real Property Tax Law by removing social security payments from the list currently considered income when determining eligibility for the real property tax exemption.
Justification
The receipt of social security benefits represents to many senior citizens a return of monies they contributed to the program during their working years. New York should not penalize seniors receiving those benefits by factoring their existence into the formula used to determine exemption eligibility. This legislation addresses this inequity by removing social security benefits from the income calculation formula.
Legislative history
2010 - New Bill.
Fiscal implications
None at the state level. Local governments would experience a slight increase in the number of exemptions as a result of lowered specification for gross income.
Effective date
This act shall take effect on the second of January next succeeding the date on which it has become law, and shall apply to assessment rolls prepared on the basis of taxable status dates occuring on and after such effective date.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.