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Sponsors
Senator · Senate District 61
History
- Reported and committed to finance
- Referred to aging
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6286
Title of bill
An act to amend the real property tax law and the tax law, in relation to reinstating the "Senior STAR" rebate program
Summary of provisions
This bill would create the Senior STAR rebate program.
Section 1 adds a new Real Property Tax Law Section 1306-B, entitled
"Senior STAR" rebate program. This section provides that if a parcel is entitled to the enhanced STAR exemption pursuant to RPTL section 425 for the 2012-13 school year and thereafter, a local real property tax rebate shall be provided to the owner or owners of such parcel. The section sets forth the process by which such rebate shall be determined.
Section 2 adds a new Tax law section 178 entitled "Senior STAR" rebate program. The section sets forth the mechanism by which the Department of Taxation shall issue STAR Rebates to those entitled to receive such rebates.
Section 3 amends section 606 of the Tax Law to create a new section (uu) maximum residential school tax credit.
Section 4 provides that this act shall take effect immediately.
Purpose and justification
Real property taxes are a serious burden for many senior homeowners with limited incomes. School taxes represent a substantial portion of the property taxes that homeowners pay. Six years ago, the Legislature gave additional assistance to hard-pressed homeowners through the STAR Rebate program. The STAR Rebate program was discontinued in the SFY 2009-10 Budget, but this was an important program that gave help to homeowners who were struggling to pay local property taxes. This bill will give additional help to senior homeowners with limited incomes who are struggling to afford to remain in their homes.
Existing law
Currently, eligible senior homeowners receive enhanced exemptions on their school tax bills which reduce the amount of such taxes.
Prior legislative history
New bill.
Fiscal implications
To be determined.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.