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History
- Referred to local government
- Referred to local government
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.
Provides school tax exemption relief (STAR) to small business with 20 or fewer employees
In Assembly Committee · Real Property Taxation · Sponsor Robin Schimminger
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3050
Title of bill
An act to amend the real property tax law, in relation to extending the benefits of the STAR program to small businesses
Purpose
To make real property owned by a small business eligible for the STAR program.
Summary of provisions
Section 1 would amend subdivision 3 of section 425 of the real property tax law by adding real property owned by a small business to the list of categories eligible for the STAR program, and defines "small business" as one which employs twenty persons or less.
Section 2 provides for an immediate effective date, applicable to taxable years beginning on and after January 1, 2013.
Justification
The STAR program provides for a partial exemption from school property taxes for owner-occupied, primary residences. Senior citizens were the first to benefit based on income eligibility, and the program has since been extended to include all New Yorkers who own their own home. STAR works by exempting a portion of the property's assessed valuation from the school tax rate. This bill would expand the STAR program to real property owned by small businesses (twenty or less employees). The same economic pressures that have been brought to bear on senior citizens and residential home owners have affected small businesses' ability to compete in the market place and to expand and create more jobs. School property tax relief is a key ingredient in easing the heavy hand of government on an essential component of New York's economic engine: small business.
Legislative history
S.2376 of 2011-12; S.3055 of 2009-10; S.2734/A.3412 of 2007-08.
Fiscal implications
To be determined.
Effective date
Immediately, applicable to taxable years beginning on and after January 1, 2013.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.