 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          4650
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 3, 2017
                                       ___________
 
        Introduced  by  M.  of A. MAGEE, CROUCH -- read once and referred to the
          Committee on Ways and Means
 
        AN ACT to amend the tax law, in relation to  property  tax  credits  for
          farmers
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Paragraph 3 of subsection (n) of section  606  of  the  tax
     2  law,  as  amended by chapter 728 of the laws of 2005, is amended to read
     3  as follows:
     4    (3) School district property taxes. For purposes of  this  subsection,
     5  the  term  "school  district  property  taxes" means all property taxes,
     6  special ad valorem levies and special assessments, exclusive  of  penal-
     7  ties  and interest, levied for school district purposes on the qualified
     8  agricultural property (A) owned by the taxpayer [or], (B) owned  by  the
     9  father,  mother,  grandfather,  grandmother,  brother  or  sister of the
    10  taxpayer  and  a  written  agreement  expressing  intent  to  eventually
    11  purchase  the land has been entered into, or (C) owned by trust to which
    12  the taxpayer is a beneficiary.
    13    § 2. This act shall take effect immediately.
 
 
 
 

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08277-01-7
Relates to property tax credits for farmers

What's Happening

Why It Matters
