Assembly Bill A7673

2011-2012 Legislative Session

Relates to creating the middle class circuit breaker tax credit, and to the tax rate of certain taxpayers earning over one million dollars

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-A7673 (ACTIVE) - Details

See Senate Version of this Bill:
S4171
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §§606 & 601, Tax L; add §§99-t & 99-u, St Fin L

2011-A7673 (ACTIVE) - Summary

Relates to creating the middle class circuit breaker tax credit; to amend the tax law, in relation to person income tax; to amend the state finance law, in relation to establishing the real property tax circuit breaker account and the education financing account; and directing the commissioner of taxation and finance to adjust certain withholding tables and methods.

2011-A7673 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7673

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                              May 12, 2011
                               ___________

Introduced by M. of A. JAFFEE, JEFFRIES -- read once and referred to the
  Committee on Ways and Means

AN  ACT  to  amend  the  tax law, in relation to personal income tax; to
  amend the state finance law, in  relation  to  establishing  the  real
  property  tax  circuit  breaker  account  and  the education financing
  account; and directing the commissioner of  taxation  and  finance  to
  adjust certain withholding tables and methods

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
subsection (ss) to read as follows:
  (SS)  MIDDLE  CLASS  CIRCUIT  BREAKER CREDIT. (1) DEFINITIONS. FOR THE
PURPOSES OF THIS SUBSECTION:
  (A) "QUALIFIED TAXPAYER" MEANS A RESIDENT INDIVIDUAL OF THE STATE  WHO
OWNS  OR RENTS THE RESIDENTIAL REAL PROPERTY IN WHICH HE OR SHE RESIDES,
AND HAS RESIDED IN SUCH RESIDENTIAL REAL PROPERTY FOR NOT LESS THAN FIVE
YEARS.  THE DEPARTMENT MAY REQUIRE SUCH PROOF AS IT DEEMS  NECESSARY  TO
ESTABLISH  CRITERIA  SUFFICIENT TO DEMONSTRATE THAT A TAXPAYER MEETS AND
HAS MET THESE QUALIFICATIONS FOR  A  PERIOD  OF  AT  LEAST  FIVE  YEARS.
EVIDENCE  OF RESIDENCE SHALL REQUIRE THE TAXPAYER TO HAVE RESIDED ON THE
RESIDENTIAL PROPERTY AT LEAST ONE HUNDRED NINETY DAYS A YEAR AND, UNLESS
GOOD CAUSE IS SHOWN PURSUANT TO A DETERMINATION OF THE COMMISSIONER,  TO
HAVE  LIVED  AT SUCH RESIDENCE AT LEAST ONE HUNDRED TWENTY DAYS PER YEAR
CONSECUTIVELY FOR EACH OF THOSE YEARS. EVIDENCE MAY ALSO INCLUDE, BUT IS
NOT LIMITED TO, DRIVER'S LICENSE, WORKPLACE LOCATION  IN  COMPARISON  TO
OTHER PROPERTY WHERE SUCH TAXPAYER MAY RESIDE AT OR BE DOMICILED AT, AND
VOTER REGISTRATION STATUS.
  (B)  "HOUSEHOLD"  OR  "MEMBERS  OF  THE  HOUSEHOLD"  MEANS A QUALIFIED
TAXPAYER OR QUALIFIED TAXPAYERS AND ALL OTHER PERSONS,  NOT  NECESSARILY
RELATED,  WHO  ALL  RESIDE IN THE RESIDENTIAL REAL PROPERTY OWNED BY THE
TAXPAYER OR TAXPAYERS, AND SHARE ITS FURNISHINGS, FACILITIES AND  ACCOM-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10316-02-1
              

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