Bill S3903A-2013

Authorizes school tax reductions for residents in certain communities

Authorizes school tax reductions of 25% for residents in communities that restrict ownership to those fifty-five years of age and older.

Details

Actions

  • Jan 30, 2014: PRINT NUMBER 3903A
  • Jan 30, 2014: AMEND AND RECOMMIT TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • Jan 8, 2014: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
  • Feb 26, 2013: REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

Memo

BILL NUMBER:S3903A

TITLE OF BILL: An act to amend the tax law, in relation to school tax reductions for residents in communities that restrict ownership to those fifty-five years of age and older

PURPOSE: Provides for a 25% reduction in school districts to residents of age restricted communities upon the approval of the local town or village.

SUMMARY OF PROVISIONS: Adds a new § 1232 to the Tax Law. This section allows any community where zoning regulations restrict ownership to those 55 years of age and older, the residents, a 25% reduction in school taxes upon approval by the local town or village.

JUSTIFICATION: Residents of age restricted communities rarely have children of school age living on their premises and do not burden the school district representing the surrounding communities. This legislation provides limited school tax relief to these taxpayers in light of the fact that they do not burden the school district.

LEGISLATIVE HISTORY: 2012: S.6227

FISCAL IMPLICATIONS: None.

EFFECTIVE DATE: This act shall take effect on the thirtieth day after it shall have become a law and shall apply to taxable years beginning on or after January 1, 2015.


Text

STATE OF NEW YORK ________________________________________________________________________ 3903--A 2013-2014 Regular Sessions IN SENATE February 26, 2013 ___________
Introduced by Sen. HANNON -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations -- recommitted to the Committee on Investigations and Government Operations in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law, in relation to school tax reductions for residents in communities that restrict ownership to those fifty-five years of age and older THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The tax law is amended by adding a new section 1232 to read as follows: S 1232. SCHOOL TAX REDUCTION. IN ANY COMMUNITY WHERE ZONING REGU- LATIONS RESTRICT OWNERSHIP TO THOSE FIFTY-FIVE YEARS OF AGE AND OLDER, SUCH RESIDENTS SHALL BE ELIGIBLE FOR A TWENTY-FIVE PERCENT REDUCTION IN SCHOOL TAXES UPON APPROVAL BY THE LOCAL TOWN OR VILLAGE. S 2. This act shall take effect on the thirtieth day after it shall have become a law and shall apply to taxable years beginning on or after January 1, 2015.

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