Bill Text: NY A05009 | 2009-2010 | General Assembly | Introduced

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Bill Title: An act to amend the tax law, in relation to expanding the applicability of the real property circuit breaker tax credit

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-01-06 - referred to real property taxation [A05009 Detail]

Download: New_York-2009-A05009-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         5009
                              2009-2010 Regular Sessions
                                 I N  A S S E M B L Y
                                   February 10, 2009
                                      ___________
       Introduced by M. of A. V. LOPEZ -- read once and referred to the Commit-
         tee on Real Property Taxation
       AN  ACT to amend the tax law, in relation to expanding the applicability
         of the real property circuit breaker tax credit
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1. Subparagraphs (C) and (D) of paragraph 7 of subsection (e)
    2  of section 606 of the tax law, as amended by chapter 28 of the  laws  of
    3  1987, are amended to read as follows:
    4    (C)  To  a  property  owner  who owns real property, the full value of
    5  which exceeds ONE HUNDRED eighty-five thousand dollars.
    6    (D) To a tenant if the adjusted rent for the residence  exceeds  [four
    7  hundred fifty] SEVEN HUNDRED FIFTY dollars per month on average.
    8    S 2. This act shall take effect immediately and shall apply to taxable
    9  years beginning on or after January 1, 2010.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD08360-01-9