Bill Text: NY A05234 | 2019-2020 | General Assembly | Introduced

New York Assembly Bill 5234 (Prior Session Legislation)

Introduced

Bill Title: Creates a tax deduction for real property taxes and local taxes, except sales tax.

Spectrum: Strong Partisan Bill (Republican 10-1)

Status: (Introduced - Dead) 2020-01-06 - enacting clause stricken [A05234 Detail]

Download: New_York-2019-A05234-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          5234
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    February 7, 2019
                                       ___________
        Introduced by M. of A. RAIA, MONTESANO, RA, MORINELLO, LAWRENCE, GARBAR-
          INO,  M. G. MILLER,  GOODELL, BLANKENBUSH -- read once and referred to
          the Committee on Ways and Means
        AN ACT to amend the tax law, in relation to creating a tax deduction for
          real property taxes and local taxes, except sales tax
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1. Subsection (c) of section 612 of the tax law is amended by
     2  adding a new paragraph 44 to read as follows:
     3    (44) Only in the event that real property taxes paid on  a  taxpayer's
     4  property  and  local taxes, except sales tax, are not authorized federal
     5  itemized deductions for the entire amount of taxes paid, the amount paid
     6  in real property taxes and local taxes, except sales tax, for the  taxa-
     7  ble year.
     8    §  2.  This  act  shall take effect immediately and shall apply to the
     9  taxable year in which it takes effect and to subsequent taxable years.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07961-01-9