New York S 8053: Establishes the sustainable affordable housing incentive program

Bill Text

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S08053 Summary:

BILL NOS08053 

&nbsp

SAME ASSAME AS A08748

&nbsp

SPONSORASHBY

&nbsp

COSPNSRMATTERA

&nbsp

MLTSPNSR

&nbsp

Amd §1000, R & SS L

&nbsp

Exempts certain military service credit from being included in calculations of up to three years of military service credit for a public retirement system of the state.

Go to top S08053 Actions:

BILL NOS08053 

&nbsp

05/15/2025REFERRED TO CIVIL SERVICE AND PENSIONS

01/07/2026REFERRED TO CIVIL SERVICE AND PENSIONS

Go to topS08053 Committee&nbspVotes:

Go to topS08053 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS08053 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8053

 2025-2026 Regular Sessions

 IN SENATE

 May 15, 2025
 ___________

 Introduced by Sen. ASHBY -- read twice and ordered printed, and when
 printed to be committed to the Committee on Civil Service and Pensions

 AN ACT to amend the retirement and social security law, in relation to
 military service qualifying for military service credit

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivisions 1 and 4 of section 1000 of the retirement and
 2 social security law, subdivision 1 as amended by chapter 585 of the laws
 3 of 2022 and subdivision 4 as amended by chapter 41 of the laws of 2016,
 4 are amended to read as follows:
 5 1. A member, upon application to such retirement system, may obtain a
 6 total not to exceed three years of service credit for up to three years
 7 of military duty, as defined in section two hundred forty-three of the
 8 military law, if the member (a) was honorably discharged from the mili-
 9 tary, or (b) has a qualifying condition, as defined in section [three
 10 hundred fifty] one of the [executive] veterans' services law, and has
 11 received a discharge other than bad conduct or dishonorable from such
 12 service, or (c) is a discharged LGBT veteran, as defined in section
 13 [three hundred fifty] one of the [executive] veterans' services law, and
 14 has received a discharge other than bad conduct or dishonorable from
 15 such service.
 16 4. In no event shall the credit granted pursuant to this section, when
 17 added to credit granted for military service with any retirement system
 18 of this state pursuant to this or any other provision of law, excluding
 19 service credit granted under section two hundred forty-two of the mili-
 20 tary law, exceed a total of three years.
 21 § 2. This act shall take effect immediately.
 FISCAL NOTE.--Pursuant to Legislative Law, Section 50:
 This bill amends Section 1000 of the Retirement and Social Security
 Law to reference Section 1 of the Veterans' Services Law for the defi-
 nitions of qualifying condition and discharged LGBT veteran. It would

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08369-03-5

 S. 8053 2

 also exempt service credit granted under Section 242 of the Military Law
 from the three-year limit on military service which can be purchased as
 service credit.
 It is not possible to determine the number of eligible current and
 future members, or the additional military service credit each member
 may purchase under this bill. Therefore, it is not possible to estimate
 the annual increase in the employers' cost for this bill. Whatever
 increase in liability arises for service credited under this bill above
 that paid for by the member would be included in the cost that would be
 shared by employers through the employer contribution rate.
 It is estimated that the cost, expressed as a percentage of a member's
 salary for the additional year of service credit a member purchases
 under this bill is as follows:

 Cost per year of Service Purchased
 (as a percentage of the member's salary)
 Tier(s) 1-4 5 6
 Cost 12.5% 11.2% 9.7%
 Member Contribution offset 3.0% 3.0% 6.0%
 Net cost to participating employers 9.5% 8.2% 3.7%

 Member data is from the System's most recent actuarial valuation files
 as of June 30, 2024, consisting of data provided by the employers to the
 Retirement System. The most recent data distributions and statistics can
 be found in the System's Annual Report for fiscal year ended June 30,
 2024. Syste