New York S 1868: Requires rent concessions to be reported to the division of housing and community renewal

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S01868 Summary:

BILL NOS01868 

&nbsp

SAME ASSAME AS A00515

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SPONSORASHBY

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COSPNSRGALLIVAN, TEDISCO, WEBER

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MLTSPNSR

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Add §458-d, RPT L

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Provides a tax exemption for U.S. military reservists and members of the National Guard.

Go to top S01868 Actions:

BILL NOS01868 

&nbsp

01/14/2025REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS

01/07/2026REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS

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Go to topS01868 Floor&nbspVotes:

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

Go to topS01868 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1868

 2025-2026 Regular Sessions

 IN SENATE

 January 14, 2025
 ___________

 Introduced by Sens. ASHBY, GALLIVAN -- read twice and ordered printed,
 and when printed to be committed to the Committee on Veterans, Home-
 land Security and Military Affairs

 AN ACT to amend the real property tax law, in relation to permitting
 municipalities the local option of providing a tax exemption to
 National Guard members and reservists

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

 1 Section 1. The real property tax law is amended by adding a new
 2 section 458-d to read as follows:
 3 § 458-d. Exemption for National Guard members and reservists. 1. As
 4 used in this section:
 5 (a) "Qualified owner" means an active or retired member of the
 6 National Guard or Reserves. Where property is owned by more than one
 7 qualified owner, the exemption to which each is entitled may be
 8 combined.
 9 (b) "Qualifying residential real property" means property owned by a
 10 qualified owner which is used exclusively for residential purposes;
 11 provided however, that in the event any portion of such property is not
 12 so used exclusively for residential purposes but is used for other
 13 purposes, such portion shall be subject to taxation and the remaining
 14 portion only shall be entitled to the exemption provided by this
 15 section. Such property must be the primary residence of the qualified
 16 owner, unless the qualified owner is absent from the property due to
 17 medical reasons or institutionalization.
 18 (c) "Municipality" means a county, town, city or village.
 19 2. The governing body of any municipality acting through its local
 20 legislative body or other governing agency, is hereby authorized and
 21 empowered to adopt and amend local laws or ordinances providing that
 22 qualifying real property may be exempt from real property taxes, in an
 23 amount equal to five percent of the assessed value of such property.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01967-01-5

 S. 1868 2

 1 Such exemption shall not be in addition to any other military exemption
 2 or abatement of taxes authorized by law.
 3 3. Such exemption from taxation shall be granted upon an application
 4 which shall include a statement that a qualified owner resides at the
 5 property. Application shall be made annually upon a form to be promul-
 6 gated by the commissioner and shall include a copy of the qualified
 7 owner's twenty-year favorable service letter from the United States
 8 department of defense. The application and twenty-year favorable service
 9 letter shall be filed by the qualified owner to the assessor of such
 10 municipality which has the power to assess property for taxation on or
 11 before the appropriate taxable status date of such municipality. If the
 12 assessor is satisfied that the property is qualified for an exemption
 13 pursuant to this section, then such residential improvements shall be
 14 exempt from taxation as provided in subdivision two of this section.
 15 § 2. This act shall take effect immediately.

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