New York S 10532: Authorizes Ulster county to establish a property tax offset by means of a resident income tax surcharge

Bill Text

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S10532 Summary:

BILL NOS10532A

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SAME ASSAME AS A11460-A

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SPONSORHINCHEY

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COSPNSR

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MLTSPNSR

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Add Art 30-D §§1360 - 1376, Tax L

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Authorizes Ulster county to establish a property tax offset by means of a resident income tax surcharge; requires the Ulster county legislature to adopt a local law prior to imposing such surcharge.

Go to top S10532 Actions:

BILL NOS10532A

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05/19/2026REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

07/08/2026AMEND AND RECOMMIT TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

07/08/2026PRINT NUMBER 10532A

Go to topS10532 Committee&nbspVotes:

Go to topS10532 Floor&nbspVotes:

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

Go to topS10532 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 10532--A

 IN SENATE

 May 19, 2026
 ___________

 Introduced by Sen. HINCHEY -- read twice and ordered printed, and when
 printed to be committed to the Committee on Investigations and Govern-
 ment Operations -- committee discharged, bill amended, ordered
 reprinted as amended and recommitted to said committee

 AN ACT to amend the tax law, in relation to establishing a property tax
 offset in Ulster county

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

 1 Section 1. The tax law is amended by adding a new article 30-D to read
 2 as follows:
 3 ARTICLE 30-D
 4 ULSTER COUNTY PROPERTY TAX OFFSET
 5 Section 1360. Definitions.
 6 1361. Authority to impose surcharge.
 7 1362. Persons subject to surcharge.
 8 1363. Excess state tax; rate; thresholds.
 9 1364. County resident, county nonresident and part-year county
 10 resident individuals.
 11 1365. Returns and liabilities.
 12 1366. Change of county resident status during taxable year.
 13 1367. Estates and trusts.
 14 1368. Partnerships, limited liability companies, corporations
 15 and exempt entities.
 16 1369. Withholding from wages.
 17 1370. Credit for surcharge withheld; estimated surcharge.
 18 1371. Administration, enforcement, collection and review.
 19 1372. Local law adoption, filing, effective date and repeal.
 20 1373. Deposit and disposition of revenues.
 21 1374. Regulations, forms and guidance.
 22 1375. Severability.
 23 1376. Duration of authority.
 24 § 1360. Definitions. (a) Definitions. For purposes of this article:
 25 (1) "County" means the county of Ulster.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD15934-02-6

 S. 10532--A 2

 1 (2) "Surcharge" means the Ulster county resident income tax surcharge
 2 authorized by this article.
 3 (3) "Taxable year" has the same meaning as in article twenty-two of
 4 this chapter.
 5 (4) "Article twenty-two return" means a New York state personal income
 6 tax return or fiduciary income tax return required under article twen-
 7 ty-two of this chapter.
 8 (5) "Net state tax" means the sum of taxes imposed under article twen-
 9 ty-two of this chapter for the taxable year, less credits allowed under
 10 such article other than withholding and estimated tax payments. In the
 11 case of an estate or trust, net state tax shall not include refundable
 12 credits. Net state tax shall not be less than zero.
 13 (6) "Benchmark state tax" means the amount that would constitute the
 14 taxpayer's net state tax for the taxable year, except that refundable
 15 credits shall not reduce benchmark state tax, determined using the
 16 taxpayer's actual filing status, deductions, exemptions, and nonrefunda-
 17 ble credits otherwise allowable for that taxable year, if New York state
 18 taxable income were deemed equal to the applicable threshold amount and
 19 such other assumptions as the commissioner shall prescribe by regu-
 20 lation.
 21 (7) "Excess state tax" means the excess, if any, of net state tax over
 22 benchmark state tax.
 23 (8) "Applicable threshold amount" means: (A) for an individual not
 24 filing a joint return, two hundred fifty thousand dollars; (B) for indi-
 25 viduals filing a joint return, five hundred thousand dollars; and (C)
 26 for an estate or trust, zero dollars.
 27 (b) Use of terms. Terms used in this article and not otherwise
 28 defined shall have the same meanings as when used in a