New York S 3504: Relates to the redomestication of insurance companies

Bill Text

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S03504 Summary:

BILL NOS03504 

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SAME ASSAME AS A02369

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SPONSORWEIK

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COSPNSR

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MLTSPNSR

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Add §458-d, RPT L

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Provides real property tax relief to veterans who have at least ten years of service in the U.S. armed forces or in the organized militia of the state of New York.

Go to top S03504 Actions:

BILL NOS03504 

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01/28/2025REFERRED TO VETERANS, HOMELAND SECURITY AND MILITARY AFFAIRS

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

Go to topS03504 Committee&nbspVotes:

Go to topS03504 Floor&nbspVotes:

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

Go to topS03504 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 3504

 2025-2026 Regular Sessions

 IN SENATE

 January 28, 2025
 ___________

 Introduced by Sen. WEIK -- read twice and ordered printed, and when
 printed to be committed to the Committee on Veterans, Homeland Securi-
 ty and Military Affairs

 AN ACT to amend the real property tax law, in relation to providing real
 property tax relief to certain veterans

 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. Reservists; local property tax credit. 1. A county, city,
 4 town or village in this state may adopt a local law to provide qualify-
 5 ing residential real property a real property tax credit of up to four
 6 hundred dollars for the purpose of recognizing the service of residents
 7 of this state who have served in the military reserves of the United
 8 States or of the organized militia of the state of New York. Where qual-
 9 ifying residential real property is owned by more than one qualified
 10 owner, the real property tax credit to which each such owner is entitled
 11 under this section may be combined. Where a reservist is also the non-
 12 remarried surviving spouse of another reservist, such surviving spouse
 13 may receive any real property tax credit under this section to which
 14 such surviving spouse's deceased spouse was entitled, in addition to the
 15 real property tax credit such surviving spouse is themselves entitled
 16 under this section.
 17 2. An assessor shall apply the real property tax credit under subdivi-
 18 sion one of this section, as authorized by a municipality, to a qualify-
 19 ing owner's village, town, county and special district taxes.
 20 3. The real property tax credit under this section shall only be
 21 applied to county, city, town, village and special district taxes.
 22 4. If a qualified owner is already receiving an exemption under
 23 section four hundred fifty-eight, four hundred fifty-eight-a, or four

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04540-01-5

 S. 3504 2

 1 hundred fifty-eight-b of this title, such qualifying owner shall not be
 2 eligible for the real property tax credit under this section.
 3 5. The commissioner of the department of taxation and finance shall
 4 develop a uniform application for use by local assessors for the real
 5 property tax credit under this section, and shall publish any related
 6 materials to support the use of such real property tax credit on its
 7 public website.
 8 6. For the purposes of this section, the following terms shall have
 9 the following meanings:
 10 (a) "Reservist" means any person who is or has been a member of the
 11 armed forces of the United States who served in the Army, Navy, Air
 12 Force, Marine Corps, Coast Guard or any reserve force or reserve compo-
 13 nent of the armed forces of the United States, or of the organized mili-
 14 tia of the state of New York, provided that such person is either a
 15 member in good standing, or has received a discharge under honorable or
 16 general conditions, after no less than ten years of service.
 17 (b) "Qualified owner" means a reservist, the spouse of a reservist, or
 18 the non-remarried surviving spouse of a reservist.
 19 (c) "Qualified residential real property" means property owned by a
 20 qualified owner which is used exclusively for residential purposes;
 21 provided, however, that in the event any portion of su