New York S 2023: Provides for the establishment of a separate office of family court judge for the county of Essex

Bill Text

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S02023 Summary:

BILL NOS02023 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORKRUEGER

&nbsp

COSPNSRBAILEY, LIU, SALAZAR

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MLTSPNSR

&nbsp

Amd §606, Tax L

&nbsp

Creates the middle class circuit breaker tax credit allowing a credit against personal income tax, equal to seventy percent of the amount by which the taxpayer's net real property tax or the taxpayer's real property tax equivalent exceeds the taxpayer's maximum real property tax; establishes a tax reform study commission.

Go to top S02023 Actions:

BILL NOS02023 

&nbsp

01/15/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS02023 Committee&nbspVotes:

Go to topS02023 Floor&nbspVotes:

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

Go to topS02023 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 2023

 2025-2026 Regular Sessions

 IN SENATE

 January 15, 2025
 ___________

 Introduced by Sens. KRUEGER, BAILEY, LIU, SALAZAR -- read twice and
 ordered printed, and when printed to be committed to the Committee on
 Budget and Revenue

 AN ACT to amend the tax law, in relation to creating the middle class
 circuit breaker tax credit; and creating a tax reform study commission

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

 1 Section 1. Section 606 of the tax law is amended by adding a new
 2 subsection (bbb) to read as follows:
 3 (bbb) Middle class circuit breaker credit. (1) Definitions. For the
 4 purposes of this subsection:
 5 (A) "Qualified taxpayer" means a resident individual of the state who
 6 owns or rents the residential real property in which the individual
 7 resides, and has resided in such residential real property for not less
 8 than five years.
 9 (B) "Household" or "members of the household" means a qualified
 10 taxpayer or qualified taxpayers and all other persons, not necessarily
 11 related, who all reside in the residential real property owned by the
 12 taxpayer or taxpayers, and share its furnishings, facilities and accom-
 13 modations; provided that no person may be a member of more than one
 14 household at one time.
 15 (C) "Household gross income" means the aggregate adjusted gross income
 16 of all members of the household for the taxable year as reported for
 17 federal income tax purposes, or which would be reported as adjusted
 18 gross income if a federal income tax return were required to be filed,
 19 with the modifications in subsection (b) of section six hundred twelve
 20 of this article but without the modifications in subsection (c) of such
 21 section, plus any portion of the gain from the sale or exchange of prop-
 22 erty otherwise excluded from such amount; earned income from sources
 23 without the United States excludable from federal gross income by
 24 section nine hundred eleven of the internal revenue code; support money

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04715-01-5

 S. 2023 2

 1 not included in adjusted gross income; nontaxable strike benefits;
 2 supplemental security income payments; the gross amount of any pension
 3 or annuity benefits to the extent not included in such adjusted gross
 4 income (including, but not limited to, railroad retirement benefits and
 5 all payments received under the federal social security act and veter-
 6 ans' disability pensions); nontaxable interest received from the state
 7 of New York, its agencies, instrumentalities, public corporations, or
 8 political subdivisions (including a public corporation created pursuant
 9 to agreement or compact with another state or Canada); workers' compen-
 10 sation; the gross amount of "loss-of-time" insurance; and the amount of
 11 cash public assistance and relief, other than medical assistance for the
 12 needy, paid to or for the benefit of the qualified taxpayer or members
 13 of the taxpayer's household. Household gross income shall not include
 14 surplus foods or other relief in kind or payments made to individuals
 15 because of their status as victims of Nazi persecution as defined in
 16 public law 103-286 or any disability compensation received by veterans
 17 on account of injury or illness incurred or aggravated during milita