New York S 5850: Removes post-retirement earnings restrictions for New York city department of corrections uniformed personnel

Bill Text

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S05850 Summary:

BILL NOS05850 

&nbsp

SAME ASSAME AS A00666

&nbsp

SPONSORSKOUFIS

&nbsp

COSPNSR

&nbsp

MLTSPNSR

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Amd §425, RPT L; amd §606, Tax L

&nbsp

Includes distribution from a thrift savings plan in the definition of income in relation to the enhanced STAR exemption.

Go to top S05850 Actions:

BILL NOS05850 

&nbsp

03/03/2025REFERRED TO FINANCE

01/07/2026REFERRED TO FINANCE

Go to topS05850 Committee&nbspVotes:

Go to topS05850 Floor&nbspVotes:

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

Go to topS05850 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5850

 2025-2026 Regular Sessions

 IN SENATE

 March 3, 2025
 ___________

 Introduced by Sen. SKOUFIS -- read twice and ordered printed, and when
 printed to be committed to the Committee on Finance

 AN ACT to amend the real property tax law and the tax law, in relation
 to the definition of income in relation to the enhanced STAR exemption

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

 1 Section 1. Subparagraph (ii) of paragraph (b) of subdivision 4 of
 2 section 425 of the real property tax law, as amended by section 1 of
 3 part B of chapter 59 of the laws of 2018, is amended to read as follows:
 4 (ii) The term "income" as used herein shall mean the "adjusted gross
 5 income" for federal income tax purposes as reported on the applicant's
 6 federal or state income tax return for the applicable income tax year,
 7 subject to any subsequent amendments or revisions, reduced by distrib-
 8 utions, to the extent included in federal adjusted gross income,
 9 received from an individual retirement account and an individual retire-
 10 ment annuity, and distribution from a thrift savings plan established
 11 prior to January first, nineteen hundred eighty-four; provided that if
 12 no such return was filed for the applicable income tax year, "income"
 13 shall mean the adjusted gross income that would have been so reported if
 14 such a return had been filed. Provided further, that effective with
 15 exemption applications for final assessment rolls to be completed in two
 16 thousand nineteen, where an income-eligibility determination is wholly
 17 or partly based upon the income of one or more individuals who did not
 18 file a return for the applicable income tax year, then in order for the
 19 application to be considered complete, each such individual must file a
 20 statement with the department showing the source or sources of [his or
 21 her] the individual's income for that income tax year, and the amount or
 22 amounts thereof, that would have been reported on such a return if one
 23 had been filed. Such statement shall be filed at such time, and in such
 24 form and manner, as may be prescribed by the department, and shall be
 25 subject to the secrecy provisions of the tax law to the same extent that

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00253-01-5

 S. 5850 2

 1 a personal income tax return would be. The department shall make such
 2 forms and instructions available for the filing of such statements. The
 3 local assessor shall upon the request of a taxpayer assist such taxpayer
 4 in the filing of the statement with the department.
 5 § 2. Subparagraph (B) of paragraph 1 of subsection (eee) of section
 6 606 of the tax law, as amended by section 10 of part B of chapter 59 of
 7 the laws of 2018, is amended to read as follows:
 8 (B) "Affiliated income" shall mean for purposes of the basic STAR
 9 credit, the combined income of all of the owners of the parcel who
 10 resided primarily thereon as of December thirty-first of the taxable
 11 year, and of any owners' spouses residing primarily thereon as of such
 12 date, and for purposes of the enhanced STAR credit, the combined income
 13 of all of the owners of the parcel as of December thirty-first of the
 14 taxable year, and of any owners' spouses residing primarily thereon as
 15 of such date; provided that for both purposes the income to be so
 16 combined shall be the "adjusted gross income" for the taxable year as
 17 reported for federal income tax purposes, or that would be reported as
 18 adjusted gross income if a