New York A 7504: Relates to enacting the "N.Y. state digital equity plan act"

Bill Text

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A07504 Summary:

BILL NOA07504 

&nbsp

SAME ASSAME AS S01559

&nbsp

SPONSORBrabenec

&nbsp

COSPNSRDurso, DeStefano, Slater, Smith, Giglio, Maher

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MLTSPNSR

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Amd §§425 & 1306-a, RPT L; amd §601, Tax L

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Enacts the "Affordable NY act"; increases the STAR exemptions; adjusts personal income tax rates.

Go to top A07504 Actions:

BILL NOA07504 

&nbsp

03/28/2025referred to real property taxation

01/07/2026referred to real property taxation

Go to topA07504 Committee&nbspVotes:

Go to topA07504 Floor&nbspVotes:

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

Go to topA07504 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7504

 2025-2026 Regular Sessions

 IN ASSEMBLY

 March 28, 2025
 ___________

 Introduced by M. of A. BRABENEC -- read once and referred to the Commit-
 tee on Real Property Taxation

 AN ACT to amend the real property tax law, in relation to increasing the
 base figure for the STAR exemption (Part A); and to amend the tax law,
 in relation to adjusting certain rates for the imposition of personal
 income tax (Part B)

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

 1 Section 1. This act enacts into law components of legislation relating
 2 to the "Affordable NY act". Each component is wholly contained within a
 3 Part identified as Parts A through B. The effective date for each
 4 particular provision contained within such Part is set forth in the last
 5 section of such Part. Any provision in any section contained within a
 6 Part, including the effective date of the Part, which makes a reference
 7 to a section "of this act", when used in connection with that particular
 8 component, shall be deemed to mean and refer to the corresponding
 9 section of the Part in which it is found. Section three of this act sets
 10 forth the general effective date of this act.

 11 PART A

 12 Section 1. Subparagraph (vi) of paragraph (b) of subdivision 2 of
 13 section 425 of the real property tax law, as added by section 1 of part
 14 D-1 of chapter 57 of the laws of 2007, clause (A) as further amended by
 15 subdivision (b) of section 1 of part W of chapter 56 of the laws of
 16 2010, is amended to read as follows:
 17 (vi) For the two thousand nine--two thousand ten school year [and
 18 thereafter] through the two thousand twenty-five--two thousand twenty-
 19 six school year:
 20 (A) The base figure for the enhanced STAR exemption shall equal the
 21 prior year's base figure multiplied by the percentage increase in the

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04378-01-5

 A. 7504 2

 1 consumer price index for urban wage earners and clerical workers (CPI-W)
 2 published by the United States department of labor, bureau of labor
 3 statistics, for the third quarter of the calendar year preceding the
 4 applicable school year, as compared to the third quarter of the prior
 5 calendar year. If a base figure as so determined is not exactly equal to
 6 a multiple of one hundred dollars, it shall be rounded to the nearest
 7 multiple of one hundred dollars. It shall be the responsibility of the
 8 commissioner to annually determine such base figures.
 9 (B) The base figure for the basic STAR exemption shall be thirty thou-
 10 sand dollars.
 11 § 2. Paragraph (b) of subdivision 2 of section 425 of the real proper-
 12 ty tax law is amended by adding a new subparagraph (vii) to read as
 13 follows:
 14 (vii) For the two thousand twenty-five--two thousand twenty-six school
 15 year and thereafter:
 16 (A) The base figure for the enhanced STAR exemption shall equal the
 17 prior year's base figure multiplied by the percentage increase in the
 18 consumer price index for urban wage earners and clerical workers (CPI-W)
 19 published by the United States department of labor, bureau of labor
 20 statistics, for the third quarter of the calendar year preceding the
 21 applicable school year, as compared to the third quarter of the prior
 22 calendar year, multiplied by two. If a base figure as so determined is
 23 not exactly equal to a multiple of one hundred dollars, it shall be
 24 rounded to the nearest multiple of one hundred dollars. It sha