Bill > S03082

This bill modifies the definition of "income" for purposes of the School Tax Relief (STAR) exemption, specifically for Enhanced STAR eligibility. The bill expands the list of income sources that can be deducted when calculating income by adding distributions from 401(k) and 403(b) retirement accounts, alongside existing deductions for individual retirement accounts and individual retirement annuities. The modification also clarifies language around income reporting requirements, particularly for individuals who did not file a tax return for the applicable year. Specifically, such individuals must now file a statement with the department detailing their income sources and amounts, which would have been reported on a tax return. This change aims to provide more clarity and flexibility in how income is calculated for property tax relief purposes, potentially making the Enhanced STAR exemption more accessible to retirees and those with retirement account distributions. The bill will take effect on the first day of January following its enactment.

Health and Social Services

https://www.nysenate.gov/legislation/bills/2025/S3082