New York S03082 amends the definition of "income" for school tax relief exemption and adds 401(k) and 403(b) accounts to eligible income deductions.

New York S03082 modifies the definition of "income" for purposes of the school tax relief exemption. It specifies that "income" means the "adjusted gross income" for federal income tax purposes, subject to certain conditions. The bill also adds 401(k) and 403(b) accounts to the list of eligible income deductions when determining Enhanced STAR eligibility. This change applies to exemption applications for final assessment rolls starting in 2019.

New York S03082 amends the definition of "income" for school tax relief exemption and adds 401(k) and 403(b) accounts to eligible income deductions.

New York S03082 modifies the definition of "income" for purposes of the school tax relief exemption. It specifies that "income" means the "adjusted gross income" for federal income tax purposes, subject to certain conditions. The bill also adds 401(k) and 403(b) accounts to the list of eligible income deductions when determining Enhanced STAR eligibility. This change applies to exemption applications for final assessment rolls starting in 2019.