New York S05850 amends the definition of income for the enhanced STAR exemption to include distributions from a thrift savings plan.

New York S05850 amends the real property tax law and the tax law to redefine "income" for the enhanced STAR exemption. It includes distributions from a thrift savings plan established before January 1, 1984, in the definition of income. The bill also requires individuals who did not file a federal or state income tax return for the applicable tax year to file a statement with the department showing their income sources and amounts. This act takes effect on January 1 of the year following its enactment.

New York S05850 amends the definition of income for the enhanced STAR exemption to include distributions from a thrift savings plan.

New York S05850 amends the real property tax law and the tax law to redefine "income" for the enhanced STAR exemption. It includes distributions from a thrift savings plan established before January 1, 1984, in the definition of income. The bill also requires individuals who did not file a federal or state income tax return for the applicable tax year to file a statement with the department showing their income sources and amounts. This act takes effect on January 1 of the year following its enactment.