Establishes a middle class circuit breaker tax credit and a tax reform study commission.

New York Assembly Bill A10575 creates a middle class circuit breaker tax credit, providing a credit against personal income tax equal to seventy percent of the amount by which the taxpayer's net real property tax or the taxpayer's real property tax equivalent exceeds the taxpayer's maximum real property tax. The bill also establishes a tax reform study commission to review and recommend changes to the definitions of income used in various property tax relief programs.

Establishes a middle class circuit breaker tax credit and a tax reform study commission.

New York Assembly Bill A10575 creates a middle class circuit breaker tax credit, providing a credit against personal income tax equal to seventy percent of the amount by which the taxpayer's net real property tax or the taxpayer's real property tax equivalent exceeds the taxpayer's maximum real property tax. The bill also establishes a tax reform study commission to review and recommend changes to the definitions of income used in various property tax relief programs.