Establishes the retire strong tax credit for certain individuals age 65 or older

Showing the cosponsors who are on Agora, A to Z. The official record may list more.

• Republican3

Shown in neutral colors by design; Agora is non-partisan.

◆ The sponsor's argument

Why Jake Ashby says this is needed

Since 2020, New York State has lost over a half-million residents. This staggering statistic is only one of many which speak to the clearly present demographic issue that our state currently possesses. New York retirees, no matter how zealous, are no longer able to ignore the obsta- cles which force them to flee the state they once enjoyed and resided in. The most towering of these problems are the high property taxes that retired seniors are having even more trouble paying now due to nation- wide inflation. Individuals above the age of 65 are reassessing their retirement plans, and many come to the same conclusion that it would be economically wiser to move to another state than to stay in New York State. In 2022, more people fled from New York to Florida than any year in history. It would not be erroneous to assume that a majority of those previous residents are either retired or plan to retire soon, and see a better future for themselves somewhere with more enticing tax policies. This is why creating a property tax credit for individuals 65 years of age and older would incentive our older population to stay in this state, as well as enable them to maintain the steady retirement plans our hard working retirees deserve.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.