Increases credits against taxes imposed on the transfer of the New York estate by every deceased individual who at his or her death was a resident of New York state by setting the basic exclusion amount to $11,200,000.
Prohibits the city of New York from increasing property taxes where a property's assessed value has decreased in the previous year; applies only to class one and class two properties.
Prohibits the city of New York from increasing property taxes where a property's assessed value has decreased in the previous year; applies only to class one and class two properties.
Modifies the term "reportable business relationship" as it relates to certain employees of the state university of New York and the city university of New York where their only form of state employment is with the state university of New York or city university of New York.