Authorizes Ulster county to establish a property tax offset by means of a resident income tax surcharge; requires the Ulster county legislature to adopt a local law prior to imposing such surcharge.

This bill allows Ulster County to impose a new income tax surcharge on its residents. The surcharge would be 18.75% of a resident's "excess state tax," which is the amount of state income tax paid above certain income thresholds ($250,000 for individuals, $500,000 for joint filers). The state tax department would administer and collect this surcharge.

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