Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2010 |
referred to energy and telecommunications |
Jan 28, 2009 |
referred to energy and telecommunications |
Senate Bill S1243
2009-2010 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Energy And Telecommunications Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
(D) Senate District
2009-S1243 (ACTIVE) - Details
- Current Committee:
- Senate Energy And Telecommunications
- Law Section:
- Tax Law
- Laws Affected:
- Amd ยง1115, Tax L
2009-S1243 (ACTIVE) - Summary
Allows certain tax exemptions within the central Buffalo housing district; allows any property sold to an owner-occupant contractor, subcontractor or repairperson for use in erecting a building or improving existing property within the central Buffalo housing district to be exempt from sales tax.
2009-S1243 (ACTIVE) - Sponsor Memo
BILL NUMBER: S1243 TITLE OF BILL : An act to amend the tax law, in relation to allowing certain tax exemptions within the central Buffalo housing district PURPOSE OF BILL : To provide a tax exemption for property owner's, who invest in building or improving their residential or business property, within the Central Buffalo Housing District. SUMMARY OF PROVISIONS : Section 1 Subdivision (a) of section 1115 of the tax law is amended by adding a new paragraph 15-a to read as follows: 15-a Tax exemption for certain residential properties within the Buffalo development zone. Section 2. Effective date. JUSTIFICATION : This bill would add another tax incentive for property owners who invest in the improvements of their properties within the Central Buffalo Housing District. This zone is primarily made up of neighborhoods that are experiencing difficult socio-economic
2009-S1243 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1243 2009-2010 Regular Sessions I N S E N A T E January 28, 2009 ___________ Introduced by Sens. THOMPSON, ONORATO -- read twice and ordered printed, and when printed to be committed to the Committee on Energy and Tele- communications AN ACT to amend the tax law, in relation to allowing certain tax exemptions within the central Buffalo housing district THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision (a) of section 1115 of the tax law is amended by adding a new paragraph 15-a to read as follows: (15-A) ANY REAL PROPERTY OR PROPERTY SOLD TO A CONTRACTOR, SUBCONTRAC- TOR OR REPAIRPERSON FOR USE IN (I) ERECTING A STRUCTURE OR BUILDING WITHIN THE CENTRAL BUFFALO HOUSING DISTRICT, AS DESCRIBED IN SUBDIVISION SEVEN OF SECTION FOUR HUNDRED TWENTY-ONE-P OF THE REAL PROPERTY TAX LAW, AS ADDED BY A CHAPTER OF THE LAWS OF TWO THOUSAND NINE, ENTITLED "AN ACT TO AMEND THE REAL PROPERTY TAX LAW, IN RELATION TO CREATING THE CENTRAL BUFFALO HOUSING DISTRICT AND ALLOWING CERTAIN TAX EXEMPTIONS AND ABATE- MENTS WITHIN SUCH DISTRICT", IN WHICH SUCH CONTRACTOR, SUBCONTRACTOR OR REPAIRPERSON SHALL OCCUPY OR (II) ADDING TO, ALTERING OR IMPROVING EXISTING REAL PROPERTY OR PROPERTY, WITHIN THE CENTRAL BUFFALO HOUSING DISTRICT, AS THE TERM REAL PROPERTY AND PROPERTY ARE DEFINED IN THE REAL PROPERTY TAX LAW, IN WHICH SUCH CONTRACTOR, SUBCONTRACTOR OR REPAIRPER- SON SHALL OCCUPY; PROVIDED, HOWEVER, NO EXEMPTION SHALL EXIST UNDER THIS PARAGRAPH UNLESS SUCH ERECTION, ADDITION, ALTERATION OR IMPROVEMENT TO SUCH REAL PROPERTY OR PROPERTY CONSTITUTES A SIGNIFICANT IMPROVEMENT TO SUCH REAL PROPERTY OR PROPERTY. S 2. This act shall take effect on the same date as a chapter of the laws of 2009 entitled "AN ACT to amend the real property tax law, in relation to creating the central Buffalo housing district and allowing certain tax exemptions and abatements within such district" takes effect, and shall apply to tax years and taxable status dates beginning on or after January 1, 2010; provided, however, that effective imme- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05224-02-9
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