Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 04, 2012 |
referred to cities |
Jun 10, 2011 |
print number 8271a |
Jun 10, 2011 |
amend and recommit to cities |
Jun 09, 2011 |
referred to cities |
Assembly Bill A8271
2011-2012 Legislative Session
Sponsored By
TITONE
Archive: Last Bill Status - In Assembly 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
Bill Amendments
2011-A8271 - Details
2011-A8271 - Summary
Confirms eligibility for and directs the New York city department of finance to provide exemption from taxation for certain residential dwelling units in the county of Richmond; provides that the exemption benefits shall be based upon all increases in assessed valuation, whether they are physical or equalization increases; sets forth the annual exemption benefits; provides that all exemption benefits prior to the current tax year shall result in credits to be applied to future taxes
2011-A8271 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 5669 A. 8271 2011-2012 Regular Sessions S E N A T E - A S S E M B L Y June 9, 2011 ___________ IN SENATE -- Introduced by Sen. SAVINO -- read twice and ordered print- ed, and when printed to be committed to the Committee on Cities IN ASSEMBLY -- Introduced by M. of A. TITONE -- read once and referred to the Committee on Cities AN ACT to confirm eligibility for and direct the New York city depart- ment of finance to provide exemption from taxation of certain residen- tial dwelling units in the county of Richmond THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. 1. Notwithstanding any law, rule or regulation to the contrary, where certificates of eligibility for moderate rehabilitation with enriched benefits were issued by the New York city department of housing preservation and development on July 28, 2000 and January 30, 2002 for alterations and improvements constructed between 1997 and 2000 with regard to a group of eight class A multiple dwellings reflected on three separate tax lots, comprised of eleven hundred or more residential rental units located on the same residential street in the county of Richmond, exclusively occupied by low income tenants receiving benefits under section 8 of the United States housing act of 1937 whose incomes do not exceed 50 percent of the area median income, which are subject to a 50-year use agreement pursuant to the United States low-income housing preservation and resident homeownership act of 1990 and funded by at least 10 million dollars of federal subsidies, each such tax lot shall be exempt from taxation for local purposes for 34 years under section 489 of the real property tax law and section 11-243 of the administra- tive code of the city of New York. The New York city department of finance is hereby directed to comply with the provisions of this section. 2. For tax lots granted benefits under this section pursuant to certificates of eligibility issued on July 28, 2000, exemption benefits EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13009-02-1
2011-A8271A (ACTIVE) - Details
2011-A8271A (ACTIVE) - Summary
Confirms eligibility for and directs the New York city department of finance to provide exemption from taxation for certain residential dwelling units in the county of Richmond; provides that the exemption benefits shall be based upon all increases in assessed valuation, whether they are physical or equalization increases; sets forth the annual exemption benefits; provides that all exemption benefits prior to the current tax year shall result in credits to be applied to future taxes
2011-A8271A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 5669--A A. 8271--A 2011-2012 Regular Sessions S E N A T E - A S S E M B L Y June 9, 2011 ___________ IN SENATE -- Introduced by Sen. SAVINO -- read twice and ordered print- ed, and when printed to be committed to the Committee on Cities -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee IN ASSEMBLY -- Introduced by M. of A. TITONE -- read once and referred to the Committee on Cities -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to confirm eligibility for and direct the New York city depart- ment of finance to provide exemption from taxation of certain residen- tial dwelling units in the county of Richmond THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. 1. Notwithstanding any law, rule or regulation to the contrary, where certificates of eligibility for moderate rehabilitation with enriched benefits were issued by the New York city department of housing preservation and development on July 28, 2000 and January 30, 2002 for alterations and improvements constructed between 1997 and 2000 with regard to a group of eight class A multiple dwellings reflected on three separate tax lots, comprised of eleven hundred or more residential rental units located on the same residential street in the county of Richmond, exclusively occupied by low income tenants receiving benefits under section 8 of the United States housing act of 1937 whose incomes do not exceed 50 percent of the area median income, which are subject to a 50-year use agreement pursuant to the United States low-income housing preservation and resident homeownership act of 1990 and funded by at least 10 million dollars of federal subsidies, each such tax lot shall be exempt from taxation for local purposes for 34 years under section 489 of the real property tax law and section 11-243 of the administra- tive code of the city of New York. The New York city department of EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13009-04-1
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