NY State Senate Bill 2011-S5186

Archive: Last Bill Status - In Senate Committee Local Government 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

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 04, 2012	referred to local government
Jun 13, 2011	print number 5186b
Jun 13, 2011	amend and recommit to local government
May 06, 2011	print number 5186a
May 06, 2011	amend (t) and recommit to local government
May 03, 2011	referred to local government

Bill Amendments

Original

B (Active)

2011-S5186 - Details

Current Committee:: Senate Local Government
Law Section:: Real Property Tax Law
Laws Affected:: Add §485-n, RPT L

2011-S5186 - Summary

Establishes a residential-commercial real property tax exemption program.

2011-S5186 - Sponsor Memo

                                BILL NUMBER:S5186

TITLE OF BILL:
An act
to amend the real property tax law, in relation to establishing a
residential-commercial exemption program in certain counties

PURPOSE:
This bill establishes a residential-commercial exemption program in
certain counties.

SUMMARY OF PROVISIONS:
Section 1. The real property tax law is amended by adding a new
section 485-n to define residential-commercial exemption program,
applicant, benefit area, commercial construction work, commercial
purpose or use, commercial use property, mixed-use property,
municipality and residential construction work.

This abatement program would be offered in a designated benefit area,
as identified by a Residential Incentive Board, for properties that
are converted, created, modernized, rehabilitated, expanded or
otherwise improved.

The properties would be exempt from increase in real property taxes
and special ad valorem levies for twelve years.

The tax exemption on the change to assessed value of buildings that
have commercial or residential construction work done shall be
computed with respect to the exemption base and according to the
following schedule:

    Year of exemption        Percentage of exemption

     1 through 8              100% of exemption base
     9                         80% of exemption base
     10                        60% of exemption base
     11                        40% of exemption base
     12                        20% of exemption base

Section two states the enactment date.

JUSTIFICATION:    The  County  of  Livingston  has  requested  to have
legislation enacted that will benefit the County of Livingston and all
Towns, Villages and School Districts within the  county,  by  allowing
them  to  grant  real  property tax abatement in defined redevelopment
areas.

This initiative came out of  a  meeting  involving  all  local  taxing
entities in the county in 2009. They all agreed to support legislation
that  authorized  the  adoption  of this tax abatement program by each
taxing body at local option in recognizance of the need to effect real
investment in revitalization.

The  municipalities  in  Livingston  County  recognize  the  need  for
targeted  revitalization and seek authorization at the state level for
this.


Tax abatements are a proven technique for local governments to attract
investors for revitalization. A tax abatement, which this  bill  does,
is  different  than a strict tax exemption. A tax exemption takes away
existing revenue generated by a property, while a tax  abatement  does
not  change  existing  tax  payments. With tax abatements, governments
agree to take less than 100% of new revenue generated through property
investment, repair and renovation.

This legislation will provide a tool for local governments to  use  to
improve their communities. The proposed tax abatement program will not
impose  a  cost  upon the state, and therefore should be considered by
the Legislature  as  a  no-cost,  mandate-free  way  to  allows  local
governments  in  Livingston  County  to  invest in and attract outside
investment to their communities.

LEGISLATIVE HISTORY:  New Bill

FISCAL IMPLICATIONS:  None.

EFFECTIVE DATE:  Effective immediately, and shall expire and be deemed
repealed twelve years after such date.

2011-S5186 - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5186

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               May 3, 2011
                               ___________

Introduced  by  Sen.  YOUNG  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN ACT to amend the real property tax law, in relation to establishing a
  residential-commercial exemption program in certain counties

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  real  property  tax  law  is amended by adding a new
section 485-n to read as follows:
  S 485-N.  RESIDENTIAL-COMMERCIAL EXEMPTION PROGRAM. 1. DEFINITIONS. AS
USED IN THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEAN-
INGS:
  (A) "APPLICANT" MEANS ANY PERSON OBLIGATED TO PAY REAL PROPERTY  TAXES
ON REAL PROPERTY FOR WHICH AN EXEMPTION FROM TAXES UNDER THIS SECTION IS
SOUGHT.
  (B) "BENEFIT AREA" MEANS THE AREA WITHIN A MUNICIPALITY, DESIGNATED BY
LOCAL  LAW, TO WHICH AN EXEMPTION, ESTABLISHED PURSUANT TO THIS SECTION,
APPLIES.
  (C) "COMMERCIAL CONSTRUCTION WORK" MEANS THE MODERNIZATION,  REHABILI-
TATION, EXPANSION OR OTHER IMPROVEMENT OF THE COMMERCIAL USE PROPERTY OR
OF THE PORTION OF MIXED-USE PROPERTY TO BE USED FOR COMMERCIAL PURPOSES.
  (D) "COMMERCIAL PURPOSE OR USE" MEANS THE BUYING, SELLING OR OTHERWISE
PROVIDING  OF  GOODS  OR  SERVICES,  INCLUDING  HOTEL SERVICES, OR OTHER
LAWFUL BUSINESS OR COMMERCIAL ACTIVITIES PERMITTED UPON MIXED-USE  PROP-
ERTY.
  (E) "COMMERCIAL USE PROPERTY" MEANS REAL PROPERTY ON WHICH WILL EXIST,
AFTER  COMPLETION  OF  COMMERCIAL CONSTRUCTION WORK, A BUILDING USED FOR
COMMERCIAL PURPOSES OR USE.
  (F) "MIXED-USE PROPERTY" MEANS REAL  PROPERTY  ON  WHICH  WILL  EXIST,
AFTER  COMPLETION  OF  RESIDENTIAL CONSTRUCTION WORK OR A COMBINATION OF
RESIDENTIAL CONSTRUCTION WORK AND COMMERCIAL CONSTRUCTION WORK, A BUILD-
ING OR STRUCTURE USED FOR BOTH RESIDENTIAL AND COMMERCIAL PURPOSES.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11374-01-1

S. 5186                             2

  (G) "MUNICIPALITY" MEANS ANY TOWN, CITY, VILLAGE OR OTHER TAXING ENTI-
TY LOCATED IN A COUNTY HAVING A POPULATION OF NOT LESS  THAN  SIXTY-FOUR
THOUSAND  THREE  HUNDRED  AND  NOT  MORE  THAN  SIXTY-FOUR THOUSAND FOUR
HUNDRED AS DETERMINED BY THE FEDERAL DECENNIAL CENSUS FOR THE  YEAR  TWO
THOUSAND.
  (H) "RESIDENTIAL CONSTRUCTION WORK" MEANS THE CREATION, MODERNIZATION,
REHABILITATION,  EXPANSION OR OTHER IMPROVEMENT OF DWELLING UNITS, OTHER
THAN DWELLING UNITS IN A HOTEL, IN THE PORTION OF MIXED-USE PROPERTY  TO
BE USED FOR RESIDENTIAL PURPOSES.
  2. (A) A MUNICIPALITY MAY, BY LOCAL LAW, ESTABLISH A BOARD TO BE KNOWN
AS  THE RESIDENTIAL INCENTIVE BOARD THAT SHALL PROVIDE FOR THE EXEMPTION
OF REAL PROPERTY IN A DESIGNATED BENEFIT AREA FROM TAXATION AS  PROVIDED
IN  THIS  SECTION. THE MEMBERSHIP AND COMPOSITION OF SUCH BOARD SHALL BE
SET FORTH IN THE LOCAL LAW.
  (B) THE RESIDENTIAL INCENTIVE BOARD SHALL PRESENT A PLAN TO THE  LOCAL
GOVERNING  BOARD  OR COUNCIL CONCERNING THE VARIOUS TYPES OF RESIDENTIAL
REAL PROPERTY WHICH MAY BE GRANTED ELIGIBILITY FOR AN EXEMPTION PURSUANT
TO PARAGRAPH (A) OF THIS SUBDIVISION. THE EXEMPTION SHALL BE COMPUTED AS
PROVIDED IN THIS SECTION. IN ADDITION, SUCH PLAN SHALL  IDENTIFY  DESIG-
NATED  BENEFIT AREAS, WITHIN WHICH SUCH EXEMPTIONS SHALL BE OFFERED.  IN
DEVELOPING THE PLAN REQUIRED BY THIS PARAGRAPH, THE  RESIDENTIAL  INCEN-
TIVE BOARD SHALL CONSIDER THE PLANNING OBJECTIVES OF THE SCHOOL DISTRICT
WHICH  SERVES  SUCH  MUNICIPALITY, AND THE NECESSITY OF THE EXEMPTION TO
THE ATTRACTION OR RETENTION OF HOME OWNERS AND THE ECONOMIC  BENEFIT  TO
THE AREA OF PROVIDING EXEMPTIONS TO HOME OWNERS.
  (C)  IN ADDITION, THE RESIDENTIAL INCENTIVE BOARD MAY MAKE RECOMMENDA-
TIONS TO THE LOCAL GOVERNING BOARD OR COUNCIL WITH RESPECT TO ACTIONS IT
DEEMS DESIRABLE TO IMPROVE THE ECONOMIC CLIMATE THEREIN.
  (D) IF A LOCAL GOVERNING BOARD OR COUNCIL  ESTABLISHES  A  RESIDENTIAL
INCENTIVE  BOARD PURSUANT TO THIS SECTION, SUCH LOCAL GOVERNING BOARD OR
COUNCIL MAY, BY LOCAL LAW, RESTRICT REAL PROPERTY  ELIGIBLE  TO  RECEIVE
THE EXEMPTION TO REAL PROPERTY CONSTRUCTED FOR THOSE PURPOSES IDENTIFIED
IN THE PLAN PRESENTED BY THE RESIDENTIAL INCENTIVE BOARD. SUCH LOCAL LAW
SHALL  RESTRICT  THE  AVAILABILITY  OF  SUCH  EXEMPTION  TO THE SPECIFIC
GEOGRAPHIC AREAS IDENTIFIED IN THE PLAN  PRESENTED  BY  THE  RESIDENTIAL
INCENTIVE  BOARD.   UPON THE ADOPTION OF SUCH A LOCAL LAW, THE COUNTY IN
WHICH SUCH MUNICIPALITY IS LOCATED MAY, BY LOCAL  LAW,  AND  ANY  SCHOOL
DISTRICT,  ALL OR PART OF WHICH IS LOCATED IN SUCH MUNICIPALITY, MAY, BY
RESOLUTION, EXEMPT SUCH PROPERTY FROM ITS TAXATION IN  THE  SAME  MANNER
AND TO THE SAME EXTENT AS SUCH MUNICIPALITY HAS DONE.
  (F)  A  MUNICIPALITY  OR  SCHOOL  DISTRICT  SHALL SET UP A RESIDENTIAL
INCENTIVE BOARD, EXCEPT WHERE THEY HAVE PREVIOUSLY IDENTIFIED  A  "DOWN-
TOWN REVITALIZATION DISTRICT" BOUNDARY FOR ECONOMIC DEVELOPMENT PURPOSES
BY  PASSING A RESOLUTION OR ADOPTION OF LOCAL LAW IF WITHIN THE LAST TEN
YEARS. UPON THE ADOPTION OF A LOCAL LAW  OR  RESOLUTION  ESTABLISHING  A
DESIGNATED  BENEFIT AREA AND AUTHORIZING THE REAL PROPERTY TAX EXEMPTION
PROVIDED FOR IN THIS SECTION, THE MUNICIPALITY SHALL REAFFIRM ANY "DOWN-
TOWN REVITALIZATION DISTRICT" PREVIOUSLY  ESTABLISHED  BY  SUCH  MUNICI-
PALITY AS THE DESIGNATED BENEFIT AREA FOR THE PURPOSES OF THE REAL PROP-
ERTY TAX EXEMPTION SET FORTH IN THIS SECTION.
  3.  UPON  THE ADOPTION OF SUCH A LOCAL LAW THE COMMERCIAL USE PROPERTY
OR MIXED-USE PROPERTY THAT WAS CONVERTED, CREATED, MODERNIZED, REHABILI-
TATED, EXPANDED OR OTHERWISE IMPROVED OR  THE  COMMERCIAL  USE  PROPERTY
THAT  WAS  CONVERTED,  CREATED,  MODERNIZED,  REHABILITATED, EXPANDED OR
OTHERWISE IMPROVED, SHALL BE EXEMPT FROM TAXATION AND SPECIAL AD VALOREM
LEVIES AS PROVIDED FOR IN SUBDIVISION FOUR OF THIS SECTION.

S. 5186                             3

  4. (A) (I) FOR A PERIOD OF TWELVE YEARS FOLLOWING THE APPROVAL  OF  AN
APPLICATION,  THE  INCREASE IN ASSESSED VALUE OF SUCH PROPERTY ATTRIBUT-
ABLE TO SUCH CONVERSION, CREATION, MODERNIZATION, REHABILITATION, EXPAN-
SION OR OTHER IMPROVEMENT SHALL BE EXEMPT AS  PROVIDED  IN  SUBPARAGRAPH
(II) OF THIS PARAGRAPH. SUCH EXEMPTION SHALL BE COMPUTED WITH RESPECT TO
THE  "EXEMPTION  BASE".  THE EXEMPTION BASE SHALL BE DETERMINED FOR EACH
YEAR IN WHICH THERE IS AN INCREASE IN  ASSESSED  VALUE  SO  ATTRIBUTABLE
FROM THAT OF THE PREVIOUS YEAR'S ASSESSED VALUE.
  (II)  THE  FOLLOWING  SHALL  DETERMINE  THE  COMPUTATION  OF  THE  TAX
EXEMPTION:

YEAR OF EXEMPTION   PERCENTAGE OF EXEMPTION
   1 THROUGH 8      100% OF EXEMPTION BASE
   9                80% OF EXEMPTION BASE
   10               60% OF EXEMPTION BASE
   11               40% OF EXEMPTION BASE
   12               20% OF EXEMPTION BASE

  (B) NO SUCH EXEMPTION SHALL BE GRANTED UNLESS:
  (I) SUCH CONVERSION, CREATION, MODERNIZATION,  REHABILITATION,  EXPAN-
SION  OR OTHER IMPROVEMENT WAS COMMENCED SUBSEQUENT TO THE DATE ON WHICH
THE MUNICIPALITY'S LOCAL LAW TOOK EFFECT; AND
  (II) THE COST OF SUCH CONVERSION, CREATION,  MODERNIZATION,  REHABILI-
TATION,  EXPANSION  OR OTHER IMPROVEMENT EXCEEDS THE SUM OF TEN THOUSAND
DOLLARS OR SUCH GREATER AMOUNT AS MAY BE SPECIFIED BY LOCAL LAW.
  (C) FOR PURPOSES OF  THIS  SECTION  THE  TERM  "CONVERSION,  CREATION,
MODERNIZATION, REHABILITATION, EXPANSION OR OTHER IMPROVEMENT" SHALL NOT
INCLUDE ORDINARY MAINTENANCE AND REPAIRS.
  (D)  NO  SUCH EXEMPTION SHALL BE GRANTED CONCURRENT WITH OR SUBSEQUENT
TO ANY OTHER REAL PROPERTY TAX EXEMPTION GRANTED TO  THE  SAME  IMPROVE-
MENTS TO REAL PROPERTY, EXCEPT, WHERE DURING THE PERIOD OF SUCH PREVIOUS
EXEMPTION,  PAYMENTS IN LIEU OF TAXES OR OTHER PAYMENTS WERE MADE TO THE
MUNICIPALITY IN AN AMOUNT THAT WOULD HAVE BEEN EQUAL TO OR GREATER  THAN
THE  AMOUNT  OF  REAL  PROPERTY  TAXES THAT WOULD HAVE BEEN PAID ON SUCH
IMPROVEMENTS HAD SUCH PROPERTY BEEN GRANTED  AN  EXEMPTION  PURSUANT  TO
THIS  SECTION.  IN SUCH CASE, AN EXEMPTION SHALL BE GRANTED FOR A NUMBER
OF YEARS EQUAL TO THE TWELVE YEAR EXEMPTION  GRANTED  PURSUANT  TO  THIS
SECTION LESS THE NUMBER OF YEARS THE PROPERTY WOULD HAVE BEEN PREVIOUSLY
EXEMPT FROM REAL PROPERTY TAXES.
  5.  SUCH EXEMPTION SHALL BE GRANTED ONLY UPON APPLICATION BY THE OWNER
OF REAL PROPERTY ON A FORM PRESCRIBED BY THE STATE BOARD. SUCH  APPLICA-
TION  SHALL  BE  FILED  WITH  THE ASSESSOR OF THE MUNICIPALITY OR COUNTY
HAVING THE POWER TO ASSESS PROPERTY FOR TAXATION ON OR BEFORE THE APPRO-
PRIATE TAXABLE STATUS DATE OF SUCH MUNICIPALITY OR COUNTY.  NO  APPLICA-
TION  SHALL BE APPROVED BY ANY MUNICIPALITY OR COUNTY THAT WAS SUBMITTED
MORE THAN TWELVE YEARS AFTER THE EFFECTIVE DATE OF THIS SECTION.
  6. IF THE ASSESSOR IS SATISFIED THAT THE APPLICANT IS ENTITLED  TO  AN
EXEMPTION PURSUANT TO THIS SECTION, HE OR SHE SHALL APPROVE THE APPLICA-
TION AND SUCH REAL PROPERTY SHALL THEREAFTER BE EXEMPT FROM TAXATION AND
SPECIAL  AD  VALOREM  LEVIES AS PROVIDED IN THIS SECTION COMMENCING WITH
THE ASSESSMENT ROLL PREPARED AFTER THE TAXABLE STATUS DATE  REFERRED  TO
IN  SUBDIVISION  FIVE  OF  THIS  SECTION.    THE  ASSESSED  VALUE OF ANY
EXEMPTION GRANTED PURSUANT TO THIS  SECTION  SHALL  BE  ENTERED  BY  THE
ASSESSOR  ON  THE  ASSESSMENT  ROLL  WITH THE TAXABLE PROPERTY, WITH THE
AMOUNT OF THE EXEMPTION SHOWN IN A SEPARATE COLUMN.
  S 2. This act shall take effect immediately.

2011-S5186A - Details

Current Committee:: Senate Local Government
Law Section:: Real Property Tax Law
Laws Affected:: Add §485-n, RPT L

2011-S5186A - Summary

Establishes a residential-commercial real property tax exemption program.

2011-S5186A - Sponsor Memo

                                BILL NUMBER:S5186A

TITLE OF BILL:

An act
to amend the real property tax law, in relation to establishing a
residential-commercial exemption program

PURPOSE:

This bill establishes a residential-commercial exemption.

SUMMARY OF PROVISIONS:

Section 1. The real property tax law is amended by adding a new
section 485-n to define residential-commercial exemption program,
applicant, benefit area, commercial construction work, commercial
purpose or use, commercial use property, mixed-use property,
municipality and residential construction work.

This bill would allow any municipality, with the exception of New York
City, to opt in, through adoption of a local law, to a real property
tax abatement program. This abatement program would be offered in a
designated benefit area, as identified by the local governing board,
for properties that are converted, created, modernized,
rehabilitated, expanded or otherwise improved.

The properties would be exempt from increase in real property taxes
and special ad valorem levies for twelve years.

The tax exemption on the changed to assessed value of buildings that
have commercial or residential construction work done shall be
computed with respect to the exemption base and according to the
following schedule:

YEAR OF EXEMPTION        PERCENTAGE OF EXEMPTION

1 through 8              100% of exemption base
9                         80% of exemption base
10                        60% of exemption base
11                        40% of exemption base
12                        20% of exemption base

Section two states the enactment date.

JUSTIFICATION:

This  legislation  will benefit all Counties, Towns, Villages and School
Districts, with the exception of New York  City,  by  allowing  them  to
grant real property tax abatement in defined redevelopment areas.

Tax  abatements  are a proven technique for local governments to attract
investors for revitalization. A tax abatement, which this bill  permits,
is  different  than  a  strict tax exemption. A tax exemption takes away
existing revenue generated by a property, while a tax abatement does not
change  existing tax payments. with tax abatements, governments agree to
take less than 100% of new revenue generated  through  property  invest-
ment, repair and renovation.

This  legislation  will  provide  a tool for local governments to use to
improve their communities. The proposed tax abatement program  will  not
impose  a cost upon the state, and therefore should be considered by the
Legislature as a no-cost, mandate-free way to allow local governments in
New York State to invest in and  attract  outside  investment  to  their
communities.

LEGISLATIVE HISTORY:

New Bill.

FISCAL IMPLICATIONS:

None.

EFFECTIVE DATE:

Effective immediately.

2011-S5186A - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 5186--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               May 3, 2011
                               ___________

Introduced  by  Sen.  YOUNG  -- read twice and ordered printed, and when
  printed to be committed  to  the  Committee  on  Local  Government  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee

AN ACT to amend the real property tax law, in relation to establishing a
  residential-commercial exemption program

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  real  property  tax  law  is amended by adding a new
section 485-n to read as follows:
  S 485-N.  RESIDENTIAL-COMMERCIAL EXEMPTION PROGRAM. 1. DEFINITIONS. AS
USED IN THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEAN-
INGS:
  (A) "APPLICANT" MEANS ANY PERSON OBLIGATED TO PAY REAL PROPERTY  TAXES
ON REAL PROPERTY FOR WHICH AN EXEMPTION FROM TAXES UNDER THIS SECTION IS
SOUGHT.
  (B) "BENEFIT AREA" MEANS THE AREA WITHIN A MUNICIPALITY, DESIGNATED BY
LOCAL  LAW, TO WHICH AN EXEMPTION, ESTABLISHED PURSUANT TO THIS SECTION,
APPLIES.
  (C) "COMMERCIAL CONSTRUCTION WORK" MEANS THE MODERNIZATION,  REHABILI-
TATION, EXPANSION OR OTHER IMPROVEMENT OF THE COMMERCIAL USE PROPERTY OR
OF THE PORTION OF MIXED-USE PROPERTY TO BE USED FOR COMMERCIAL PURPOSES.
  (D) "COMMERCIAL PURPOSE OR USE" MEANS THE BUYING, SELLING OR OTHERWISE
PROVIDING  OF  GOODS  OR  SERVICES,  INCLUDING  HOTEL SERVICES, OR OTHER
LAWFUL BUSINESS OR COMMERCIAL ACTIVITIES PERMITTED UPON MIXED-USE  PROP-
ERTY.
  (E) "COMMERCIAL USE PROPERTY" MEANS REAL PROPERTY ON WHICH WILL EXIST,
AFTER  COMPLETION  OF  COMMERCIAL CONSTRUCTION WORK, A BUILDING USED FOR
COMMERCIAL PURPOSES OR USE.
  (F) "MIXED-USE PROPERTY" MEANS REAL  PROPERTY  ON  WHICH  WILL  EXIST,
AFTER  COMPLETION  OF  RESIDENTIAL CONSTRUCTION WORK OR A COMBINATION OF

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11374-02-1

S. 5186--A                          2

RESIDENTIAL CONSTRUCTION WORK AND COMMERCIAL CONSTRUCTION WORK, A BUILD-
ING OR STRUCTURE USED FOR BOTH RESIDENTIAL AND COMMERCIAL PURPOSES.
  (G) "MUNICIPALITY" MEANS ANY TOWN, CITY, VILLAGE OR OTHER TAXING ENTI-
TY,  THAT  IS  NOT  A  CITY  OR WITHIN A CITY HAVING A POPULATION OF ONE
MILLION OR MORE.
  (H) "RESIDENTIAL CONSTRUCTION WORK" MEANS THE CREATION, MODERNIZATION,
REHABILITATION, EXPANSION OR OTHER IMPROVEMENT OF DWELLING UNITS,  OTHER
THAN  DWELLING UNITS IN A HOTEL, IN THE PORTION OF MIXED-USE PROPERTY TO
BE USED FOR RESIDENTIAL PURPOSES.
  2. (A) A MUNICIPALITY MAY, BY LOCAL LAW, PROVIDE FOR THE EXEMPTION  OF
REAL  PROPERTY IN A DESIGNATED BENEFIT AREA FROM TAXATION AS PROVIDED IN
THIS SECTION.
  (B) THE LOCAL GOVERNING  BOARD  OR  COUNCIL  SHALL  ESTABLISH  A  PLAN
CONCERNING  THE  VARIOUS TYPES OF RESIDENTIAL REAL PROPERTY WHICH MAY BE
GRANTED ELIGIBILITY FOR AN EXEMPTION PURSUANT TO PARAGRAPH (A)  OF  THIS
SUBDIVISION.  THE  EXEMPTION  SHALL  BE  COMPUTED  AS  PROVIDED  IN THIS
SECTION. IN ADDITION, SUCH PLAN SHALL IDENTIFY DESIGNATED BENEFIT AREAS,
WITHIN WHICH SUCH EXEMPTIONS SHALL BE OFFERED.  IN DEVELOPING  THE  PLAN
REQUIRED  BY  THIS PARAGRAPH, THE LOCAL GOVERNING BOARD OR COUNCIL SHALL
CONSIDER THE PLANNING OBJECTIVES OF THE  SCHOOL  DISTRICT  WHICH  SERVES
SUCH  MUNICIPALITY, AND THE NECESSITY OF THE EXEMPTION TO THE ATTRACTION
OR RETENTION OF HOME OWNERS AND THE ECONOMIC  BENEFIT  TO  THE  AREA  OF
PROVIDING EXEMPTIONS TO HOME OWNERS.
  (C)  IN  ADDITION, THE LOCAL GOVERNING BOARD OR COUNCIL MAY MODIFY ITS
PLAN TO IMPROVE THE ECONOMIC CLIMATE THEREIN.
  (D) A LOCAL GOVERNING BOARD OR COUNCIL MAY,  BY  LOCAL  LAW,  RESTRICT
REAL  PROPERTY  ELIGIBLE  TO  RECEIVE  THE  EXEMPTION  TO  REAL PROPERTY
CONSTRUCTED FOR THOSE PURPOSES IDENTIFIED IN THE PLAN.  SUCH  LOCAL  LAW
SHALL  RESTRICT  THE  AVAILABILITY  OF  SUCH  EXEMPTION  TO THE SPECIFIC
GEOGRAPHIC AREAS IDENTIFIED IN THE PLAN.  UPON THE ADOPTION  OF  SUCH  A
LOCAL  LAW,  THE  COUNTY  IN  WHICH SUCH MUNICIPALITY IS LOCATED MAY, BY
LOCAL LAW, AND ANY SCHOOL DISTRICT, ALL OR PART OF WHICH IS  LOCATED  IN
SUCH  MUNICIPALITY,  MAY,  BY  RESOLUTION, EXEMPT SUCH PROPERTY FROM ITS
TAXATION IN THE SAME MANNER AND TO THE SAME EXTENT AS SUCH  MUNICIPALITY
HAS DONE.
  3.  UPON  THE ADOPTION OF SUCH A LOCAL LAW THE COMMERCIAL USE PROPERTY
OR MIXED-USE PROPERTY THAT WAS CONVERTED, CREATED, MODERNIZED, REHABILI-
TATED, EXPANDED OR OTHERWISE IMPROVED OR  THE  COMMERCIAL  USE  PROPERTY
THAT  WAS  CONVERTED,  CREATED,  MODERNIZED,  REHABILITATED, EXPANDED OR
OTHERWISE IMPROVED, SHALL BE EXEMPT FROM TAXATION AND SPECIAL AD VALOREM
LEVIES AS PROVIDED FOR IN SUBDIVISION FOUR OF THIS SECTION.
  4. (A) (I) FOR A PERIOD OF TWELVE YEARS FOLLOWING THE APPROVAL  OF  AN
APPLICATION,  THE  INCREASE IN ASSESSED VALUE OF SUCH PROPERTY ATTRIBUT-
ABLE TO SUCH CONVERSION, CREATION, MODERNIZATION, REHABILITATION, EXPAN-
SION OR OTHER IMPROVEMENT SHALL BE EXEMPT AS  PROVIDED  IN  SUBPARAGRAPH
(II) OF THIS PARAGRAPH. SUCH EXEMPTION SHALL BE COMPUTED WITH RESPECT TO
THE  "EXEMPTION  BASE".  THE EXEMPTION BASE SHALL BE DETERMINED FOR EACH
YEAR IN WHICH THERE IS AN INCREASE IN  ASSESSED  VALUE  SO  ATTRIBUTABLE
FROM THAT OF THE PREVIOUS YEAR'S ASSESSED VALUE.
  (II)  THE  FOLLOWING  SHALL  DETERMINE  THE  COMPUTATION  OF  THE  TAX
EXEMPTION:

YEAR OF EXEMPTION   PERCENTAGE OF EXEMPTION
   1 THROUGH 8      100% OF EXEMPTION BASE
   9                80% OF EXEMPTION BASE
   10               60% OF EXEMPTION BASE

S. 5186--A                          3

   11               40% OF EXEMPTION BASE
   12               20% OF EXEMPTION BASE

  (B) NO SUCH EXEMPTION SHALL BE GRANTED UNLESS:
  (I)  SUCH  CONVERSION, CREATION, MODERNIZATION, REHABILITATION, EXPAN-
SION OR OTHER IMPROVEMENT WAS COMMENCED SUBSEQUENT TO THE DATE ON  WHICH
THE MUNICIPALITY'S LOCAL LAW TOOK EFFECT; AND
  (II)  THE  COST OF SUCH CONVERSION, CREATION, MODERNIZATION, REHABILI-
TATION, EXPANSION OR OTHER IMPROVEMENT EXCEEDS THE SUM OF  TEN  THOUSAND
DOLLARS OR SUCH GREATER AMOUNT AS MAY BE SPECIFIED BY LOCAL LAW.
  (C)  FOR  PURPOSES  OF  THIS  SECTION  THE TERM "CONVERSION, CREATION,
MODERNIZATION, REHABILITATION, EXPANSION OR OTHER IMPROVEMENT" SHALL NOT
INCLUDE ORDINARY MAINTENANCE AND REPAIRS.
  (D) NO SUCH EXEMPTION SHALL BE GRANTED CONCURRENT WITH  OR  SUBSEQUENT
TO  ANY  OTHER  REAL PROPERTY TAX EXEMPTION GRANTED TO THE SAME IMPROVE-
MENTS TO REAL PROPERTY, EXCEPT, WHERE DURING THE PERIOD OF SUCH PREVIOUS
EXEMPTION, PAYMENTS IN LIEU OF TAXES OR OTHER PAYMENTS WERE MADE TO  THE
MUNICIPALITY  IN AN AMOUNT THAT WOULD HAVE BEEN EQUAL TO OR GREATER THAN
THE AMOUNT OF REAL PROPERTY TAXES THAT WOULD  HAVE  BEEN  PAID  ON  SUCH
IMPROVEMENTS  HAD  SUCH  PROPERTY  BEEN GRANTED AN EXEMPTION PURSUANT TO
THIS SECTION. IN SUCH CASE, AN EXEMPTION SHALL BE GRANTED FOR  A  NUMBER
OF  YEARS  EQUAL  TO  THE TWELVE YEAR EXEMPTION GRANTED PURSUANT TO THIS
SECTION LESS THE NUMBER OF YEARS THE PROPERTY WOULD HAVE BEEN PREVIOUSLY
EXEMPT FROM REAL PROPERTY TAXES.
  5. SUCH EXEMPTION SHALL BE GRANTED ONLY UPON APPLICATION BY THE  OWNER
OF  REAL PROPERTY ON A FORM PRESCRIBED BY THE STATE BOARD. SUCH APPLICA-
TION SHALL BE FILED WITH THE ASSESSOR  OF  THE  MUNICIPALITY  OR  COUNTY
HAVING THE POWER TO ASSESS PROPERTY FOR TAXATION ON OR BEFORE THE APPRO-
PRIATE  TAXABLE STATUS DATE OF SUCH MUNICIPALITY OR COUNTY.  NO APPLICA-
TION SHALL BE APPROVED BY ANY MUNICIPALITY OR COUNTY THAT WAS  SUBMITTED
MORE THAN TWELVE YEARS AFTER THE EFFECTIVE DATE OF THIS SECTION.
  6.  IF  THE ASSESSOR IS SATISFIED THAT THE APPLICANT IS ENTITLED TO AN
EXEMPTION PURSUANT TO THIS SECTION, HE OR SHE SHALL APPROVE THE APPLICA-
TION AND SUCH REAL PROPERTY SHALL THEREAFTER BE EXEMPT FROM TAXATION AND
SPECIAL AD VALOREM LEVIES AS PROVIDED IN THIS  SECTION  COMMENCING  WITH
THE  ASSESSMENT  ROLL PREPARED AFTER THE TAXABLE STATUS DATE REFERRED TO
IN SUBDIVISION FIVE  OF  THIS  SECTION.    THE  ASSESSED  VALUE  OF  ANY
EXEMPTION  GRANTED  PURSUANT  TO  THIS  SECTION  SHALL BE ENTERED BY THE
ASSESSOR ON THE ASSESSMENT ROLL WITH  THE  TAXABLE  PROPERTY,  WITH  THE
AMOUNT OF THE EXEMPTION SHOWN IN A SEPARATE COLUMN.
  S 2. This act shall take effect immediately.

2011-S5186B (ACTIVE) - Details

Current Committee:: Senate Local Government
Law Section:: Real Property Tax Law
Laws Affected:: Add §485-n, RPT L

2011-S5186B (ACTIVE) - Summary

Establishes a residential-commercial real property tax exemption program.

2011-S5186B (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S5186B

TITLE OF BILL:
An act
to amend the real property tax law, in relation to establishing a
residential-commercial exemption program

PURPOSE:
This bill establishes a residential-commercial exemption.

SUMMARY OF PROVISIONS:
Section 1. The real property tax law is amended by adding a new
section 485-n to define residential-commercial exemption program,
applicant, benefit area, commercial construction work, commercial
purpose or use, commercial use property, mixed-use property,
municipality and residential construction work.

This bill would allow any municipality, with the exception of New York
City, to opt in, through adoption of a local law, to a real property
tax abatement program. This abatement program would be offered in a
designated benefit area, as identified by the local governing board,
for properties that are converted, created, modernized,
rehabilitated, expanded or otherwise improved.

The properties would be exempt from increase in real property taxes
and special ad valorem levies for twelve years.

The tax exemption on the changed to assessed value of buildings that
have commercial or residential construction work done shall be
computed with respect to the exemption base and according to the
following schedule:

YEAR OF EXEMPTION   PERCENTAGE OF EXEMPTION

1 through 8         100% of exemption base
9                    80% of exemption base
10                   60% of exemption base
11                   40% of exemption base
12                   20% of exemption base

Section two states the enactment date.

JUSTIFICATION:
This legislation will benefit all Counties, Towns, Villages and School
Districts,  with  the  exception of New York City, by allowing them to
grant real property tax abatement in defined redevelopment areas.

Tax abatements are a proven technique for local governments to attract
investors  for  revitalization.  A  tax  abatement,  which  this  bill
permits,  is  different  than  a strict tax exemption. A tax exemption
takes away existing revenue generated  by  a  property,  while  a  tax
abatement  does not change existing tax payments. With tax abatements,
governments agree to take less than  100%  of  new  revenue  generated
through property investment, repair and renovation.


This  legislation  will provide a tool for local governments to use to
improve their communities. The proposed tax abatement program will not
impose a cost upon the state, and therefore should  be  considered  by
the  Legislature  as  a  no-cost,  mandate-free  way  to  allow  local
governments  in  New  York  State  to  invest  in  and attract outside
investment to their communities.

LEGISLATIVE HISTORY:
New Bill.

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
Effective immediately.

2011-S5186B (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 5186--B

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               May 3, 2011
                               ___________

Introduced  by  Sen.  YOUNG  -- read twice and ordered printed, and when
  printed to be committed  to  the  Committee  on  Local  Government  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee -- committee discharged,  bill  amended,
  ordered reprinted as amended and recommitted to said committee

AN ACT to amend the real property tax law, in relation to establishing a
  residential-commercial exemption program

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The real property tax  law  is  amended  by  adding  a  new
section 485-n to read as follows:
  S 485-N.  RESIDENTIAL-COMMERCIAL EXEMPTION PROGRAM. 1. DEFINITIONS. AS
USED IN THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEAN-
INGS:
  (A)  "APPLICANT" MEANS ANY PERSON OBLIGATED TO PAY REAL PROPERTY TAXES
ON REAL PROPERTY FOR WHICH AN EXEMPTION FROM TAXES UNDER THIS SECTION IS
SOUGHT.
  (B) "BENEFIT AREA" MEANS THE AREA WITHIN A MUNICIPALITY, DESIGNATED BY
LOCAL LAW, TO WHICH AN EXEMPTION, ESTABLISHED PURSUANT TO THIS  SECTION,
APPLIES.
  (C)  "COMMERCIAL CONSTRUCTION WORK" MEANS THE MODERNIZATION, REHABILI-
TATION, EXPANSION OR OTHER IMPROVEMENT OF THE COMMERCIAL USE PROPERTY OR
OF THE PORTION OF MIXED-USE PROPERTY TO BE USED FOR COMMERCIAL PURPOSES.
  (D) "COMMERCIAL PURPOSE OR USE" MEANS THE BUYING, SELLING OR OTHERWISE
PROVIDING OF GOODS OR  SERVICES,  INCLUDING  HOTEL  SERVICES,  OR  OTHER
LAWFUL  BUSINESS OR COMMERCIAL ACTIVITIES PERMITTED UPON MIXED-USE PROP-
ERTY.
  (E) "COMMERCIAL USE PROPERTY" MEANS REAL PROPERTY ON WHICH WILL EXIST,
AFTER COMPLETION OF COMMERCIAL CONSTRUCTION WORK, A  BUILDING  USED  FOR
COMMERCIAL PURPOSES OR USE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11374-05-1

S. 5186--B                          2

  (F)  "MIXED-USE  PROPERTY"  MEANS  REAL  PROPERTY ON WHICH WILL EXIST,
AFTER COMPLETION OF RESIDENTIAL CONSTRUCTION WORK OR  A  COMBINATION  OF
RESIDENTIAL CONSTRUCTION WORK AND COMMERCIAL CONSTRUCTION WORK, A BUILD-
ING OR STRUCTURE USED FOR BOTH RESIDENTIAL AND COMMERCIAL PURPOSES.
  (G) "MUNICIPALITY" MEANS ANY TOWN, CITY, VILLAGE OR OTHER TAXING ENTI-
TY,  THAT  IS  NOT  A  CITY  OR WITHIN A CITY HAVING A POPULATION OF ONE
MILLION OR MORE.
  (H) "RESIDENTIAL CONSTRUCTION WORK" MEANS THE CREATION, MODERNIZATION,
REHABILITATION, EXPANSION OR OTHER IMPROVEMENT OF DWELLING UNITS,  OTHER
THAN  DWELLING UNITS IN A HOTEL, IN THE PORTION OF MIXED-USE PROPERTY TO
BE USED FOR RESIDENTIAL PURPOSES.
  2. (A) A MUNICIPALITY MAY, BY LOCAL LAW, PROVIDE FOR THE EXEMPTION  OF
REAL  PROPERTY IN A DESIGNATED BENEFIT AREA FROM TAXATION AS PROVIDED IN
THIS SECTION.
  (B) THE LOCAL GOVERNING  BOARD  OR  COUNCIL  SHALL  ESTABLISH  A  PLAN
CONCERNING  THE  VARIOUS TYPES OF RESIDENTIAL REAL PROPERTY WHICH MAY BE
GRANTED ELIGIBILITY FOR AN EXEMPTION PURSUANT TO PARAGRAPH (A)  OF  THIS
SUBDIVISION.  THE  EXEMPTION  SHALL  BE  COMPUTED  AS  PROVIDED  IN THIS
SECTION. IN ADDITION, SUCH PLAN SHALL IDENTIFY DESIGNATED BENEFIT AREAS,
WITHIN WHICH SUCH EXEMPTIONS SHALL BE OFFERED.  IN DEVELOPING  THE  PLAN
REQUIRED  BY  THIS PARAGRAPH, THE LOCAL GOVERNING BOARD OR COUNCIL SHALL
CONSIDER THE PLANNING OBJECTIVES OF THE  SCHOOL  DISTRICT  WHICH  SERVES
SUCH  MUNICIPALITY, AND THE NECESSITY OF THE EXEMPTION TO THE ATTRACTION
OR RETENTION OF HOME OWNERS AND THE ECONOMIC  BENEFIT  TO  THE  AREA  OF
PROVIDING EXEMPTIONS TO HOME OWNERS.
  (C)  IN  ADDITION, THE LOCAL GOVERNING BOARD OR COUNCIL MAY MODIFY ITS
PLAN TO IMPROVE THE ECONOMIC CLIMATE THEREIN.
  (D) A LOCAL GOVERNING BOARD OR COUNCIL MAY,  BY  LOCAL  LAW,  RESTRICT
REAL  PROPERTY  ELIGIBLE  TO  RECEIVE  THE  EXEMPTION  TO  REAL PROPERTY
CONSTRUCTED FOR THOSE PURPOSES IDENTIFIED IN THE PLAN.  SUCH  LOCAL  LAW
SHALL  RESTRICT  THE  AVAILABILITY  OF  SUCH  EXEMPTION  TO THE SPECIFIC
GEOGRAPHIC AREAS IDENTIFIED IN THE PLAN.  UPON THE ADOPTION  OF  SUCH  A
LOCAL  LAW,  THE  COUNTY  IN  WHICH SUCH MUNICIPALITY IS LOCATED MAY, BY
LOCAL LAW, AND ANY SCHOOL DISTRICT, ALL OR PART OF WHICH IS  LOCATED  IN
SUCH  MUNICIPALITY,  MAY,  BY  RESOLUTION, EXEMPT SUCH PROPERTY FROM ITS
TAXATION IN THE SAME MANNER AND TO THE SAME EXTENT AS SUCH  MUNICIPALITY
HAS DONE.
  3.  UPON  THE ADOPTION OF SUCH A LOCAL LAW THE COMMERCIAL USE PROPERTY
OR MIXED-USE PROPERTY THAT WAS CONVERTED, CREATED, MODERNIZED, REHABILI-
TATED, EXPANDED OR OTHERWISE IMPROVED OR  THE  COMMERCIAL  USE  PROPERTY
THAT  WAS  CONVERTED,  CREATED,  MODERNIZED,  REHABILITATED, EXPANDED OR
OTHERWISE IMPROVED, SHALL BE EXEMPT FROM TAXATION AND SPECIAL AD VALOREM
LEVIES AS PROVIDED FOR IN SUBDIVISION FOUR OF THIS SECTION.
  4. (A) (I) FOR A PERIOD OF TWELVE YEARS FOLLOWING THE APPROVAL  OF  AN
APPLICATION,  THE  INCREASE IN ASSESSED VALUE OF SUCH PROPERTY ATTRIBUT-
ABLE TO SUCH CONVERSION, CREATION, MODERNIZATION, REHABILITATION, EXPAN-
SION OR OTHER IMPROVEMENT SHALL BE EXEMPT AS  PROVIDED  IN  SUBPARAGRAPH
(II) OF THIS PARAGRAPH. SUCH EXEMPTION SHALL BE COMPUTED WITH RESPECT TO
THE  "EXEMPTION  BASE".  THE EXEMPTION BASE SHALL BE DETERMINED FOR EACH
YEAR IN WHICH THERE IS AN INCREASE IN  ASSESSED  VALUE  SO  ATTRIBUTABLE
FROM THAT OF THE PREVIOUS YEAR'S ASSESSED VALUE.
  (II)  THE  FOLLOWING  SHALL  DETERMINE  THE  COMPUTATION  OF  THE  TAX
EXEMPTION:

YEAR OF EXEMPTION   PERCENTAGE OF EXEMPTION
   1 THROUGH 8      100% OF EXEMPTION BASE

S. 5186--B                          3

   9                80% OF EXEMPTION BASE
   10               60% OF EXEMPTION BASE
   11               40% OF EXEMPTION BASE
   12               20% OF EXEMPTION BASE

  (B) NO SUCH EXEMPTION SHALL BE GRANTED UNLESS:
  (I)  SUCH  CONVERSION, CREATION, MODERNIZATION, REHABILITATION, EXPAN-
SION OR OTHER IMPROVEMENT WAS COMMENCED SUBSEQUENT TO THE DATE ON  WHICH
THE MUNICIPALITY'S LOCAL LAW TOOK EFFECT; AND
  (II)  THE  COST OF SUCH CONVERSION, CREATION, MODERNIZATION, REHABILI-
TATION, EXPANSION OR OTHER IMPROVEMENT EXCEEDS THE SUM OF  TEN  THOUSAND
DOLLARS OR SUCH GREATER AMOUNT AS MAY BE SPECIFIED BY LOCAL LAW.
  (C)  FOR  PURPOSES  OF  THIS  SECTION  THE TERM "CONVERSION, CREATION,
MODERNIZATION, REHABILITATION, EXPANSION OR OTHER IMPROVEMENT" SHALL NOT
INCLUDE ORDINARY MAINTENANCE AND REPAIRS.
  (D) NO SUCH EXEMPTION SHALL BE GRANTED CONCURRENT WITH  OR  SUBSEQUENT
TO  ANY  OTHER  REAL PROPERTY TAX EXEMPTION GRANTED TO THE SAME IMPROVE-
MENTS TO REAL PROPERTY, EXCEPT, WHERE DURING THE PERIOD OF SUCH PREVIOUS
EXEMPTION, PAYMENTS IN LIEU OF TAXES OR OTHER PAYMENTS WERE MADE TO  THE
MUNICIPALITY  IN AN AMOUNT THAT WOULD HAVE BEEN EQUAL TO OR GREATER THAN
THE AMOUNT OF REAL PROPERTY TAXES THAT WOULD  HAVE  BEEN  PAID  ON  SUCH
IMPROVEMENTS  HAD  SUCH  PROPERTY  BEEN GRANTED AN EXEMPTION PURSUANT TO
THIS SECTION. IN SUCH CASE, AN EXEMPTION SHALL BE GRANTED FOR  A  NUMBER
OF  YEARS  EQUAL  TO  THE TWELVE YEAR EXEMPTION GRANTED PURSUANT TO THIS
SECTION LESS THE NUMBER OF YEARS THE PROPERTY WOULD HAVE BEEN PREVIOUSLY
EXEMPT FROM REAL PROPERTY TAXES.
  5. SUCH EXEMPTION SHALL BE GRANTED ONLY UPON APPLICATION BY THE  OWNER
OF  REAL PROPERTY ON A FORM PRESCRIBED BY THE STATE BOARD. SUCH APPLICA-
TION SHALL BE FILED WITH THE ASSESSOR  OF  THE  MUNICIPALITY  OR  COUNTY
HAVING THE POWER TO ASSESS PROPERTY FOR TAXATION ON OR BEFORE THE APPRO-
PRIATE  TAXABLE STATUS DATE OF SUCH MUNICIPALITY OR COUNTY, AND WITH THE
CHIEF FINANCIAL OFFICER OF THE MUNICIPALITY. IF  A  COUNTY  IN  WHICH  A
MUNICIPALITY  IS LOCATED HAS ADOPTED A LOCAL LAW EXEMPTING REAL PROPERTY
ELIGIBLE TO RECEIVE AN EXEMPTION PURSUANT TO PARAGRAPH (D)  OF  SUBDIVI-
SION  TWO OF THIS SECTION, SUCH APPLICATION SHALL ALSO BE FILED WITH THE
COUNTY ECONOMIC DEVELOPMENT OFFICER.  NO APPLICATION SHALL  BE  APPROVED
BY  ANY MUNICIPALITY OR COUNTY THAT WAS SUBMITTED MORE THAN TWELVE YEARS
AFTER THE EFFECTIVE DATE OF THIS SECTION.
  6. IF THE CHIEF FINANCIAL OFFICER OF THE MUNICIPALITY, IN CONSULTATION
WITH THE MUNICIPAL ASSESSOR, OR IN COUNTIES WHICH HAVE ADOPTED  A  LOCAL
LAW EXEMPTING REAL PROPERTY ELIGIBLE TO RECEIVE AN EXEMPTION PURSUANT TO
PARAGRAPH  (D)  OF  SUBDIVISION TWO OF THIS SECTION, THE COUNTY ECONOMIC
DEVELOPMENT OFFICER, IN CONSULTATION WITH THE COUNTY ASSESSOR, IS SATIS-
FIED THAT THE APPLICANT IS ENTITLED TO AN  EXEMPTION  PURSUANT  TO  THIS
SECTION,  HE OR SHE SHALL APPROVE THE APPLICATION AND SUCH REAL PROPERTY
SHALL THEREAFTER BE EXEMPT FROM TAXATION AND SPECIAL AD  VALOREM  LEVIES
AS PROVIDED IN THIS SECTION COMMENCING WITH THE ASSESSMENT ROLL PREPARED
AFTER  THE  TAXABLE  STATUS DATE REFERRED TO IN SUBDIVISION FIVE OF THIS
SECTION.  THE ASSESSED VALUE OF ANY EXEMPTION GRANTED PURSUANT  TO  THIS
SECTION SHALL BE ENTERED BY THE ASSESSOR ON THE ASSESSMENT ROLL WITH THE
TAXABLE  PROPERTY,  WITH THE AMOUNT OF THE EXEMPTION SHOWN IN A SEPARATE
COLUMN.
  S 2. This act shall take effect immediately.

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Senate Bill S5186

Sponsored By

Archive: Last Bill Status - In Senate Committee Local Government Committee

Bill Amendments

2011-S5186 - Details

2011-S5186 - Summary

2011-S5186 - Sponsor Memo

2011-S5186 - Bill Text download pdf

2011-S5186A - Details

2011-S5186A - Summary

2011-S5186A - Sponsor Memo

2011-S5186A - Bill Text download pdf

2011-S5186B (ACTIVE) - Details

2011-S5186B (ACTIVE) - Summary

2011-S5186B (ACTIVE) - Sponsor Memo

2011-S5186B (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S5186

Share this bill

Sponsored By

Catharine Young

Archive: Last Bill Status - In Senate Committee Local Government Committee

Bill Amendments

2011-S5186 - Details

2011-S5186 - Summary

2011-S5186 - Sponsor Memo

2011-S5186 - Bill Text download pdf

2011-S5186A - Details

2011-S5186A - Summary

2011-S5186A - Sponsor Memo

2011-S5186A - Bill Text download pdf

2011-S5186B (ACTIVE) - Details

2011-S5186B (ACTIVE) - Summary

2011-S5186B (ACTIVE) - Sponsor Memo

2011-S5186B (ACTIVE) - Bill Text download pdf

Comments