Senate Bill S6245

2011-2012 Legislative Session

Relates to calculations of enhanced STAR upon sale of a parcel of real property with such exemption

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Sponsored By

Archive: Last Bill Status - In Senate Committee Aging 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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2011-S6245 (ACTIVE) - Details

Current Committee:
Senate Aging
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง425, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: S2196
2015-2016: S1746
2017-2018: S699
2019-2020: S3531

2011-S6245 (ACTIVE) - Summary

Relates to calculations of enhanced STAR upon sale of a parcel of real property with such exemption.

2011-S6245 (ACTIVE) - Sponsor Memo

2011-S6245 (ACTIVE) - Bill Text download pdf 

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

                                  6245

                            I N  S E N A T E

                            January 17, 2012
                               ___________

Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
  printed to be committed to the Committee on Aging

AN ACT to amend the real property tax law, in relation to certain calcu-
  lations for enhanced STAR

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

  Section  1.    Subdivision 9-b of section 425 of the real property tax
law is amended by adding a new paragraph (e) to read as follows:
  (E) NOTWITHSTANDING THE FOREGOING PROVISIONS OF THIS  SUBDIVISION,  AT
THE  TIME  OF  SALE  OF A PARCEL OF REAL PROPERTY WITH THE ENHANCED STAR
EXEMPTION, IF A PURCHASER IS NOT ENTITLED TO SUCH EXEMPTION,  THEN  SUCH
PURCHASER  SHALL  MAKE  THE  MUNICIPALITY WHOLE BY PAYING THE DIFFERENCE
BETWEEN THE SELLER'S TAX LIABILITY AND THAT DUE FROM THE PURCHASER BASED
ON SUCH PURCHASER'S TAX LIABILITY. THE PURCHASER SHALL PAY THE PRO-RATED
PORTION OF THE NON-ENHANCED STAR EXEMPTION TAX LIABILITY.
  S 2. This act shall take effect immediately; provided,  however,  that
effective immediately, the addition, amendment and/or repeal of any rule
or regulation necessary for the implementation of this act on its effec-
tive  date  is  authorized  and  directed to be made and completed on or
before such effective date.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13468-01-1

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