Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jan 04, 2012 |
referred to housing, construction and community development |
Feb 03, 2011 |
referred to housing, construction and community development |
Senate Bill S2894
2011-2012 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development 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, WF) Senate District
(D, WF) 33rd Senate District
2011-S2894 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A2696
- Current Committee:
- Senate Housing, Construction And Community Development
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd ยง421-a, RPT L
- Versions Introduced in Other Legislative Sessions:
-
2013-2014:
S1819
2015-2016: S3753
2011-S2894 (ACTIVE) - Sponsor Memo
BILL NUMBER:S2894 TITLE OF BILL: An act to amend the real property tax law, in relation to exemptions of new multiple dwellings from local taxation PURPOSE OR GENERAL IDEA OF BILL: The purpose of this legislation is to extend the effectiveness of 421-a tax benefits for buildings whose construction commences prior to June 15, 2011. SUMMARY OF SPECIFIC PROVISIONS: This bill would make available the benefits of the 421-a program in the borough of Manhattan for new multiple dwellings on tax lots now existing or hereafter created south of or adjacent to either side of one hundred tenth street which commence construction after July 1, 1992 and before June 15, 2011, only if construction is commenced after January 1, 1975, and before June 15, 2011, provided that such commencement period shall not apply to multiple dwellings eligible for benefits under this subdivision. JUSTIFICATION: Section 421-a of the Real Property Tax Law has provided tax benefits for construction of new residential buildings in the City of New York since 1971. Section 421a benefits are available for
2011-S2894 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2894 2011-2012 Regular Sessions I N S E N A T E February 3, 2011 ___________ Introduced by Sen. ESPAILLAT -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to amend the real property tax law, in relation to exemptions of new multiple dwellings from local taxation THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The opening paragraph of item (A) of subparagraph (iv) of paragraph (a) of subdivision 2 of section 421-a of the real property tax law, as amended by chapter 618 of the laws of 2007, is amended to read as follows: Unless excluded by local law, in the city of New York, the benefits of this subparagraph shall be available in the borough of Manhattan for new multiple dwellings on tax lots now existing or hereafter created south of or adjacent to either side of one hundred tenth street which commence construction after July first, nineteen hundred ninety-two and before [December twenty-eighth] JUNE FIFTEENTH, two thousand [ten] ELEVEN only if: S 2. Subparagraph (ii) of paragraph (c) of subdivision 2 of section 421-a of the real property tax law, as amended by chapter 618 of the laws of 2007, is amended to read as follows: (ii) construction is commenced after January first, nineteen hundred seventy-five and before [December twenty-eighth] JUNE FIFTEENTH, two thousand [ten] ELEVEN provided, however, that such commencement period shall not apply to multiple dwellings eligible for benefits under subparagraph (iv) of paragraph (a) of this subdivision; S 3. This act shall take effect immediately and shall be deemed to have been in full force and effect on and after December 28, 2010. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07027-02-1
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