Senate Bill S5619

2011-2012 Legislative Session

Relating to the exemption of new multiple dwellings from local taxation; repealer

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Sponsored By

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

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2011-S5619 (ACTIVE) - Details

Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Real Property Tax Law
Laws Affected:
Rpld §421-a subs 7, 9 -11, 13 - 15, sub 2 ¶ (a) sub¶ (iii) cl (E), amd §421-a, RPT L

2011-S5619 (ACTIVE) - Summary

Relates to requirements for the exemption of new multiple dwellings from local taxation; repeals provisions enacted in 2007 relating to the construction of certain affordable housing units.

2011-S5619 (ACTIVE) - Sponsor Memo

2011-S5619 (ACTIVE) - Bill Text download pdf

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

                                  5619

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              June 7, 2011
                               ___________

Introduced  by  Sen.  GOLDEN -- 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 the exemption
  of new multiple dwellings from local taxation; and to  repeal  certain
  provisions of such law relating thereto

  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] THIRTY-FIRST, two thousand [ten] THIRTEEN  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] THIRTY-FIRST, two thou-
sand [ten] THIRTEEN 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. Subdivisions 7, 9, 10, 11, 13, 14 and 15 of section 421-a of  the
real property tax law are REPEALED.
  S  4. Clause (E) of subparagraph (iii) of paragraph (a) of subdivision
2 of section 421-a of the real property tax law is REPEALED.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11748-02-1
              

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