Senate Bill S6424B

Vetoed By Governor
2013-2014 Legislative Session

Relates to real property tax exemptions for farm dwellings owned by a limited liability company

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Sponsored By

Archive: Last Bill Status Via A8320 - Vetoed by Governor

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Vetoed By Governor
  • Signed By Governor

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Votes

Bill Amendments

co-Sponsors

2013-S6424 - Details

See Assembly Version of this Bill:
A8320
Law Section:
Real Property Tax Law
Laws Affected:
Amd §425, RPT L
Versions Introduced in 2015-2016 Legislative Session:
S3539, A1421

2013-S6424 - Summary

Relates to real property tax exemptions for farm dwellings owned by a limited liability company.

2013-S6424 - Sponsor Memo

2013-S6424 - Bill Text download pdf 

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

                                  6424

                            I N  S E N A T E

                            January 22, 2014
                               ___________

Introduced  by  Sen. MARTINS -- 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 a real proper-
  ty tax exemption for farm  dwellings  owned  by  a  limited  liability
  company

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

  Section 1. Paragraph (d) of subdivision 3 of section 425 of  the  real
property  tax  law,  as  added  by  chapter  443 of the laws of 2003, is
amended to read as follows:
  (d) Farm dwellings not owned by the resident. (i) If  legal  title  to
the farm dwelling is held by an S-corporation or by a C-corporation, the
exemption  shall  be granted if the property serves as the primary resi-
dence of a shareholder of such corporation.
  (ii) If the legal title to the farm dwelling is held by a partnership,
the exemption shall be granted if the property  serves  as  the  primary
residence of one or more of the partners.
  (iii)  IF  THE  LEGAL  TITLE TO THE FARM DWELLING IS HELD BY A LIMITED
LIABILITY COMPANY, THE EXEMPTION SHALL BE GRANTED IF THE PROPERTY SERVES
AS THE PRIMARY RESIDENCE OF ONE OR MORE OF THE OWNERS.
  (IV) Any information deemed  necessary  to  establish  shareholder  or
partner status for eligibility purposes shall be considered confidential
and exempt from the freedom of information law.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13198-01-3

co-Sponsors

2013-S6424A - Details

See Assembly Version of this Bill:
A8320
Law Section:
Real Property Tax Law
Laws Affected:
Amd §425, RPT L
Versions Introduced in 2015-2016 Legislative Session:
S3539, A1421

2013-S6424A - Summary

Relates to real property tax exemptions for farm dwellings owned by a limited liability company.

2013-S6424A - Sponsor Memo

2013-S6424A - Bill Text download pdf 

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

                                 6424--A
    Cal. No. 125

                            I N  S E N A T E

                            January 22, 2014
                               ___________

Introduced  by Sens. MARTINS, FARLEY, RITCHIE, VALESKY -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Local Government -- reported favorably from said committee, ordered to
  first  and  second  report,  ordered  to  a third reading, amended and
  ordered reprinted, retaining its place in the order of third reading

AN ACT to amend the real property tax law, in relation to a real proper-
  ty tax exemption for farm  dwellings  owned  by  a  limited  liability
  company

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

  Section 1. Paragraph (d) of subdivision 3 of section 425 of  the  real
property  tax  law,  as  added  by  chapter  443 of the laws of 2003, is
amended to read as follows:
  (d) Farm dwellings not owned by the resident. (i) If  legal  title  to
the farm dwelling is held by an S-corporation or by a C-corporation, the
exemption  shall  be granted if the property serves as the primary resi-
dence of a shareholder of such corporation.
  (ii) If the legal title to the farm dwelling is held by a partnership,
the exemption shall be granted if the property  serves  as  the  primary
residence of one or more of the partners.
  (iii)  IF  THE  LEGAL  TITLE TO THE FARM DWELLING IS HELD BY A LIMITED
LIABILITY COMPANY, THE EXEMPTION SHALL BE GRANTED IF THE PROPERTY SERVES
AS THE PRIMARY RESIDENCE OF ONE OR MORE OF THE OWNERS.
  (IV) Any information deemed  necessary  to  establish  shareholder  or
partner status for eligibility purposes shall be considered confidential
and exempt from the freedom of information law.
  S 2. This act shall take effect January 1, 2015.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13198-03-4

co-Sponsors

2013-S6424B (ACTIVE) - Details

See Assembly Version of this Bill:
A8320
Law Section:
Real Property Tax Law
Laws Affected:
Amd §425, RPT L
Versions Introduced in 2015-2016 Legislative Session:
S3539, A1421

2013-S6424B (ACTIVE) - Summary

Relates to real property tax exemptions for farm dwellings owned by a limited liability company.

2013-S6424B (ACTIVE) - Sponsor Memo

2013-S6424B (ACTIVE) - Bill Text download pdf 

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

                                 6424--B
    Cal. No. 125

                            I N  S E N A T E

                            January 22, 2014
                               ___________

Introduced  by Sens. MARTINS, FARLEY, RITCHIE, VALESKY -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Local Government -- reported favorably from said committee, ordered to
  first  and  second  report,  ordered  to  a third reading, amended and
  ordered reprinted, retaining its place in the order of  third  reading
  --  again  amended  and  ordered reprinted, retaining its place in the
  order of third reading

AN ACT to amend the real property tax law, in relation to a real proper-
  ty tax exemption for farm  dwellings  owned  by  a  limited  liability
  company

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

  Section 1. Paragraph (d) of subdivision 3 of section 425 of  the  real
property  tax  law,  as  added  by  chapter  443 of the laws of 2003, is
amended to read as follows:
  (d) Farm dwellings not owned by the resident. (i) If  legal  title  to
the farm dwelling is held by an S-corporation or by a C-corporation, the
exemption  shall  be granted if the property serves as the primary resi-
dence of a shareholder of such corporation.
  (ii) If the legal title to the farm dwelling is held by a partnership,
the exemption shall be granted if the property  serves  as  the  primary
residence of one or more of the partners.
  (iii)  IF  THE  LEGAL  TITLE TO THE FARM DWELLING IS HELD BY A LIMITED
LIABILITY COMPANY, THE EXEMPTION SHALL BE GRANTED IF THE PROPERTY SERVES
AS THE PRIMARY RESIDENCE OF ONE OR MORE OF THE OWNERS.
  (IV) Any information deemed necessary to establish  shareholder  [or],
partner  OR  OWNER  status  for eligibility purposes shall be considered
confidential and exempt from the freedom of information law.
  S 2. This act shall take effect January 1, 2015.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13198-05-4

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