S T A T E   O F   N E W   Y O R K
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                                 5484--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 24, 2015
                               ___________

Introduced  by  M. of A. GALEF, CORWIN, STEC -- Multi-Sponsored by -- M.
  of A.  McLAUGHLIN -- read once and referred to the Committee  on  Real
  Property  Taxation  --  recommitted  to the Committee on Real Property
  Taxation in accordance with Assembly  Rule  3,  sec.  2  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN  ACT to amend the real property tax law and the real property law, in
  relation to the taxation of property owned  by  a  cooperative  corpo-
  ration

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

  Section 1. Subdivision 1 of section 581 of the real property  tax  law
is amended by adding a new paragraph (d) to read as follows:
  (D)  THE  PROVISIONS  OF  PARAGRAPH  (A) OF THIS SUBDIVISION SHALL NOT
APPLY TO REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE  CORPORATION  OR
ON  A CONDOMINIUM BASIS IN A MUNICIPAL CORPORATION, OTHER THAN A SPECIAL
ASSESSING UNIT, WHICH HAS ADOPTED, PRIOR TO THE TAXABLE STATUS  DATE  OF
THE ASSESSMENT ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW OR,
FOR  A  SCHOOL  DISTRICT,  A RESOLUTION PROVIDING THAT THE PROVISIONS OF
PARAGRAPH (A) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH REAL  PROPERTY
WITHIN  THAT MUNICIPAL CORPORATION; PROVIDED, HOWEVER, THE PROVISIONS OF
THIS PARAGRAPH SHALL NOT APPLY TO REAL PROPERTY OWNED  OR  LEASED  BY  A
COOPERATIVE  CORPORATION  OR ON A CONDOMINIUM BASIS THAT HAD BEEN PREVI-
OUSLY SUBJECT TO THE PROVISIONS OF PARAGRAPH  (A)  OF  THIS  SUBDIVISION
PRIOR TO JANUARY FIRST, TWO THOUSAND EIGHTEEN.
  S  2.  Subdivision  1  of  section  339-y  of the real property law is
amended by adding a new paragraph (g) to read as follows:
  (G) THE PROVISIONS OF PARAGRAPH (B)  OF  THIS  SUBDIVISION  SHALL  NOT
APPLY  TO  REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE CORPORATION OR
ON A CONDOMINIUM BASIS IN A MUNICIPAL CORPORATION OTHER THAN  A  SPECIAL
ASSESSING  UNIT,  WHICH HAS ADOPTED, PRIOR TO THE TAXABLE STATUS DATE OF

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00055-03-6
              

A. 5484--A                          2

THE ASSESSMENT ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW OR,
FOR A SCHOOL DISTRICT, A RESOLUTION PROVIDING  THAT  THE  PROVISIONS  OF
PARAGRAPH  (B) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH REAL PROPERTY
WITHIN  THAT MUNICIPAL CORPORATION; PROVIDED, HOWEVER, THE PROVISIONS OF
THIS PARAGRAPH SHALL NOT APPLY TO REAL PROPERTY OWNED  OR  LEASED  BY  A
COOPERATIVE  CORPORATION  OR ON A CONDOMINIUM BASIS THAT HAD BEEN PREVI-
OUSLY SUBJECT TO THE PROVISIONS OF PARAGRAPH  (B)  OF  THIS  SUBDIVISION
PRIOR TO JANUARY FIRST, TWO THOUSAND EIGHTEEN.
  S 3. This act shall take effect immediately and shall apply to assess-
ment rolls prepared on the basis of taxable status dates occurring on or
after January 1, 2018.