NY State Senate Bill 2015-S7702

Archive: Last Bill Status Via A2384 - Signed by Governor

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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Sep 29, 2016	signed chap.334
Sep 20, 2016	delivered to governor
Jun 09, 2016	returned to assembly passed senate 3rd reading cal.1654 substituted for s7702
Jun 09, 2016	substituted by a2384a ordered to third reading cal.1654 committee discharged and committed to rules
May 12, 2016	referred to local government

Votes

- Jun 9, 2016 - Floor Vote
  A2384
  
  61
  
  Aye
  
  0
  
  Nay
  
  0
  
  Absent
  
  2
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Jun 9, 2016
      
      aye (61)
      
      Addabbo Jr.
      
      Akshar
      
      Amedore
      
      Avella
      
      Bonacic
      
      Boyle
      
      Breslin
      
      Carlucci
      
      Comrie
      
      Croci
      
      DeFrancisco
      
      Dilan
      
      Espaillat
      
      Farley
      
      Felder
      
      Flanagan
      
      Funke
      
      Gallivan
      
      Gianaris
      
      Golden
      
      Griffo
      
      Hamilton
      
      Hannon
      
      Hassell-Thompson
      
      Hoylman-Sigal
      
      Kaminsky
      
      Kennedy
      
      Klein
      
      Krueger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Latimer
      
      Little
      
      Marcellino
      
      Marchione
      
      Martins
      
      Montgomery
      
      Murphy
      
      Nozzolio
      
      O'Mara
      
      Ortt
      
      Parker
      
      Peralta
      
      Perkins
      
      Persaud
      
      Ranzenhofer
      
      Ritchie
      
      Rivera
      
      Robach
      
      Sanders Jr.
      
      Savino
      
      Serino
      
      Serrano
      
      Seward
      
      Squadron
      
      Stavisky
      
      Stewart-Cousins
      
      Valesky
      
      Venditto
      
      Young
      
      excused (2)
      
      Diaz
      
      Panepinto
  Jun 9, 2016 - Rules Committee Vote
  S7702
  
  22
  
  Aye
  
  0
  
  Nay
  
  2
  
  Aye with Reservations
  
  1
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Rules Committee Vote: Jun 9, 2016
      
      aye (22)
      
      Breslin
      
      Carlucci
      
      DeFrancisco
      
      Dilan
      
      Espaillat
      
      Farley
      
      Flanagan
      
      Gianaris
      
      Hannon
      
      Hassell-Thompson
      
      LaValle
      
      Lanza
      
      Larkin
      
      Little
      
      Marcellino
      
      Montgomery
      
      Nozzolio
      
      Parker
      
      Robach
      
      Seward
      
      Stewart-Cousins
      
      Valesky
      
      aye wr (2)
      
      Krueger
      
      Perkins
      
      absent (1)
      
      Bonacic

2015-S7702 (ACTIVE) - Details

See Assembly Version of this Bill:: A2384
Law Section:: Real Property Tax Law
Laws Affected:: Add §485-s, RPT L
Versions Introduced in 2013-2014 Legislative Session:: A9328

2015-S7702 (ACTIVE) - Summary

Relates to a mixed use exemption program in certain villages.

2015-S7702 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S7702

 TITLE OF BILL :  An act to amend the real property tax law, in
relation to a mixed use exemption program in certain villages

 PURPOSE :

The measure is intended to authorize the Village of Wappingers Falls
in New York State to grant a property investment exemption for the
purpose of promoting redevelopment of vacant and blighted properties
for mixed-use.

 SUMMARY OF PROVISIONS :

Section 1 adds a new section 485-s to the real property tax law to
create mixed-use exemptions for villages with a population greater
than 5,500 less than 5,600. This section provides definitions of
"applicant" and "mixed-use property" and clarifies that newly
constructed mixed-use property shall be exempt as well.

The exemption includes an opt-in provision where, upon adoption, the
county and towns and school districts in which the village is located
may exempt these mixed-use properties from taxation in the same manner
and to the same extent as such village has done.

Such real property would initially be exempt to the extent of 90% of

the increase in assessed value attributable to such construction and
for a period of 20 years where the percentage of the exemption would
decrease by no less than 5% each year during the additional period of
20 years. Exemption shall be computed with respect to the "exemption
base," which is the increase in assessed value as determined by the
previous year's assessed value.

The 485-s application shall be prescribed by the commissioner,
completed by the applicant, and submitted to the assessor. It will
apply to construction that takes place after the village's local law
takes effect. The exemption, however, shall not be granted
concurrently or subsequent to any other real property tax exemption
granted for the same improvements unless payments in lieu of taxes
were made to the local government equal to or greater than the amount
which would have been owed for the assessed value of the improvements.

Section 2 sets an immediate effective date

 JUSTIFICATION :

It is vital that New York empowers municipalities to take positive
steps to create jobs, grow their economies and improve their tax base,
however high property taxes can be a hindrance to such progress. New
York has recognized that appropriate tax exemptions offer
municipalities the flexibility to allow local property owners the
opportunity to improve the quality of their property and community
without having the anxiety of being punished with higher property
taxes in the short-term.

This new section, 485-s, adds to over a dozen other Real Property Tax
Exemptions that allow other municipalities to offer these types of
incentives in a way that works best for their community. Although
modeled after section 485-a, section 485-s is unique in that it
assists the Village of Wappingers Falls in creating effective
public-private partnerships to build anew after demolishing extremely
unsafe buildings that are contaminated from industrial use. The new
structures will be mixed-use, holding new businesses and housing while
also improving the streetscape. New York's Real Property Tax
Exemptions are aimed to create more economic opportunities for

residents in numerous municipalities. This legislation is in line with
that principle.

 LEGISLATIVE HISTORY :

S.6689-A (2014): Advanced to third reading

 FISCAL IMPLICATIONS :

Allows local municipalities to offer tax exemptions which would exempt
only the increased value in assessment related to improvements. This
bill has no impact on current revenues, but would likely raise other
forms of local and state revenue related to increased economic
activity.

 EFFECTIVE DATE :
This act shall take effect immediately.

2015-S7702 (ACTIVE) - Bill Text download pdf

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

                                  7702

                            I N  S E N A T E

                              May 12, 2016
                               ___________

Introduced  by  Sen.  SERINO -- 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  mixed  use
  exemption program in certain villages

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

  Section 1. The real property tax  law  is  amended  by  adding  a  new
section 485-s to read as follows:
  S  485-S. MIXED USE EXEMPTION PROGRAM FOR VILLAGES. 1. AS USED IN THIS
SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
  (A) "APPLICANT" MEANS ANY PERSON OBLIGATED TO PAY REAL PROPERTY  TAXES
ON  THE  PROPERTY  FOR WHICH AN EXEMPTION FROM REAL PROPERTY TAXES UNDER
THIS SECTION IS SOUGHT.
  (B) "MIXED-USE PROPERTY" MEANS PROPERTY WITH A BUILDING  OR  STRUCTURE
USED FOR BOTH RESIDENTIAL AND COMMERCIAL PURPOSES.
  (C)  "PERSON"  MEANS  AN  INDIVIDUAL,  CORPORATION,  LIMITED LIABILITY
COMPANY, PARTNERSHIP, ASSOCIATION, AGENCY,  TRUST,  ESTATE,  FOREIGN  OR
DOMESTIC GOVERNMENT OR SUBDIVISION THEREOF, OR OTHER ENTITY.
  2.  ANY  VILLAGE  WITH  A  POPULATION  GREATER THAN FIVE THOUSAND FIVE
HUNDRED AND LESS THAN FIVE THOUSAND SIX HUNDRED BASED  UPON  THE  LATEST
DECENNIAL  CENSUS  MAY,  BY LOCAL LAW, PROVIDE FOR THE EXEMPTION OF REAL
PROPERTY FROM TAXATION AS PROVIDED IN THIS SECTION. UPON THE ADOPTION OF
SUCH A LOCAL LAW, THE COUNTY AND TOWN IN WHICH SUCH VILLAGE  IS  LOCATED
MAY,  BY  LOCAL  LAW,  AND  ANY SCHOOL DISTRICT, ALL OR PART OF WHICH IS
LOCATED IN SUCH VILLAGE, MAY, BY RESOLUTION, EXEMPT SUCH  PROPERTY  FROM
ITS  TAXATION  IN THE SAME MANNER AND TO THE SAME EXTENT AS SUCH VILLAGE
HAS DONE.
  3. UPON THE ADOPTION OF SUCH A LOCAL LAW, NEWLY CONSTRUCTED  MIXED-USE
PROPERTY, SHALL BE EXEMPT FROM TAXATION AND SPECIAL AD VALOREM LEVIES AS
PROVIDED FOR IN SUBDIVISION FOUR OF THIS SECTION.
  4.  (A)  FOR A PERIOD OF TWENTY YEARS FROM THE APPROVAL OF AN APPLICA-
TION, THE INCREASE IN ASSESSED VALUE OF SUCH  PROPERTY  ATTRIBUTABLE  TO
SUCH  CONSTRUCTION  SHALL BE EXEMPT AS PROVIDED IN PARAGRAPH (B) OF THIS
SUBDIVISION. SUCH EXEMPTION  SHALL  BE  COMPUTED  WITH  RESPECT  TO  THE
"EXEMPTION  BASE".  THE EXEMPTION BASE SHALL BE DETERMINED FOR EACH YEAR
IN WHICH THERE IS AN INCREASE IN ASSESSED  VALUE  SO  ATTRIBUTABLE  FROM
THAT OF THE PREVIOUS YEAR'S ASSESSED VALUE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05141-04-6

S. 7702                             2

  (B)  THE  FOLLOWING  TABLE SHALL ILLUSTRATE THE COMPUTATION OF THE TAX
EXEMPTION:
YEAR OF EXEMPTION             PERCENTAGE OF EXEMPTION
1-2                           90% OF EXEMPTION BASE
  3                           80% OF EXEMPTION BASE
  4                           75% OF EXEMPTION BASE
  5                           70% OF EXEMPTION BASE
  6                           65% OF EXEMPTION BASE
  7                           60% OF EXEMPTION BASE
  8                           55% OF EXEMPTION BASE
  9                           50% OF EXEMPTION BASE
 10                           45% OF EXEMPTION BASE
 11                           40% OF EXEMPTION BASE
 12                           35% OF EXEMPTION BASE
 13                           30% OF EXEMPTION BASE
 14                           25% OF EXEMPTION BASE
 15                           20% OF EXEMPTION BASE
 16                           15% OF EXEMPTION BASE
 17-18                        10% OF EXEMPTION BASE
 19-20                        5% OF EXEMPTION BASE
  (C)  NO  SUCH  EXEMPTION SHALL BE GRANTED UNLESS SUCH CONSTRUCTION WAS
COMMENCED SUBSEQUENT TO THE DATE ON WHICH THE VILLAGE'S LOCAL  LAW  TOOK
EFFECT.
  (D)  NO  SUCH EXEMPTION SHALL BE GRANTED CONCURRENT WITH OR SUBSEQUENT
TO ANY OTHER REAL PROPERTY TAX EXEMPTION GRANTED TO  THE  SAME  IMPROVE-
MENTS TO REAL PROPERTY, EXCEPT, WHERE DURING THE PERIOD OF SUCH PREVIOUS
EXEMPTION,  PAYMENTS IN LIEU OF TAXES OR OTHER PAYMENTS WERE MADE TO THE
LOCAL GOVERNMENT IN AN AMOUNT THAT WOULD HAVE BEEN EQUAL TO  OR  GREATER
THAN THE AMOUNT OF REAL PROPERTY TAXES THAT WOULD HAVE BEEN PAID ON SUCH
IMPROVEMENTS  HAD  SUCH  PROPERTY  BEEN GRANTED AN EXEMPTION PURSUANT TO
THIS SECTION.  IN SUCH CASE, AN EXEMPTION SHALL BE GRANTED FOR A  NUMBER
OF  YEARS  EQUAL  TO  THE TWENTY YEAR EXEMPTION GRANTED PURSUANT TO THIS
SECTION LESS THE NUMBER OF YEARS THE PROPERTY WOULD HAVE BEEN PREVIOUSLY
EXEMPT FROM REAL PROPERTY TAXES.
  5. SUCH EXEMPTION SHALL BE GRANTED ONLY UPON APPLICATION BY THE  OWNER
OF  SUCH  REAL  PROPERTY  ON A FORM PRESCRIBED BY THE COMMISSIONER. SUCH
APPLICATION SHALL BE FILED WITH THE ASSESSOR ON OR BEFORE THE  APPROPRI-
ATE TAXABLE STATUS DATE.
  6.  IF  THE ASSESSOR IS SATISFIED THAT THE APPLICANT IS ENTITLED TO AN
EXEMPTION PURSUANT TO THIS SECTION, HE OR SHE SHALL APPROVE THE APPLICA-
TION AND SUCH REAL PROPERTY SHALL THEREAFTER BE EXEMPT FROM TAXATION AND
SPECIAL AD VALOREM LEVIES AS PROVIDED IN THIS  SECTION  COMMENCING  WITH
THE  ASSESSMENT  ROLL PREPARED AFTER THE TAXABLE STATUS DATE REFERRED TO
IN SUBDIVISION FIVE OF THIS SECTION. THE ASSESSED VALUE OF ANY EXEMPTION
GRANTED PURSUANT TO THIS SECTION SHALL BE ENTERED BY THE ASSESSOR ON THE
ASSESSMENT ROLL WITH THE  TAXABLE  PROPERTY,  WITH  THE  AMOUNT  OF  THE
EXEMPTION SHOWN IN A SEPARATE COLUMN.
  7.  A  LOCAL LAW OR RESOLUTION ADOPTED PURSUANT TO THIS SECTION MAY BE
REPEALED BY THE GOVERNING BODY OF THE APPLICABLE VILLAGE, COUNTY,  TOWN,
OR SCHOOL DISTRICT, PROVIDED THAT SUCH REPEAL SHALL OCCUR AT LEAST NINE-
TY DAYS PRIOR TO THE APPLICABLE TAXABLE STATUS DATE AND PROVIDED FURTHER
THAT  NO  SUCH LOCAL LAW OR RESOLUTION SHALL REPEAL AN EXEMPTION GRANTED
PURSUANT TO THIS SECTION UNTIL THE EXPIRATION OF THE  PERIOD  FOR  WHICH
SUCH EXEMPTION WAS GRANTED.
  S 2. This act shall take effect immediately.

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Senate Bill S7702

Sponsored By

Archive: Last Bill Status Via A2384 - Signed by Governor

Jun 9, 2016 - Floor Vote

Floor Vote: Jun 9, 2016

Jun 9, 2016 - Rules Committee Vote

Rules Committee Vote: Jun 9, 2016

2015-S7702 (ACTIVE) - Details

2015-S7702 (ACTIVE) - Summary

2015-S7702 (ACTIVE) - Sponsor Memo

2015-S7702 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S7702

Share this bill

Sponsored By

Susan Serino

Archive: Last Bill Status Via A2384 - Signed by Governor

2015-S7702 (ACTIVE) - Details

2015-S7702 (ACTIVE) - Summary

2015-S7702 (ACTIVE) - Sponsor Memo

2015-S7702 (ACTIVE) - Bill Text download pdf

Comments