S T A T E   O F   N E W   Y O R K
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                                  10430

                          I N  A S S E M B L Y

                              May 27, 2016
                               ___________

Introduced  by  M. of A. SKOUFIS, ZEBROWSKI -- read once and referred to
  the Committee on Ways and Means

AN ACT to amend the tax law and the administrative code of the  city  of
  New  York in relation to real property transfer tax returns of limited
  liability companies

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

  Section 1.  Subdivision (a) of section 1409 of the tax law, as amended
by chapter 309 of the laws of 1996, is amended to read as follows:
  (a)  A joint return shall be filed by both the grantor and the grantee
for each conveyance whether or not a tax is due  thereon  other  than  a
conveyance  of  an easement or license to a public utility as defined in
subdivision two of section one hundred eighty-six-a of this  chapter  or
to a public utility which is a provider of telecommunication services as
defined  in  subdivision one of section one hundred eighty-six-e of this
chapter, where the consideration is two dollars or less and  is  clearly
stated as actual consideration in the instrument of conveyance. WHEN THE
GRANTOR  OR  GRANTEE  OF A DEED FOR RESIDENTIAL REAL PROPERTY CONTAINING
ONE- TO FOUR-FAMILY DWELLING UNITS IS A LIMITED LIABILITY  COMPANY,  THE
JOINT  RETURN  SHALL NOT BE ACCEPTED FOR FILING UNLESS IT IS ACCOMPANIED
BY A DOCUMENT WHICH IDENTIFIES THE NAMES AND BUSINESS ADDRESSES  OF  ALL
MEMBERS,  MANAGERS,  AND  ANY  OTHER AUTHORIZED PERSONS, IF ANY, OF SUCH
LIMITED LIABILITY COMPANY AND THE NAMES AND BUSINESS  ADDRESSES  OR,  IF
NONE,  THE  BUSINESS ADDRESSES OF ALL SHAREHOLDERS, DIRECTORS, OFFICERS,
MEMBERS, MANAGERS AND PARTNERS OF ANY LIMITED LIABILITY COMPANY OR OTHER
BUSINESS ENTITY THAT ARE TO  BE  THE  MEMBERS,  MANAGERS  OR  AUTHORIZED
PERSONS,  IF  ANY, OF SUCH LIMITED LIABILITY COMPANY. THE IDENTIFICATION
OF SUCH NAMES AND ADDRESSES SHALL NOT BE DEEMED AN UNWARRANTED  INVASION
OF  PERSONAL PRIVACY PURSUANT TO ARTICLE SIX OF THE PUBLIC OFFICERS LAW.
IF ANY SUCH MEMBER, MANAGER OR AUTHORIZED PERSON OF THE LIMITED  LIABIL-
ITY  COMPANY  IS  ITSELF  A  LIMITED LIABILITY COMPANY OR OTHER BUSINESS
ENTITY, THE NAMES AND ADDRESSES OF THE  SHAREHOLDERS,  DIRECTORS,  OFFI-
CERS, MEMBERS, MANAGERS AND PARTNERS OF THE LIMITED LIABILITY COMPANY OR
OTHER  BUSINESS  ENTITY SHALL ALSO BE DISCLOSED UNTIL FULL DISCLOSURE OF

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

                                                           LBD15641-03-6

A. 10430                            2

ULTIMATE OWNERSHIP BY NATURAL PERSONS IS ACHIEVED. FOR PURPOSES OF  THIS
SUBDIVISION,  THE  TERMS  "MEMBERS",  "MANAGERS",  "AUTHORIZED  PERSON",
"LIMITED LIABILITY COMPANY" AND "OTHER BUSINESS ENTITY" SHALL  HAVE  THE
SAME  MEANING  AS  THOSE TERMS ARE DEFINED IN SECTION ONE HUNDRED TWO OF
THE LIMITED LIABILITY COMPANY LAW. The return shall be  filed  with  the
recording  officer before the instrument effecting the conveyance may be
recorded. However, if the tax is paid to the  commissioner  pursuant  to
section  fourteen hundred ten of this article, the return shall be filed
with such commissioner at the time the tax is paid. In that instance,  a
receipt evidencing the filing of the return and the payment of tax shall
be  filed with the recording officer before the instrument effecting the
conveyance may be recorded. The  recording  officer  shall  handle  such
receipt in the same manner as a return filed with the recording officer.
  S  2.  Section  11-2105  of the administrative code of the city of New
York is amended by adding a new subdivision h to read as follows:
  H. WHEN THE GRANTOR OR GRANTEE OF A DEED FOR RESIDENTIAL REAL PROPERTY
CONTAINING ONE- TO FOUR-FAMILY DWELLING UNITS  IS  A  LIMITED  LIABILITY
COMPANY,  THE JOINT RETURN SHALL NOT BE ACCEPTED FOR FILING UNLESS IT IS
ACCOMPANIED BY A  DOCUMENT  WHICH  IDENTIFIES  THE  NAMES  AND  BUSINESS
ADDRESSES OF ALL MEMBERS, MANAGERS, AND ANY OTHER AUTHORIZED PERSONS, IF
ANY,  OF  SUCH  LIMITED  LIABILITY  COMPANY  AND  THE NAMES AND BUSINESS
ADDRESSES OR, IF NONE,  THE  BUSINESS  ADDRESSES  OF  ALL  SHAREHOLDERS,
DIRECTORS,  OFFICERS,  MEMBERS,  MANAGERS  AND  PARTNERS  OF ANY LIMITED
LIABILITY COMPANY OR OTHER BUSINESS ENTITY THAT ARE TO BE  THE  MEMBERS,
MANAGERS OR AUTHORIZED PERSONS, IF ANY, OF SUCH LIMITED LIABILITY COMPA-
NY.   THE IDENTIFICATION OF SUCH NAMES AND ADDRESSES SHALL NOT BE DEEMED
AN UNWARRANTED INVASION OF PERSONAL PRIVACY PURSUANT TO ARTICLE  SIX  OF
THE  PUBLIC  OFFICERS  LAW.    IF ANY SUCH MEMBER, MANAGER OR AUTHORIZED
PERSON OF THE LIMITED LIABILITY COMPANY IS ITSELF  A  LIMITED  LIABILITY
COMPANY  OR OTHER BUSINESS ENTITY, THE NAMES AND ADDRESSES OF THE SHARE-
HOLDERS, DIRECTORS, OFFICERS, MEMBERS,  MANAGERS  AND  PARTNERS  OF  THE
LIMITED  LIABILITY  COMPANY  OR  OTHER  BUSINESS  ENTITY  SHALL  ALSO BE
DISCLOSED UNTIL FULL DISCLOSURE OF ULTIMATE OWNERSHIP BY NATURAL PERSONS
IS ACHIEVED. FOR PURPOSES OF  THIS  SUBDIVISION,  THE  TERMS  "MEMBERS",
"MANAGERS",  "AUTHORIZED PERSON", "LIMITED LIABILITY COMPANY" AND "OTHER
BUSINESS ENTITY" SHALL HAVE THE SAME MEANING AS THOSE TERMS ARE  DEFINED
IN SECTION ONE HUNDRED TWO OF THE LIMITED LIABILITY COMPANY LAW.
  S 3. This act shall take effect immediately.