Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to real property taxation |
Jan 22, 2015 |
referred to real property taxation |
Assembly Bill A3161
2015-2016 Legislative Session
Sponsored By
TITONE
Archive: Last Bill Status - In Assembly 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
Actions
2015-A3161 (ACTIVE) - Details
2015-A3161 (ACTIVE) - Summary
Confirms eligibility for and directs the New York city department of finance to provide exemption from taxation for certain residential dwelling units in the county of Richmond; provides that the exemption benefits shall be based upon all increases in assessed valuation, whether they are physical or equalization increases; sets forth the annual exemption benefits; provides that all exemption benefits prior to the current tax year shall result in credits to be applied to future taxes
2015-A3161 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3161 2015-2016 Regular Sessions I N A S S E M B L Y January 22, 2015 ___________ Introduced by M. of A. TITONE -- read once and referred to the Committee on Real Property Taxation AN ACT to confirm eligibility for and direct the New York city depart- ment of finance to provide exemption from taxation of certain residen- tial dwelling units in the county of Richmond THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. 1. Notwithstanding any law, rule or regulation to the contrary, where certificates of eligibility for moderate rehabilitation with enriched benefits were issued by the New York city department of housing preservation and development on July 28, 2000 and January 30, 2002 for alterations and improvements constructed between 1997 and 2000 with regard to a group of eight class A multiple dwellings reflected on three separate tax lots, comprised of eleven hundred or more residential rental units located on the same residential street in the county of Richmond, exclusively occupied by low income tenants receiving benefits under section 8 of the United States housing act of 1937 whose incomes do not exceed 50 percent of the area median income, which are subject to a 50-year use agreement pursuant to the United States low-income housing preservation and resident homeownership act of 1990 and funded by at least 10 million dollars of federal subsidies, each such tax lot shall be exempt from taxation for local purposes for 34 years under section 489 of the real property tax law and section 11-243 of the administra- tive code of the city of New York. The New York city department of finance is hereby directed to comply with the provisions of this section. 2. For tax lots granted benefits under this section pursuant to certificates of eligibility issued on July 28, 2000, exemption benefits shall be based upon all increases in the buildings assessed valuation, without regard to whether such increases were the result of physical or equalization increases, as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03837-01-5
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.