Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 27, 2015 |
recommit, enacting clause stricken |
Feb 17, 2015 |
referred to housing, construction and community development |
Senate Bill S3753
2015-2016 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - Stricken
- 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
co-Sponsors
(D, WF) Senate District
(D, WF) 33rd Senate District
2015-S3753 (ACTIVE) - Details
2015-S3753 (ACTIVE) - Sponsor Memo
BILL NUMBER:S3753 TITLE OF BILL: An act to amend the real property tax law, in relation to exemptions of new multiple dwellings from local taxation PURPOSE OR GENERAL IDEA OF BILL: The purpose of this legislation is to extend the effectiveness of 421-a tax benefits for buildings whose construction commences prior to June 15, 2011. SUMMARY OF SPECIFIC PROVISIONS: This bill would make available the benefits of the 421-a program in the borough of Manhattan for new multiple dwellings on tax lots now existing or hereafter created south of or adjacent to either side of one hundred tenth street which commence construction after July 1, 1992 and before June 15, 2011, only if construction is commenced after January 1, 1975, and before June 15, 2011, provided that such commencement period shall not apply to multiple dwellings eligible for benefits under this subdivision. JUSTIFICATION: Section 421-a of the Real Property Tax Law has provided tax benefits for construction of new residential buildings in the City of New York
2015-S3753 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3753 2015-2016 Regular Sessions I N S E N A T E February 17, 2015 ___________ Introduced by Sens. ESPAILLAT, PERKINS, RIVERA -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to amend the real property tax law, in relation to exemptions of new multiple dwellings from local taxation THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The opening paragraph of clause (A) of subparagraph (iv) of paragraph (a) of subdivision 2 of section 421-a of the real property tax law, as amended by section 41 of part B of chapter 97 of the laws of 2011, is amended to read as follows: Unless excluded by local law, in the city of New York, the benefits of this subparagraph shall be available in the borough of Manhattan for new multiple dwellings on tax lots now existing or hereafter created south of or adjacent to either side of one hundred tenth street that commence construction after July first, nineteen hundred ninety-two and before June fifteenth, two thousand [fifteen] EIGHTEEN only if: S 2. Subparagraph (ii) of paragraph (c) of subdivision 2 of section 421-a of the real property tax law, as amended by section 42 of part B of chapter 97 of the laws of 2011, is amended to read as follows: (ii) construction is commenced after January first, nineteen hundred seventy-five and before June fifteenth, two thousand [fifteen] EIGHTEEN provided, however, that such commencement period shall not apply to multiple dwellings eligible for benefits under subparagraph (iv) of paragraph (a) of this subdivision; S 3. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08784-01-5
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