Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 31, 2016 |
referred to local government |
Senate Bill S7957
2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Local Government 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-S7957 (ACTIVE) - Details
2015-S7957 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7957 TITLE OF BILL : An act to amend the real property tax law, in relation to changes in assessment for businesses that make payments in lieu of taxes PURPOSE : This bill ensures that adjustments to payments in lieu of taxes (PILOTs) based on a change of assessment do not affect school districts in the middle their fiscal year. Instead, the change of assessment will take effect once the school's fiscal year has ended. SUMMARY OF PROVISIONS : The real property tax law is amended by adding a new section 561 to require that when PILOT property assessments are changed through the grievance process, any reduction does not take effect until the following fiscal school year. JUSTIFICATION : Businesses can be enticed to areas through the development incentive know as payment in lieu of taxes (PILOTs). The program reduces property taxes for certain businesses in exchange for payments to the
2015-S7957 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7957 I N S E N A T E May 31, 2016 ___________ Introduced by Sen. MARCELLINO -- 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 changes in assessment for businesses that make payments in lieu of taxes 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 561 to read as follows: S 561. PAYMENTS IN LIEU OF TAXES; CHANGE OF ASSESSMENT; EFFECTIVE DATE. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, WHEN A PAYMENT IN LIEU OF TAXES PROPERTY ASSESSMENT IS CHALLENGED THROUGH THE GRIEVANCE PROCESS, ANY REDUCTION IN SCHOOL TAXES THAT IS AWARDED SHALL NOT TAKE EFFECT UNTIL THE FOLLOWING TAXABLE STATUS YEAR. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02490-04-6
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