S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10288
 
                           I N  A S S E M B L Y
 
                              April 10, 2018
                                ___________
 
 Introduced by M. of A. CUSICK -- read once and referred to the Committee
   on Cities
 
 AN  ACT to amend the general municipal law, in relation to the exclusion
   of uncollectible taxes from the limitation on real estate taxes in New
   York city
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  Section  3-b  of  the general municipal law is amended by
 adding three new subdivisions 3, 4 and 5 to read as follows:
   3. THE AMOUNT TO BE RAISED BY TAX ON REAL ESTATE IN  ANY  FISCAL  YEAR
 COMMENCING ON OR AFTER JULY FIRST, TWO THOUSAND SEVENTEEN BY THE CITY OF
 NEW  YORK  AND  THE  COUNTIES  CONTAINED  THEREIN  FOR  CITY  AND COUNTY
 PURPOSES, IN ADDITION TO PROVIDING FOR THE INTEREST ON AND THE PRINCIPAL
 OF ALL INDEBTEDNESS DESCRIBED IN SUBDIVISION ONE OF THIS SECTION,  SHALL
 ONLY  INCLUDE  AN ADDITIONAL AMOUNT FOR A RESERVE FOR THOSE TAXES, WHICH
 IT ESTIMATES IN EACH BUDGET YEAR IN GOOD FAITH WILL BE UNCOLLECTIBLE FOR
 THE PAYMENT OF SUCH INDEBTEDNESS, MINUS ANY AMOUNT COLLECTED DURING  THE
 FISCAL  YEAR BY THE CITY OF NEW YORK FROM PRIOR LEVIES INCLUDING BY REAL
 PROPERTY TAX LIEN SALES.
   4. FOR PURPOSES OF THIS SECTION, THE TERM "UNCOLLECTIBLE"  SHALL  MEAN
 AN  ESTIMATE OF THE AMOUNT THAT TAXPAYERS DO NOT PAY BECAUSE THEY CANNOT
 PAY OR BECAUSE THEY CHOOSE NOT TO PAY.
   5. THE RESERVE WHICH THE CITY OF NEW YORK AND THE  COUNTIES  CONTAINED
 THEREIN ESTIMATES SHALL BE UNCOLLECTIBLE FOR THE PAYMENT OF SUCH INDEBT-
 EDNESS  SHALL  NOT INCLUDE ANY ABATEMENT OR EXEMPTION AMOUNTS INCLUDING,
 BUT NOT LIMITED TO, THOSE ABATEMENT  AMOUNTS  AS  AUTHORIZED  BY:    (A)
 SECTION  FOUR  HUNDRED  SIXTY-SEVEN-A  OF THE REAL PROPERTY TAX LAW; (B)
 SECTION FOUR HUNDRED SIXTY-SEVEN-B OF THE REAL  PROPERTY  TAX  LAW;  (C)
 SECTION  FOUR  HUNDRED  SIXTY-SEVEN-C  OF THE REAL PROPERTY TAX LAW; (D)
 SECTION FOUR HUNDRED SIXTY-SEVEN-F OF THE REAL  PROPERTY  TAX  LAW;  (E)
 SECTION  FOUR  HUNDRED  SIXTY-SEVEN-H  OF THE REAL PROPERTY TAX LAW; (F)
 SECTION FOUR HUNDRED SIXTY-SEVEN-I OF THE REAL  PROPERTY  TAX  LAW;  (G)
 SECTION  FOUR  HUNDRED  EIGHTY-NINE  OF  THE  REAL PROPERTY TAX LAW; (H)
 SECTION FOUR HUNDRED NINETY-NINE-B OF THE REAL  PROPERTY  TAX  LAW;  (I)
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD02819-01-7

 A. 10288                            2

 SECTION  SIXTY-FIVE  OF  CHAPTER  TWENTY  OF  THE  LAWS  OF TWO THOUSAND
 FIFTEEN, OR ANY OTHER STATUTE AUTHORIZING THE ABATEMENT OR EXEMPTION  OF
 REAL PROPERTY TAXES.
   § 2. This act shall take effect immediately.