Assembly Bill A941

2017-2018 Legislative Session

Requires financial institutions to notify property tax assessors when they take possession of real property receiving a STAR exemption

download bill text pdf

Sponsored By

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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

2017-A941 (ACTIVE) - Details

See Senate Version of this Bill:
S1602
Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §425, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: A9675, S7485
2015-2016: A155, S326

2017-A941 (ACTIVE) - Summary

Requires financial institutions to notify real property tax assessors when they take possession of real property receiving a STAR exemption.

2017-A941 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
     S. 1602                                                   A. 941
 
                        2017-2018 Regular Sessions
 
                       S E N A T E - A S S E M B L Y
 
                             January 10, 2017
                                ___________
 
 IN  SENATE -- Introduced by Sens. LAVALLE, MARCHIONE, RITCHIE, SEWARD --
   read twice and ordered printed, and when printed to  be  committed  to
   the Committee on Local Government
 
 IN  ASSEMBLY  -- Introduced by M. of A. THIELE -- read once and referred
   to the Committee on Real Property Taxation

 AN ACT to amend the real property tax law, in  relation  to  school  tax
   relief (STAR) exemptions
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 425 of the real property  tax  law  is  amended  by
 adding a new subdivision 17 to read as follows:
   17.  FINANCIAL  INSTITUTION.  (A) WHENEVER A FINANCIAL INSTITUTION, AS
 DEFINED BY PARAGRAPH (E) OF SUBDIVISION TWO OF  SECTION  5-1501  OF  THE
 GENERAL  OBLIGATIONS LAW, TAKES POSSESSION OF REAL PROPERTY WHICH QUALI-
 FIES FOR AN EXEMPTION PURSUANT TO THIS SECTION, SUCH FINANCIAL  INSTITU-
 TION  SHALL  NOTIFY  THE  ASSESSOR OR OTHER PERSON HAVING CUSTODY OF THE
 ASSESSMENT ROLL IN THE LOCALITY IN WHICH SUCH REAL PROPERTY  IS  LOCATED
 WITHIN  THIRTY DAYS OF TAKING SUCH POSSESSION, UPON WHICH SUCH EXEMPTION
 SHALL BE IMMEDIATELY DISCONTINUED.
   (B) ANY FINANCIAL INSTITUTION THAT VIOLATES ANY PROVISION OF PARAGRAPH
 (A) OF THIS SUBDIVISION SHALL BE LIABLE  FOR  A  CIVIL  PENALTY  NOT  TO
 EXCEED FIVE THOUSAND DOLLARS.
   §  2.  This  act shall take effect on the thirtieth day after it shall
 have become a law.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02101-01-7

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.