Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jan 03, 2018 |
referred to housing, construction and community development |
May 04, 2017 |
referred to housing, construction and community development |
Senate Bill S5874
2017-2018 Legislative Session
Sponsored By
(D) 11th Senate District
Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development 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
2017-S5874 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9757
- Current Committee:
- Senate Housing, Construction And Community Development
- Law Section:
- Private Housing Finance Law
- Laws Affected:
- Amd §33, Priv Hous Fin L; amd §§458-a & 467, RPT L; amd §11-245.4, NYC Ad Cd
- Versions Introduced in Other Legislative Sessions:
-
2013-2014:
A9306
2015-2016: A52
2019-2020: S3913
2017-S5874 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5874 TITLE OF BILL : An act to amend the private housing finance law, the real property tax law and the administrative code of the city of New York, in relation to limited-profit housing companies and tax exemptions PURPOSE OR GENERAL IDEA OF BILL : To permit homeowner property tax exemptions for residents of limited-profit sharing housing companies who are paying into shelter rent programs. SUMMARY OF SPECIFIC PROVISIONS : Section one amends Section 33 of the private housing finance law, creating a new subdivision 7 which prevents benefits from being either limited or impaired to any eligible company or resident pursuant to sections four hundred twenty-five, four hundred fifty-eight, four hundred fifty-nine and four hundred sixty-seven of the real property tax law. Section two amends paragraph c of subdivision 6 of section 458-to allow that a tenant-stockholder residing in a dwelling that is subject to the provisions of either article two, four, five or eleven of the
2017-S5874 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5874 2017-2018 Regular Sessions I N S E N A T E May 4, 2017 ___________ Introduced by Sen. STAVISKY -- 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 private housing finance law, the real property tax law and the administrative code of the city of New York, in relation to limited-profit housing companies and tax exemptions THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 33 of the private housing finance law is amended by adding a new subdivision 7 to read as follows: 7. NOTHING CONTAINED IN THIS SECTION SHALL BE CONSTRUED TO LIMIT OR OTHERWISE IMPAIR THE BENEFITS AVAILABLE TO ANY COMPANY OR RESIDENT ELIGIBLE FOR EXEMPTION FROM TAXATION PURSUANT TO SECTIONS FOUR HUNDRED TWENTY-FIVE, FOUR HUNDRED FIFTY-EIGHT, FOUR HUNDRED FIFTY-NINE AND FOUR HUNDRED SIXTY-SEVEN OF THE REAL PROPERTY TAX LAW. § 2. Paragraph (c) of subdivision 6 of section 458-a of the real prop- erty tax law, as added by chapter 171 of the laws of 1997, is amended to read as follows: (c) [Notwithstanding paragraph (b) of this subdivision, a] A tenant- stockholder who resides in a dwelling that is subject to the provisions of either article two, four, five or eleven of the private housing finance law shall [not] be eligible for an exemption pursuant to this section. § 3. Paragraph (c) of subdivision 3-a of section 467 of the real prop- erty tax law, as amended by chapter 49 of the laws of 1996, is amended to read as follows: (c) Real property may be exempt from taxation pursuant to this subdi- vision by a municipality in which such property is located only if the governing board of such municipality, after public hearing, adopts a local law, ordinance or resolution providing therefor. [Notwithstanding any provision of law to the contrary, any] ANY local law, ordinance or EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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