S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4540--A
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 4, 2019
                                ___________
 
 Introduced by M. of A. GLICK, O'DONNELL, GOTTFRIED, L. ROSENTHAL, REYES,
   RIVERA, DINOWITZ, SIMOTAS, JEAN-PIERRE, EPSTEIN, WEPRIN, NIOU, LENTOL,
   RICHARDSON,  CRUZ,  TAYLOR,  MOSLEY,  STECK,  QUART,  SEAWRIGHT, FAHY,
   ORTIZ, BENEDETTO, JACOBSON, FERNANDEZ,  PICHARDO,  BURKE,  DE LA ROSA,
   SIMON,  BUTTENSCHON,  DenDEKKER,  LIFTON,  BUCHWALD,  SAYEGH,  HUNTER,
   JOYNER, CARROLL, WOERNER, McDONALD, GUNTHER, RAMOS, GRIFFIN, JONES  --
   Multi-Sponsored by -- M. of A. ARROYO, NOLAN -- read once and referred
   to  the  Committee  on  Real  Property  Taxation -- recommitted to the
   Committee on Real Property Taxation in accordance with  Assembly  Rule
   3,  sec. 2 -- committee discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee
 
 AN ACT to amend the real property tax law, in relation  to  imposing  an
   additional  tax  on  certain non-primary residence class one and class
   two properties in a city with a population of one million or more
 
   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 307-b to read as follows:
   § 307-B. ADDITIONAL TAX ON CERTAIN NON-PRIMARY RESIDENCE PROPERTIES IN
 A CITY WITH A POPULATION OF ONE MILLION OR MORE. 1. GENERALLY.  NOTWITH-
 STANDING  ANY  PROVISION  OF  ANY  GENERAL, SPECIFIC OR LOCAL LAW TO THE
 CONTRARY, ANY CITY WITH A POPULATION OF ONE MILLION OR  MORE  IS  HEREBY
 AUTHORIZED  AND  EMPOWERED  TO  ADOPT AND AMEND LOCAL LAWS IN ACCORDANCE
 WITH THIS SECTION IMPOSING AN  ADDITIONAL  TAX  ON  CERTAIN  RESIDENTIAL
 PROPERTIES AND DWELLING UNITS.
   2.  DEFINITIONS.  AS USED IN THIS SECTION:  (A) "ASSESSED VALUE" MEANS
 THE DETERMINATION MADE BY THE ASSESSORS OF A CITY HAVING A POPULATION OF
 ONE MILLION OR MORE OF THE VALUATION OF REAL PROPERTY.
   (B) "ASSESSED VALUE ATTRIBUTABLE TO A  TENANT-STOCKHOLDER"  MEANS  THE
 PROPORTION OF THE ASSESSED VALUE OF REAL PROPERTY OWNED BY A COOPERATIVE
 APARTMENT  CORPORATION,  REPRESENTED  BY A TENANT-STOCKHOLDER'S SHARE OR
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD04076-05-0

 A. 4540--A                          2
 
 SHARES OF STOCK IN SUCH  CORPORATION  AS  DETERMINED  BY  ITS  OR  THEIR
 PROPORTIONAL  RELATIONSHIP  TO THE TOTAL OUTSTANDING STOCK OF THE CORPO-
 RATION, INCLUDING THAT OWNED BY THE CORPORATION.
   (C)  "COMMISSIONER  OF FINANCE" MEANS THE COMMISSIONER OF FINANCE OF A
 CITY HAVING A POPULATION OF ONE MILLION OR MORE, OR HIS OR HER DESIGNEE.
   (D) "DEPARTMENT OF FINANCE" MEANS THE DEPARTMENT OF FINANCE OF A  CITY
 HAVING A POPULATION OF ONE MILLION OR MORE.
   (E)  "FIVE-YEAR  AVERAGE MARKET VALUE" SHALL MEAN THE AVERAGE MONETARY
 VALUE OF A PROPERTY FOR THE PREVIOUS  FIVE  YEARS,  USING  A  COMPARABLE
 SALE-BASED VALUATION METHOD, AS DETERMINED BY THE DEPARTMENT OF FINANCE.
   3.  ADDITIONAL  TAX.  (A) A LOCAL LAW ENACTED PURSUANT TO THIS SECTION
 MAY PROVIDE FOR A TAX AS FOLLOWS FOR FISCAL YEARS BEGINNING ON OR  AFTER
 JULY FIRST, TWO THOUSAND TWENTY-ONE:
   (I)  FOR  ONE, TWO OR THREE FAMILY RESIDENCES WITH A FIVE-YEAR AVERAGE
 MARKET VALUE OF FIVE MILLION DOLLARS OR HIGHER, A TAX OF AT  LEAST  ONE-
 HALF  PERCENT  AND  NO MORE THAN FOUR PERCENT ON THE EXCESS MARKET VALUE
 ABOVE FIVE MILLION DOLLARS.
   (II) FOR RESIDENTIAL REAL PROPERTY HELD IN  THE  CONDOMINIUM  FORM  OF
 OWNERSHIP  WITH  AN  ASSESSED VALUE OF THREE HUNDRED THOUSAND DOLLARS OR
 HIGHER, A TAX OF AT LEAST TEN PERCENT AND  NO  MORE  THAN  THIRTEEN  AND
 ONE-HALF  PERCENT OF THE EXCESS ASSESSED VALUE ABOVE THREE HUNDRED THOU-
 SAND DOLLARS.
   (III) FOR DWELLING UNITS IN A PROPERTY HELD IN THE COOPERATIVE FORM OF
 OWNERSHIP WITH AN ASSESSED VALUE ATTRIBUTABLE TO A TENANT-STOCKHOLDER OF
 THREE HUNDRED THOUSAND DOLLARS OR HIGHER, A TAX OF AT LEAST TEN  PERCENT
 AND  NO  MORE  THAN THIRTEEN AND ONE-HALF PERCENT OF THE EXCESS ASSESSED
 VALUE ABOVE THREE HUNDRED THOUSAND DOLLARS. THE ADDITIONAL TAXES ATTRIB-
 UTABLE TO EACH TENANT-STOCKHOLDER SHALL  BE  ADDED  BY  THE  COOPERATIVE
 APARTMENT  CORPORATION  TO THE AMOUNT OF SUCH TAXES OTHERWISE PAYABLE BY
 OR CHARGEABLE TO SUCH TENANT-STOCKHOLDER.
   (B) SUBJECT TO THE LIMITATIONS ESTABLISHED IN PARAGRAPH  (A)  OF  THIS
 SUBDIVISION,  ANY SUCH LOCAL LAW MAY ESTABLISH A GRADUATED RATE SCHEDULE
 FOR IMPOSING SUCH TAX, AT RATES AND EXCESS VALUE THRESHOLDS AS THE LOCAL
 LEGISLATIVE BODY DETERMINES APPROPRIATE.
   (C) EXCEPT AS OTHERWISE PROVIDED IN THIS  SECTION,  SUCH  TAX  MAY  BE
 IMPOSED,  ADMINISTERED,  COLLECTED  AND  ENFORCED BY THE COMMISSIONER OF
 FINANCE OF SUCH CITY BY SUCH MEANS AND IN SUCH  MANNER  AS  OTHER  TAXES
 THAT  ARE  NOW  IMPOSED,  ADMINISTERED,  COLLECTED  AND ENFORCED BY SUCH
 COMMISSIONER IN ACCORDANCE WITH THE CHARTER OR  ADMINISTRATIVE  CODE  OF
 ANY SUCH CITY OR AS OTHERWISE MAY BE PROVIDED BY ANY SUCH LOCAL LAW.
   4.  EXEMPTIONS. (A) A LOCAL LAW ENACTED PURSUANT TO THIS SECTION SHALL
 INCLUDE AN EXEMPTION FROM THE ADDITIONAL  TAX  IMPOSED  FOR  RESIDENTIAL
 PROPERTIES  OR  DWELLING UNITS THAT ARE: (I) THE PRIMARY RESIDENCE OF AT
 LEAST ONE OWNER OF THE PROPERTY OR DWELLING UNIT; (II) THE PRIMARY RESI-
 DENCE OF A PARENT OR CHILD OF AT LEAST ONE  OWNER  OF  THE  PROPERTY  OR
 DWELLING  UNIT;  OR  (III)  RENTED  ON  A FULL-TIME BASIS TO A TENANT OR
 TENANTS FOR WHOM THE PROPERTY OR DWELLING UNIT IS  THEIR  PRIMARY  RESI-
 DENCE.
   (B) PROOF THAT A RESIDENTIAL PROPERTY OR DWELLING UNIT IS ELIGIBLE FOR
 AN  EXEMPTION  PROVIDED IN PARAGRAPH (A) OF THIS SUBDIVISION SHALL BE IN
 SUCH FORM AS REQUIRED BY LOCAL LAW OR THE RULES OF THE  COMMISSIONER  OF
 FINANCE.
   (C)  ANY  SUCH  LOCAL  LAW MAY PROVIDE FOR EXEMPTIONS FROM SUCH TAX IN
 ADDITION TO THOSE SPECIFIED IN THIS SUBDIVISION.
   (D) IN THE EVENT THAT A PROPERTY GRANTED AN  EXEMPTION  FROM  TAXATION
 PURSUANT  TO  THIS  SECTION  OR  LOCAL LAW CEASES TO BE USED IN A MANNER

 A. 4540--A                          3
 
 MAKING THE PROPERTY ELIGIBLE FOR SUCH EXEMPTION,  THE  OWNER  OR  OWNERS
 SHALL  SO  NOTIFY THE COMMISSIONER OF FINANCE IN A TIME, FORM AND MANNER
 AS SO REQUIRED BY LOCAL LAW OR THE RULES OF THE COMMISSIONER.
   5.  RULES.  THE DEPARTMENT OF FINANCE OF ANY CITY ENACTING A LOCAL LAW
 PURSUANT TO THIS SECTION SHALL HAVE, IN ADDITION TO ANY OTHER FUNCTIONS,
 POWERS AND DUTIES WHICH HAVE BEEN OR MAY BE CONFERRED ON IT BY LAW,  THE
 POWER  TO  MAKE  AND  PROMULGATE RULES TO CARRY OUT THE PURPOSES OF THIS
 SECTION.
   § 2. This act shall take effect immediately.

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4540--B
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 4, 2019
                                ___________
 
 Introduced by M. of A. GLICK, O'DONNELL, GOTTFRIED, L. ROSENTHAL, REYES,
   RIVERA, DINOWITZ, SIMOTAS, JEAN-PIERRE, EPSTEIN, WEPRIN, NIOU, LENTOL,
   RICHARDSON,  CRUZ,  TAYLOR,  MOSLEY,  STECK,  QUART,  SEAWRIGHT, FAHY,
   ORTIZ, BENEDETTO, JACOBSON, FERNANDEZ,  PICHARDO,  BURKE,  DE LA ROSA,
   SIMON,  BUTTENSCHON,  DenDEKKER,  LIFTON,  BUCHWALD,  SAYEGH,  HUNTER,
   JOYNER, CARROLL, WOERNER, McDONALD, GUNTHER,  RAMOS,  GRIFFIN,  JONES,
   STERN, LUPARDO -- Multi-Sponsored by -- M. of A. ARROYO, NOLAN -- read
   once and referred to the Committee on Real Property Taxation -- recom-
   mitted  to  the Committee on Real Property Taxation in accordance with
   Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered
   reprinted as amended  and  recommitted  to  said  committee  --  again
   reported  from  said  committee  with amendments, ordered reprinted as
   amended and recommitted to said committee
 
 AN ACT to amend the real property tax law, in relation  to  imposing  an
   additional  tax  on  certain non-primary residence class one and class
   two properties in a city with a population of one million or more
 
   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 307-b to read as follows:
   § 307-B. ADDITIONAL TAX ON CERTAIN NON-PRIMARY RESIDENCE PROPERTIES IN
 A CITY WITH A POPULATION OF ONE MILLION OR MORE. 1. GENERALLY.  NOTWITH-
 STANDING  ANY  PROVISION  OF  ANY  GENERAL, SPECIFIC OR LOCAL LAW TO THE
 CONTRARY, ANY CITY WITH A POPULATION OF ONE MILLION OR  MORE  IS  HEREBY
 AUTHORIZED  AND  EMPOWERED  TO  ADOPT AND AMEND LOCAL LAWS IN ACCORDANCE
 WITH THIS SECTION IMPOSING AN  ADDITIONAL  TAX  ON  CERTAIN  RESIDENTIAL
 PROPERTIES AND DWELLING UNITS.
   2.  DEFINITIONS.  AS USED IN THIS SECTION:  (A) "ASSESSED VALUE" MEANS
 THE DETERMINATION MADE BY THE ASSESSORS OF A CITY HAVING A POPULATION OF
 ONE MILLION OR MORE OF THE VALUATION OF REAL PROPERTY.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04076-09-0
              

 A. 4540--B                          2
 
   (B) "ASSESSED VALUE ATTRIBUTABLE TO A  TENANT-STOCKHOLDER"  MEANS  THE
 PROPORTION OF THE ASSESSED VALUE OF REAL PROPERTY OWNED BY A COOPERATIVE
 APARTMENT  CORPORATION,  REPRESENTED  BY A TENANT-STOCKHOLDER'S SHARE OR
 SHARES OF STOCK IN SUCH  CORPORATION  AS  DETERMINED  BY  ITS  OR  THEIR
 PROPORTIONAL  RELATIONSHIP  TO THE TOTAL OUTSTANDING STOCK OF THE CORPO-
 RATION, INCLUDING THAT OWNED BY THE CORPORATION.
   (C) "COMMISSIONER OF FINANCE" MEANS THE COMMISSIONER OF FINANCE  OF  A
 CITY HAVING A POPULATION OF ONE MILLION OR MORE, OR HIS OR HER DESIGNEE.
   (D)  "DEPARTMENT OF FINANCE" MEANS THE DEPARTMENT OF FINANCE OF A CITY
 HAVING A POPULATION OF ONE MILLION OR MORE.
   (E) "FIVE-YEAR AVERAGE MARKET VALUE" SHALL MEAN THE  AVERAGE  MONETARY
 VALUE  OF  A  PROPERTY  FOR  THE PREVIOUS FIVE YEARS, USING A COMPARABLE
 SALE-BASED VALUATION METHOD, AS DETERMINED BY THE DEPARTMENT OF FINANCE.
   3. ADDITIONAL TAX. (A) A LOCAL LAW ENACTED PURSUANT  TO  THIS  SECTION
 MAY  PROVIDE FOR A TAX AS FOLLOWS FOR FISCAL YEARS BEGINNING ON OR AFTER
 JULY FIRST, TWO THOUSAND TWENTY-ONE:
   (I) FOR ONE, TWO OR THREE FAMILY RESIDENCES WITH A  FIVE-YEAR  AVERAGE
 MARKET  VALUE  OF FIVE MILLION DOLLARS OR HIGHER, A TAX OF AT LEAST ONE-
 HALF PERCENT AND NO MORE THAN FOUR PERCENT ON THE  EXCESS  MARKET  VALUE
 ABOVE FIVE MILLION DOLLARS.
   (II)  FOR  RESIDENTIAL  REAL  PROPERTY HELD IN THE CONDOMINIUM FORM OF
 OWNERSHIP WITH AN ASSESSED VALUE OF THREE HUNDRED  THOUSAND  DOLLARS  OR
 HIGHER,  A  TAX  OF  AT  LEAST TEN PERCENT AND NO MORE THAN THIRTEEN AND
 ONE-HALF PERCENT OF THE EXCESS ASSESSED VALUE ABOVE THREE HUNDRED  THOU-
 SAND DOLLARS.
   (III) FOR DWELLING UNITS IN A PROPERTY HELD IN THE COOPERATIVE FORM OF
 OWNERSHIP WITH AN ASSESSED VALUE ATTRIBUTABLE TO A TENANT-STOCKHOLDER OF
 THREE  HUNDRED THOUSAND DOLLARS OR HIGHER, A TAX OF AT LEAST TEN PERCENT
 AND NO MORE THAN THIRTEEN AND ONE-HALF PERCENT OF  THE  EXCESS  ASSESSED
 VALUE ABOVE THREE HUNDRED THOUSAND DOLLARS. THE ADDITIONAL TAXES ATTRIB-
 UTABLE  TO  EACH  TENANT-STOCKHOLDER  SHALL  BE ADDED BY THE COOPERATIVE
 APARTMENT CORPORATION TO THE AMOUNT OF SUCH TAXES OTHERWISE  PAYABLE  BY
 OR CHARGEABLE TO SUCH TENANT-STOCKHOLDER.
   (B)  SUBJECT  TO  THE LIMITATIONS ESTABLISHED IN PARAGRAPH (A) OF THIS
 SUBDIVISION, ANY SUCH LOCAL LAW MAY ESTABLISH A GRADUATED RATE  SCHEDULE
 FOR IMPOSING SUCH TAX, AT RATES AND EXCESS VALUE THRESHOLDS AS THE LOCAL
 LEGISLATIVE BODY DETERMINES APPROPRIATE.
   (C)  EXCEPT  AS  OTHERWISE  PROVIDED  IN THIS SECTION, SUCH TAX MAY BE
 IMPOSED, ADMINISTERED, COLLECTED AND ENFORCED  BY  THE  COMMISSIONER  OF
 FINANCE  OF  SUCH  CITY  BY SUCH MEANS AND IN SUCH MANNER AS OTHER TAXES
 THAT ARE NOW IMPOSED,  ADMINISTERED,  COLLECTED  AND  ENFORCED  BY  SUCH
 COMMISSIONER  IN  ACCORDANCE  WITH THE CHARTER OR ADMINISTRATIVE CODE OF
 ANY SUCH CITY OR AS OTHERWISE MAY BE PROVIDED BY ANY SUCH LOCAL LAW.
   4. EXEMPTIONS. (A) A LOCAL LAW ENACTED PURSUANT TO THIS SECTION  SHALL
 INCLUDE  AN  EXEMPTION  FROM  THE ADDITIONAL TAX IMPOSED FOR RESIDENTIAL
 PROPERTIES OR DWELLING UNITS THAT ARE: (I) THE PRIMARY RESIDENCE  OF  AT
 LEAST ONE OWNER OF THE PROPERTY OR DWELLING UNIT; (II) THE PRIMARY RESI-
 DENCE  OF  A  PARENT  OR  CHILD OF AT LEAST ONE OWNER OF THE PROPERTY OR
 DWELLING UNIT; (III) HELD IN THE  CONDOMINIUM  OR  COOPERATIVE  FORM  OF
 OWNERSHIP  WITH  AN  ASSESSED  VALUE OR ASSESSED VALUE ATTRIBUTABLE TO A
 TENANT-STOCKHOLDER OF THREE HUNDRED THOUSAND DOLLARS  OR  HIGHER,  WHERE
 THE  OWNER HAS WITHIN THE PRIOR THREE YEARS OBTAINED AN APPRAISAL REPORT
 CERTIFIED BY A STATE CERTIFIED REAL ESTATE APPRAISER OR AUTHENTICATED BY
 A STATE LICENSED REAL ESTATE APPRAISER, AS THOSE TERMS  ARE  DEFINED  IN
 SECTION ONE HUNDRED SIXTY-A OF THE EXECUTIVE LAW, SHOWING THAT THE RESI-
 DENTIAL  PROPERTY  OR  DWELLING UNIT HAS AN APPRAISED VALUE OF LESS THAN

 A. 4540--B                          3
 
 FIVE MILLION DOLLARS; OR (IV) RENTED ON A FULL-TIME BASIS TO A TENANT OR
 TENANTS FOR WHOM THE PROPERTY OR DWELLING UNIT IS  THEIR  PRIMARY  RESI-
 DENCE.
   (B) PROOF THAT A RESIDENTIAL PROPERTY OR DWELLING UNIT IS ELIGIBLE FOR
 AN  EXEMPTION  PROVIDED IN PARAGRAPH (A) OF THIS SUBDIVISION SHALL BE IN
 SUCH FORM AS REQUIRED BY LOCAL LAW OR THE RULES OF THE  COMMISSIONER  OF
 FINANCE.
   (C)  ANY  SUCH  LOCAL  LAW MAY PROVIDE FOR EXEMPTIONS FROM SUCH TAX IN
 ADDITION TO THOSE SPECIFIED IN THIS SUBDIVISION.
   (D) IN THE EVENT THAT A PROPERTY GRANTED AN  EXEMPTION  FROM  TAXATION
 PURSUANT  TO  THIS  SECTION  OR  LOCAL LAW CEASES TO BE USED IN A MANNER
 MAKING THE PROPERTY ELIGIBLE FOR SUCH EXEMPTION,  THE  OWNER  OR  OWNERS
 SHALL  SO  NOTIFY THE COMMISSIONER OF FINANCE IN A TIME, FORM AND MANNER
 AS SO REQUIRED BY LOCAL LAW OR THE RULES OF THE COMMISSIONER.
   5. RULES. THE DEPARTMENT OF FINANCE OF ANY CITY ENACTING A  LOCAL  LAW
 PURSUANT TO THIS SECTION SHALL HAVE, IN ADDITION TO ANY OTHER FUNCTIONS,
 POWERS  AND DUTIES WHICH HAVE BEEN OR MAY BE CONFERRED ON IT BY LAW, THE
 POWER TO MAKE AND PROMULGATE RULES TO CARRY OUT  THE  PURPOSES  OF  THIS
 SECTION.
   § 2. This act shall take effect immediately.