Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 11, 2020 |
print number 3469b |
Mar 11, 2020 |
amend and recommit to local government |
Mar 02, 2020 |
print number 3469a |
Mar 02, 2020 |
amend and recommit to local government |
Jan 08, 2020 |
referred to local government |
Feb 07, 2019 |
referred to local government |
Senate Bill S3469B
2019-2020 Legislative Session
Sponsored By
(D) 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
Bill Amendments
co-Sponsors
(D) 15th Senate District
(D) Senate District
(D) 14th Senate District
(D, WF) 31st Senate District
2019-S3469 - Details
- See Assembly Version of this Bill:
- A5081
- Current Committee:
- Senate Local Government
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd §§420-a & 422, RPT L
- Versions Introduced in Other Legislative Sessions:
-
2017-2018:
S8526, A9581
2021-2022: S6326
2019-S3469 - Sponsor Memo
BILL NUMBER: S3469 SPONSOR: MONTGOMERY TITLE OF BILL: An act to amend the real property tax law, in relation to tax exemptions for community land trusts and income-restricted homeownership properties PURPOSE: This bill amends the real property tax law to require that certain real property owned by a Community Land Trust, which operates in accordance with Section 213 of the Housing and Community Development Act of 1992 and is organized as a housing development fund company pursuant to Arti- cle XI of the Private Housing Finance Law and Section 402 of the Notfor-Profit Corporation Law, which must be operated in furtherance of persons and families of low income as defined by Section 2(19) of the Private Housing Finance Law, receive both a full and partial tax exemption on the land and the improvements thereon. This bill also amends real property tax law to require a partial real property tax exemption for certain income-restricted homeownership prop- erty that is subject to the terms of a regulatory agreement with a
2019-S3469 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3469 2019-2020 Regular Sessions I N S E N A T E February 7, 2019 ___________ Introduced by Sens. MONTGOMERY, LITTLE -- read twice and ordered print- ed, and when printed to be committed to the Committee on Local Govern- ment AN ACT to amend the real property tax law, in relation to tax exemptions for community land trusts and income-restricted homeownership proper- ties THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 420-a of the real property tax law is amended by adding a new subdivision 17 to read as follows: 17. REAL PROPERTY OWNED BY A HOUSING DEVELOPMENT FUND COMPANY FORMED PURSUANT TO ARTICLE ELEVEN OF THE PRIVATE HOUSING FINANCE LAW AND SECTION FOUR HUNDRED TWO OF THE NOT-FOR-PROFIT CORPORATION LAW WHICH OPERATES AS A COMMUNITY LAND TRUST AS DEFINED IN SECTION TWO HUNDRED THIRTEEN OF THE HOUSING AND COMMUNITY DEVELOPMENT ACT OF NINETEEN HUNDRED NINETY-TWO, EXCLUSIVELY FOR THE BENEFIT OF PERSONS OR FAMILIES OF LOW INCOME AS DEFINED IN SUBDIVISION TEN OF SECTION TWELVE OF THE PRIVATE HOUSING FINANCE LAW, AND SEPARATELY ASSESSED IMPROVEMENTS OWNED BY THE RESIDENTS THEREOF, SHALL BE EXEMPT FROM TAXATION AND EXEMPT FROM SPECIAL AD VALOREM LEVIES AND SPECIAL ASSESSMENTS TO THE EXTENT PROVIDED IN SECTION FOUR HUNDRED NINETY OF THIS ARTICLE. THE SUPERVISING AGENCY OF THE COMMUNITY LAND TRUST SHALL REQUIRE AN ANNUAL CERTIFICATION FROM THE COMMUNITY LAND TRUST THAT THE REAL PROPERTY LAND IS USED EXCLUSIVELY FOR THE BENEFIT OF PERSONS OR FAMILIES OF LOW INCOME. THE SUPERVISING AGENCY MAY REQUIRE THE COMMUNITY LAND TRUST TO ENTER INTO A REGULATORY AGREEMENT, WHICH SHALL BE CO-TERMINUS WITH ANY GROUND LEASE GRANTED BY THE COMMUNITY LAND TRUST TO ANY QUALIFYING OWNER OF IMPROVEMENTS THERE- ON. NOTWITHSTANDING THE FOREGOING, ANY COMMUNITY LAND TRUST FORMED PURSUANT TO SECTION FOUR HUNDRED TWO OF THE NOT-FOR-PROFIT CORPORATION LAW AND WHICH IS LOCATED IN A CITY OR MUNICIPALITY WITH A POPULATION OF EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06368-02-9
co-Sponsors
(D) 15th Senate District
(D) Senate District
(D) 14th Senate District
(D, WF) 31st Senate District
2019-S3469A - Details
- See Assembly Version of this Bill:
- A5081
- Current Committee:
- Senate Local Government
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd §§420-a & 422, RPT L
- Versions Introduced in Other Legislative Sessions:
-
2017-2018:
S8526, A9581
2021-2022: S6326
2019-S3469A - Sponsor Memo
BILL NUMBER: S3469A SPONSOR: MONTGOMERY TITLE OF BILL: An act to amend the real property tax law, in relation to tax exemptions for community land trusts and income-restricted homeownership properties PURPOSE: This bill adds a new subsection 420-A (17) to the Real Property Tax Law to permit land that is owned by a Community Land Trust to qualify for real property tax exemption as well as a new subsection 422(3) to the Real Property Tax Law to require a partial real property tax exemption for certain income-restricted homeownership property, including improve- ments that are erected on a Community Land Trust, for purposes of deter- mining property taxes. The purpose of both new sections of law are to ensure that income-restricted homeownership property, including improve- ments that are erected on land which is owned by a Community Land Trust, are not property tax burdened in a way that could impact the affordabil- ity of such permanently affordable homeownership housing. This bill shall provide property tax relief to a Community Land Trust and owners
2019-S3469A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3469--A 2019-2020 Regular Sessions I N S E N A T E February 7, 2019 ___________ Introduced by Sens. MONTGOMERY, ADDABBO, BENJAMIN, COMRIE, JACKSON, LITTLE, SALAZAR -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government -- recommitted to the Committee on Local Government in accordance with Senate Rule 6, sec. 8 -- 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 tax exemptions for community land trusts and income-restricted homeownership proper- ties THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 420-a of the real property tax law is amended by adding a new subdivision 17 to read as follows: 17. (A) FOR THE PURPOSES OF THIS SUBDIVISION, "COMMUNITY LAND TRUST" SHALL MEAN A NONPROFIT CORPORATION ORGANIZED PURSUANT TO SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE THAT SATISFIES THE FOLLOWING CRITERIA: (I) SUCH NONPROFIT CORPORATION'S PRIMARY PURPOSE IS THE CREATION AND MAINTENANCE OF PERMANENTLY AFFORDABLE SINGLE-FAMILY OR MULTI-FAMILY RESIDENCES; (II) ALL DWELLINGS AND UNITS LOCATED ON LAND OWNED BY SUCH NONPROFIT CORPORATION IS SOLD TO A QUALIFIED OWNER TO BE OCCUPIED AS THE QUALIFIED OWNER'S PRIMARY RESIDENCE OR RENTED TO PERSONS OR FAMILIES OF LOW INCOME AS DEFINED IN SUBDIVISION TEN OF SECTION TWELVE OF THE PRIVATE HOUSING FINANCE LAW; AND (III) THE LAND OWNED BY THE NONPROFIT CORPORATION, ON WHICH A DWELLING OR UNIT SOLD TO A QUALIFIED OWNER IS SITUATED, IS LEASED BY SUCH CORPO- RATION TO THE QUALIFIED OWNER FOR THE CONVENIENT OCCUPATION AND USE OF SUCH DWELLING OR UNIT FOR A RENEWABLE TERM OF NINETY-NINE YEARS. (B) ANY LAND OWNED BY A COMMUNITY LAND TRUST AS DEFINED IN PARAGRAPH (A) OF THIS SUBDIVISION AND SEPARATELY ASSESSED IMPROVEMENTS OWNED BY EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
co-Sponsors
(D) 15th Senate District
(D) Senate District
(D) 14th Senate District
(D, WF) 31st Senate District
2019-S3469B (ACTIVE) - Details
- See Assembly Version of this Bill:
- A5081
- Current Committee:
- Senate Local Government
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd §§420-a & 422, RPT L
- Versions Introduced in Other Legislative Sessions:
-
2017-2018:
S8526, A9581
2021-2022: S6326
2019-S3469B (ACTIVE) - Sponsor Memo
BILL NUMBER: S3469B SPONSOR: MONTGOMERY TITLE OF BILL: An act to amend the real property tax law, in relation to tax exemptions for community land trusts and income-restricted homeownership properties PURPOSE: This bill adds a new subsection 420-A (17) to the Real Property Tax Law to permit land that is owned by a Community Land Trust to qualify for real property tax exemption as well as a new subsection 422(3) to the Real Property Tax Law to require a partial real property tax exemption for certain income-restricted homeownership property, including improve- ments that are erected on a Community Land Trust, for purposes of deter- mining property taxes. The purpose of both new sections of law are to ensure that income-restricted homeownership property, including improve- ments that are erected on land which is owned by a Community Land Trust, are not property tax burdened in a way that could impact the affordabil- ity of such permanently affordable homeownership housing. This bill shall provide property tax relief to a Community Land Trust and owners
2019-S3469B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3469--B 2019-2020 Regular Sessions I N S E N A T E February 7, 2019 ___________ Introduced by Sens. MONTGOMERY, ADDABBO, BENJAMIN, COMRIE, JACKSON, LITTLE, SALAZAR -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government -- recommitted to the Committee on Local Government in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- 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 tax exemptions for community land trusts and income-restricted homeownership proper- ties THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 420-a of the real property tax law is amended by adding a new subdivision 17 to read as follows: 17. (A) FOR THE PURPOSES OF THIS SUBDIVISION, "COMMUNITY LAND TRUST" SHALL MEAN A NONPROFIT CORPORATION ORGANIZED PURSUANT TO SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE THAT SATISFIES THE FOLLOWING CRITERIA: (I) SUCH NONPROFIT CORPORATION'S PRIMARY PURPOSE IS THE CREATION AND MAINTENANCE OF PERMANENTLY AFFORDABLE SINGLE-FAMILY OR MULTI-FAMILY RESIDENCES; (II) ALL DWELLINGS AND UNITS LOCATED ON LAND OWNED BY SUCH NONPROFIT CORPORATION IS SOLD TO A QUALIFIED OWNER TO BE OCCUPIED AS THE QUALIFIED OWNER'S PRIMARY RESIDENCE OR RENTED TO PERSONS OR FAMILIES OF LOW INCOME AS DEFINED IN SUBDIVISION TEN OF SECTION TWELVE OF THE PRIVATE HOUSING FINANCE LAW; AND (III) THE LAND OWNED BY THE NONPROFIT CORPORATION, ON WHICH A DWELLING OR UNIT SOLD TO A QUALIFIED OWNER IS SITUATED, IS LEASED BY SUCH CORPO- RATION TO THE QUALIFIED OWNER FOR THE CONVENIENT OCCUPATION AND USE OF SUCH DWELLING OR UNIT FOR A RENEWABLE TERM OF NINETY-NINE YEARS. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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