Assembly Bill A10488

2021-2022 Legislative Session

Relates to the taxation of property owned by a cooperative corporation

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S9413 - Passed Assembly

  • 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

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2021-A10488 (ACTIVE) - Details

See Senate Version of this Bill:
S9413
Law Section:
Real Property Tax Law
Laws Affected:
Amd §581, RPT L; amd §339-y, RP L

2021-A10488 (ACTIVE) - Summary

Relates to the taxation of property owned by a cooperative corporation in the Town of Greenburgh, Westchester County.

2021-A10488 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10488
 
                           I N  A S S E M B L Y
 
                               May 27, 2022
                                ___________
 
 Introduced by COMMITTEE ON RULES -- (at request of M. of A. Abinanti) --
   read once and referred to the Committee on Ways and Means
 
 AN  ACT to amend the real property tax law and the real property law, in
   relation to the taxation of property owned  by  a  cooperative  corpo-
   ration
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 1 of section 581 of the real property  tax  law
 is amended by adding a new paragraph (d) to read as follows:
   (D)  THE  PROVISIONS  OF  PARAGRAPH  (A) OF THIS SUBDIVISION SHALL NOT
 APPLY TO REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE  CORPORATION  OR
 ON A CONDOMINIUM BASIS IN THE TOWN OF GREENBURGH, IN WESTCHESTER COUNTY,
 WHICH  HAS  ADOPTED,  PRIOR TO THE TAXABLE STATUS DATE OF THE ASSESSMENT
 ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW PROVIDING THAT THE
 PROVISIONS OF PARAGRAPH (A) OF THIS SUBDIVISION SHALL NOT APPLY TO  SUCH
 REAL  PROPERTY  WITHIN  SUCH  TOWN; PROVIDED, HOWEVER, THE PROVISIONS OF
 THIS PARAGRAPH SHALL NOT APPLY TO REAL PROPERTY OWNED  OR  LEASED  BY  A
 COOPERATIVE  CORPORATION  OR ON A CONDOMINIUM BASIS THAT HAD BEEN PREVI-
 OUSLY SUBJECT TO THE PROVISIONS OF PARAGRAPH  (A)  OF  THIS  SUBDIVISION
 PRIOR  TO  JANUARY  FIRST,  TWO THOUSAND TWENTY-THREE; PROVIDED FURTHER,
 HOWEVER, THE PROVISIONS OF THIS PARAGRAPH SHALL NOT APPLY TO REAL  PROP-
 ERTY  OWNED  OR  LEASED BY A COOPERATIVE CORPORATION OR ON A CONDOMINIUM
 BASIS THAT IS PARTICIPATING IN AN AFFORDABLE HOUSING TAX CREDIT  PROGRAM
 OR  HAS  A  REGULATORY  AGREEMENT WITH A FEDERAL, STATE, OR LOCAL AGENCY
 RELATED TO AFFORDABLE HOUSING REQUIREMENTS.
   § 2. Subdivision 1 of section  339-y  of  the  real  property  law  is
 amended by adding a new paragraph (g) to read as follows:
   (G)  THE  PROVISIONS  OF  PARAGRAPH  (B) OF THIS SUBDIVISION SHALL NOT
 APPLY TO REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE  CORPORATION  OR
 ON A CONDOMINIUM BASIS IN THE TOWN OF GREENBURGH, IN WESTCHESTER COUNTY,
 WHICH  HAS  ADOPTED,  PRIOR TO THE TAXABLE STATUS DATE OF THE ASSESSMENT
 ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW PROVIDING THAT THE
 PROVISIONS OF PARAGRAPH (B) OF THIS SUBDIVISION SHALL NOT APPLY TO  SUCH
 REAL  PROPERTY  WITHIN  SUCH  TOWN; PROVIDED, HOWEVER, THE PROVISIONS OF
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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