Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 10, 2022 |
reported referred to ways and means |
Jan 31, 2022 |
referred to real property taxation |
Assembly Bill A9129
2021-2022 Legislative Session
Sponsored By
BRAUNSTEIN
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
Actions
co-Sponsors
Nader sayegh
2021-A9129 (ACTIVE) - Details
- See Senate Version of this Bill:
- S7343
- Current Committee:
- Assembly Ways And Means
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd §489-cccccc, RPT L
2021-A9129 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9129 I N A S S E M B L Y January 31, 2022 ___________ Introduced by M. of A. BRAUNSTEIN -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to providing an extension of time to complete construction for certain building projects due to the COVID-19 pandemic THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 2 of section 489-cccccc of the real property tax law, as added by chapter 119 of the laws of 2008, is amended to read as follows: 2. Time limit for completion of construction. (A) Construction of buildings or structures for which benefits have been approved shall be completed no later than five years from the date of issuance of the first building permit, or if no permit was required, the commencement of construction. Failure to meet this requirement shall result in termi- nation of any inflation protection provided under subdivision three of section four hundred eighty-nine-bbbbbb of this title for any tax year that begins following the date by which completion of construction is required under this paragraph. (B) (I) NOTWITHSTANDING THE PROVISIONS OF PARAGRAPH (A) OF THIS SUBDI- VISION, AN ADDITIONAL TWENTY-SEVEN MONTH EXTENSION SHALL BE PROVIDED FOR ALL PROJECTS WHERE SUCH FIVE YEAR PERIOD WOULD HAVE TERMINATED BETWEEN MARCH SEVENTH, TWO THOUSAND TWENTY AND JUNE TWENTY-FIFTH, TWO THOUSAND TWENTY-ONE, TO PROVIDE RELIEF FOR (A) THE FIFTEEN-MONTH PERIOD DURING WHICH A STATE DISASTER EMERGENCY WAS DECLARED BY THE GOVERNOR PURSUANT TO EXECUTIVE ORDER TWO HUNDRED TWO OF TWO THOUSAND TWENTY IN RESPONSE TO THE COVID-19 PANDEMIC AND THE ISSUANCE BY THE GOVERNOR OF EXECUTIVE ORDER TWO HUNDRED TEN OF TWO THOUSAND TWENTY-ONE WHICH RESCINDED ALL PREVIOUS PANDEMIC RELATED EXECUTIVE ORDERS AND LIFTED SUCH STATE OF EMERGENCY, PLUS (B) AN ADDITIONAL TWELVE MONTHS FOR PROJECTS TO COMPLETE CONSTRUCTION AFTER THE EXPIRATION OF SUCH EXECUTIVE ORDERS. (II) FOR SUCH PROJECTS, THE AMOUNT OF ABATEMENT SHALL BE CALCULATED AS PROVIDED HEREIN. THE FIRST YEAR OF THE ABATEMENT SHALL BE THE TAX YEAR WITH THE FIRST TAXABLE STATUS DATE THAT FOLLOWS THE SOONER OF (A) THE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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