S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9185
 
                           I N  A S S E M B L Y
 
                             February 9, 2022
                                ___________
 
 Introduced  by  M.  of  A.  EPSTEIN,  CYMBROWITZ, DICKENS, D. ROSENTHAL,
   J. RIVERA, CUSICK, EICHENSTEIN, REYES, CRUZ, HEVESI,  GLICK,  FRONTUS,
   BENEDETTO,  TAYLOR,  JOYNER,  SIMON  --  read once and referred to the
   Committee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation  to  partial  tax
   abatement  for  residential  real  property held in the cooperative or
   condominium form of ownership in a city having  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. Subdivision 2 of section 467-a of the real property tax law
 is amended by adding a new paragraph (b-2) to read as follows:
   (B-2) NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE  CONTRARY  FOR
 FISCAL  YEARS  COMMENCING  IN CALENDAR YEARS TWO THOUSAND TWENTY-TWO AND
 AFTER, THE PROVISIONS OF THIS SECTION SHALL NOT APPLY  TO  ANY  DWELLING
 UNIT  FOR  WHICH  THE  BILLABLE  ASSESSED  VALUE IS TWO HUNDRED THOUSAND
 DOLLARS OR GREATER.
   § 2. Paragraphs (a) and (b) of subdivision 2 of section 467-a  of  the
 real  property  tax  law, as amended by chapter 184 of the laws of 2021,
 are amended to read as follows:
   (a) In a city having a population of one  million  or  more,  dwelling
 units  owned  by  unit  owners  who, as of the applicable taxable status
 date, own no more than three dwelling units in any one property held  in
 the  condominium  form  of  ownership,  shall  be  eligible to receive a
 partial abatement of real property taxes, as  set  forth  in  paragraphs
 (c),  (d),  (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi-
 sion; provided, however, that a property held in the condominium form of
 ownership that is  receiving  complete  or  partial  real  property  tax
 exemption or tax abatement pursuant to any other provision of this chap-
 ter or any other state or local law, except as provided in paragraph (f)
 of  this  subdivision, shall not be eligible to receive a partial abate-
 ment pursuant to this section;  and  provided,  further,  that  sponsors
 shall  not  be  eligible to receive a partial abatement pursuant to this
 section; and provided, further, that in the fiscal years  commencing  in
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD03154-03-2
 A. 9185                             2
 
 calendar  years  two  thousand  twelve through two thousand [twenty-two]
 TWENTY-THREE no more than a maximum of three dwelling units owned by any
 unit owner in a single building, one of which must be the primary  resi-
 dence  of such unit owner, shall be eligible to receive a partial abate-
 ment pursuant to paragraphs (d-1), (d-2), (d-3) and (d-4) of this subdi-
 vision.
   (b) In a city having a population of one  million  or  more,  dwelling
 units  owned  by  tenant-stockholders  who, as of the applicable taxable
 status date, own no more than three dwelling units in any  one  property
 held  in the cooperative form of ownership, shall be eligible to receive
 a partial abatement of real property taxes, as set forth  in  paragraphs
 (c),  (d),  (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi-
 sion; provided, however, that a property held in the cooperative form of
 ownership that is  receiving  complete  or  partial  real  property  tax
 exemption or tax abatement pursuant to any other provision of this chap-
 ter or any other state or local law, except as provided in paragraph (f)
 of  this  subdivision, shall not be eligible to receive a partial abate-
 ment pursuant to this section;  and  provided,  further,  that  sponsors
 shall  not  be  eligible to receive a partial abatement pursuant to this
 section; and provided, further, that in the fiscal years  commencing  in
 calendar  years  two  thousand  twelve through two thousand [twenty-two]
 TWENTY-THREE no more than a maximum of three dwelling units owned by any
 tenant-stockholder in a single building, one of which must be the prima-
 ry residence of such tenant-stockholder, shall be eligible to receive  a
 partial  abatement  pursuant to paragraphs (d-1), (d-2), (d-3) and (d-4)
 of this subdivision. For purposes of this section, a  tenant-stockholder
 of a cooperative apartment corporation shall be deemed to own the dwell-
 ing  unit  which  is  represented  by his or her shares of stock in such
 corporation. Any abatement so granted shall be credited by the appropri-
 ate taxing authority against the tax due on the property as a whole. The
 reduction in real property taxes received thereby shall be  credited  by
 the  cooperative  apartment corporation against the amount of such taxes
 attributable to eligible dwelling units at the time of receipt.
   § 3. Paragraphs (d-1), (d-2), (d-3) and  (d-4)  of  subdivision  2  of
 section 467-a of the real property tax law, as amended by chapter 184 of
 the laws of 2021, are amended to read as follows:
   (d-1)  In  the  fiscal years commencing in calendar years two thousand
 twelve, two thousand thirteen and two thousand fourteen, eligible dwell-
 ing units in property whose average unit assessed value is less than  or
 equal to fifty thousand dollars shall receive a partial abatement of the
 real  property  taxes  attributable  to or due on such dwelling units of
 twenty-five percent, twenty-six and one-half  percent  and  twenty-eight
 and  one-tenth  percent  respectively. In the fiscal years commencing in
 calendar years two thousand fifteen through  two  thousand  [twenty-two]
 TWENTY-THREE  eligible  dwelling  units  in  property whose average unit
 assessed value is less than or equal to  fifty  thousand  dollars  shall
 receive  a  partial abatement of the real property taxes attributable to
 or due on such dwelling units of twenty-eight and one-tenth percent.
   (d-2) In the fiscal years commencing in calendar  years  two  thousand
 twelve, two thousand thirteen and two thousand fourteen, eligible dwell-
 ing  units  in  property  whose average unit assessed value is more than
 fifty thousand dollars, but less than or equal  to  fifty-five  thousand
 dollars,  shall  receive  a partial abatement of the real property taxes
 attributable to or due on such dwelling units of twenty-two and one-half
 percent, twenty-three and eight-tenths percent and twenty-five and  two-
 tenths  percent respectively. In the fiscal years commencing in calendar
 A. 9185                             3
 
 years two thousand fifteen through  two  thousand  [twenty-two]  TWENTY-
 THREE  eligible  dwelling  units in property whose average unit assessed
 value is more than fifty thousand dollars, but less  than  or  equal  to
 fifty-five  thousand  dollars,  shall receive a partial abatement of the
 real property taxes attributable to or due on  such  dwelling  units  of
 twenty-five and two-tenths percent.
   (d-3)  In  the  fiscal years commencing in calendar years two thousand
 twelve, two thousand thirteen and two thousand fourteen, eligible dwell-
 ing units in property whose average unit assessed  value  is  more  than
 fifty-five  thousand  dollars,  but less than or equal to sixty thousand
 dollars, shall receive a partial abatement of the  real  property  taxes
 attributable  to  or due on such dwelling units of twenty percent, twen-
 ty-one and two-tenths percent, and twenty-two  and  five-tenths  percent
 respectively. In the fiscal years commencing in calendar years two thou-
 sand  fifteen  through  two  thousand [twenty-two] TWENTY-THREE eligible
 dwelling units in property whose average unit  assessed  value  is  more
 than  fifty-five thousand dollars, but less than or equal to sixty thou-
 sand dollars, shall receive a partial abatement  of  the  real  property
 taxes  attributable  to  or due on such dwelling units of twenty-two and
 five-tenths percent.
   (d-4) In the fiscal years commencing in calendar  years  two  thousand
 twelve through two thousand [twenty-two] TWENTY-THREE, eligible dwelling
 units  in  property whose average unit assessed value is more than sixty
 thousand dollars shall receive a partial abatement of the real  property
 taxes  attributable  to  or  due on such dwelling units of seventeen and
 one-half percent.
   § 4. Paragraph (a) of subdivision 3 of section 467-a of the real prop-
 erty tax law, as amended by chapter 184 of the laws of 2021, is  amended
 to read as follows:
   (a)  An  application for an abatement pursuant to this section for the
 fiscal year commencing in  calendar  year  nineteen  hundred  ninety-six
 shall  be  made  no  later than the fifteenth day of September, nineteen
 hundred ninety-six. An application for an  abatement  pursuant  to  this
 section for the fiscal year commencing in calendar year nineteen hundred
 ninety-seven  shall  be made no later than the first day of April, nine-
 teen hundred ninety-seven. An application for an abatement  pursuant  to
 this  section  for  the fiscal year commencing in calendar year nineteen
 hundred ninety-eight shall be made no later than the first day of April,
 nineteen hundred ninety-eight. An application for an abatement  pursuant
 to this section for the fiscal year commencing in calendar year nineteen
 hundred  ninety-nine  shall  be made in accordance with this subdivision
 and subdivision three-a of this section. An application for an abatement
 pursuant to this section for the fiscal year commencing in calendar year
 two thousand shall be made no later than the fifteenth day of  February,
 two  thousand.  An application for an abatement pursuant to this section
 for the fiscal year commencing in calendar year two thousand  one  shall
 be  made  in accordance with this subdivision and subdivision three-b of
 this section. An application for an abatement pursuant to  this  section
 for  the  fiscal year commencing in calendar year two thousand two shall
 be made no later than the fifteenth day of February, two  thousand  two.
 An  application for an abatement pursuant to this section for the fiscal
 year commencing in calendar year two thousand three  shall  be  made  no
 later  than the fifteenth day of February, two thousand three. An appli-
 cation for an abatement pursuant to this section  for  the  fiscal  year
 commencing  in  calendar year two thousand four shall be made in accord-
 ance with this subdivision and subdivision three-c of this  section.  An
 A. 9185                             4

 application  for  an  abatement  pursuant to this section for the fiscal
 year commencing in calendar year two thousand  five  shall  be  made  no
 later than the fifteenth day of February, two thousand five. An applica-
 tion  for  an  abatement  pursuant  to  this section for the fiscal year
 commencing in calendar year two thousand six shall be made no later than
 the fifteenth day of February, two thousand six. An application  for  an
 abatement  pursuant  to  this  section for the fiscal year commencing in
 calendar year two thousand  seven  shall  be  made  no  later  than  the
 fifteenth day of February, two thousand seven. An application for abate-
 ment pursuant to this section for the fiscal year commencing in calendar
 year  two  thousand eight shall be made in accordance with this subdivi-
 sion and subdivision three-d of this  section.  An  application  for  an
 abatement  pursuant  to  this  section for the fiscal year commencing in
 calendar year two  thousand  nine  shall  be  made  no  later  than  the
 fifteenth  day  of  February,  two  thousand nine. An application for an
 abatement pursuant to this section for the  fiscal  year  commencing  in
 calendar year two thousand ten shall be made no later than the fifteenth
 day  of  February,  two  thousand  ten.  An application for an abatement
 pursuant to this section for the fiscal year commencing in calendar year
 two thousand eleven shall be made no later than  the  fifteenth  day  of
 February,  two thousand eleven. An application for an abatement pursuant
 to this section for the fiscal years commencing in  calendar  years  two
 thousand  twelve  and  two thousand thirteen shall be made in accordance
 with subdivision three-e of this section. The date  or  dates  by  which
 applications for an abatement pursuant to this section shall be made for
 the  fiscal  years  beginning  in  calendar  years two thousand fourteen
 through two thousand [twenty-two] TWENTY-THREE shall be  established  by
 the  commissioner  of  finance by rule, provided that such date or dates
 shall not be later than the fifteenth day of February for such  calendar
 years.
   § 5. For fiscal years commencing in calendar years 2022 and after, the
 New  York city department of finance shall reallocate the monies used to
 provide the partial tax abatement for residential real property held  in
 the  cooperative  or  condominium  form  of ownership for dwelling units
 whose billable assessed value is two hundred thousand dollars or  great-
 er,  which are now ineligible for such tax abatement pursuant to section
 one of this act, to be deposited in a special account in the name of the
 New York city housing authority.  Payment from such account shall be  on
 the authorization of the commissioner of the department of housing pres-
 ervation and development.
   § 6. This act shall take effect immediately.