Senate Bill S6310B

2021-2022 Legislative Session

Relates to delinquent tax interest rates

download bill text pdf

Sponsored By

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

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Bill Amendments

2021-S6310 - Details

See Assembly Version of this Bill:
A7776
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §924-a, RPT L
Versions Introduced in 2023-2024 Legislative Session:
S967, A1489

2021-S6310 - Summary

Relates to setting a maximum delinquent tax interest rate for payments due on owner occupied residential real property containing three or fewer dwelling units of seven and one half percent per annum.

2021-S6310 - Sponsor Memo

2021-S6310 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6310
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              April 21, 2021
                                ___________
 
 Introduced  by  Sen.  RYAN  --  read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to amend the real property tax law, in relation to delinquent tax
   interest rates
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  Subdivision  1  of section 924-a of the real property tax
 law, as amended by chapter 26 of the laws of 2003, is amended to read as
 follows:
   1. The amount of interest to be added on all taxes received after  the
 interest  free  period and all delinquent taxes shall be one-twelfth the
 rate of interest as determined pursuant to subdivision two or  two-a  of
 this section rounded to the nearest one-hundredth of a percentage point,
 except as otherwise provided by a general or special law, or a local law
 adopted by a city pursuant to the municipal home rule law or any special
 law.  Such  interest  shall  be added for each month or fraction thereof
 until such taxes are paid; PROVIDED HOWEVER,  THAT  NOTWITHSTANDING  ANY
 PROVISION OF GENERAL, SPECIAL, OR LOCAL LAW OR RESOLUTION TO THE CONTRA-
 RY,  IN  NO  CASE  SHALL THE INTEREST RATE EXCEED SEVEN AND ONE-HALF PER
 CENTUM PER ANNUM OF DELINQUENT TAX PAYMENTS DUE ON OWNER OCCUPIED  RESI-
 DENTIAL  REAL  PROPERTY  CONTAINING  THREE  OR FEWER DWELLING UNITS; AND
 PROVIDED FURTHER THAT THIS LIMITATION  SHALL  APPLY  TO  UNITS  HELD  IN
 CONDOMINIUM  FORM; AND PROVIDED FURTHER THAT SUCH LIMITATION SHALL APPLY
 TO ALL BUILDINGS HELD IN COOPERATIVE FORM REGARDLESS OF OWNER  OCCUPANCY
 STATUS;  AND  PROVIDED  FURTHER  THAT THIS LIMITATION SHALL NOT APPLY TO
 REAL PROPERTY THAT IS VACANT AND ABANDONED, AS  DEFINED  IN  SUBDIVISION
 TWO  OF  SECTION THIRTEEN HUNDRED NINE  OF THE REAL PROPERTY ACTIONS AND
 PROCEEDINGS LAW, WHICH WAS LISTED ON THE STATEWIDE VACANT AND  ABANDONED
 PROPERTY ELECTRONIC REGISTRY, AS DEFINED IN SECTION THIRTEEN HUNDRED TEN
 OF  THE  REAL  PROPERTY ACTIONS AND PROCEEDINGS LAW, AND REMAINS ON SUCH
 REGISTRY.
   § 2.  This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

co-Sponsors

2021-S6310A - Details

See Assembly Version of this Bill:
A7776
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §924-a, RPT L
Versions Introduced in 2023-2024 Legislative Session:
S967, A1489

2021-S6310A - Summary

Relates to setting a maximum delinquent tax interest rate for payments due on owner occupied residential real property containing three or fewer dwelling units of seven and one half percent per annum.

2021-S6310A - Sponsor Memo

2021-S6310A - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6310--A
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              April 21, 2021
                                ___________
 
 Introduced  by  Sen.  RYAN  --  read twice and ordered printed, and when
   printed to be committed  to  the  Committee  on  Local  Government  --
   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 delinquent tax
   interest rates

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision  1  of section 924-a of the real property tax
 law, as amended by chapter 26 of the laws of 2003, is amended to read as
 follows:
   1. The amount of interest to be added on all taxes received after  the
 interest  free  period and all delinquent taxes shall be one-twelfth the
 rate of interest as determined pursuant to subdivision two or  two-a  of
 this section rounded to the nearest one-hundredth of a percentage point,
 except as otherwise provided by a general or special law, or a local law
 adopted by a city pursuant to the municipal home rule law or any special
 law.  Such  interest  shall  be added for each month or fraction thereof
 until such taxes are paid; PROVIDED HOWEVER,  THAT  NOTWITHSTANDING  ANY
 PROVISION OF GENERAL, SPECIAL, OR LOCAL LAW OR RESOLUTION TO THE CONTRA-
 RY,  IN  NO  CASE  SHALL THE INTEREST RATE EXCEED SEVEN AND ONE-HALF PER
 CENTUM PER ANNUM OF DELINQUENT TAX PAYMENTS DUE ON OWNER OCCUPIED  RESI-
 DENTIAL  REAL  PROPERTY  CONTAINING  THREE  OR FEWER DWELLING UNITS; AND
 PROVIDED FURTHER THAT THIS LIMITATION  SHALL  APPLY  TO  UNITS  HELD  IN
 CONDOMINIUM  FORM; AND PROVIDED FURTHER THAT SUCH LIMITATION SHALL APPLY
 TO ALL BUILDINGS HELD IN COOPERATIVE FORM REGARDLESS OF OWNER  OCCUPANCY
 STATUS;  AND  PROVIDED  FURTHER  THAT THIS LIMITATION SHALL NOT APPLY TO
 REAL PROPERTY THAT IS VACANT AND ABANDONED, AS  DEFINED  IN  SUBDIVISION
 TWO  OF  SECTION THIRTEEN HUNDRED NINE  OF THE REAL PROPERTY ACTIONS AND
 PROCEEDINGS LAW, WHICH WAS LISTED ON THE STATEWIDE VACANT AND  ABANDONED
 PROPERTY ELECTRONIC REGISTRY, AS DEFINED IN SECTION THIRTEEN HUNDRED TEN
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

co-Sponsors

2021-S6310B (ACTIVE) - Details

See Assembly Version of this Bill:
A7776
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §924-a, RPT L
Versions Introduced in 2023-2024 Legislative Session:
S967, A1489

2021-S6310B (ACTIVE) - Summary

Relates to setting a maximum delinquent tax interest rate for payments due on owner occupied residential real property containing three or fewer dwelling units of seven and one half percent per annum.

2021-S6310B (ACTIVE) - Sponsor Memo

2021-S6310B (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6310--B
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              April 21, 2021
                                ___________
 
 Introduced  by  Sens. RYAN, GOUNARDES, MANNION, REICHLIN-MELNICK -- read
   twice and ordered printed, and when printed to  be  committed  to  the
   Committee  on  Local Government -- committee discharged, bill amended,
   ordered reprinted as amended and  recommitted  to  said  committee  --
   reported  favorably from said committee and committed to the Committee
   on Finance -- 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 delinquent tax
   interest rates
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision  1  of section 924-a of the real property tax
 law, as amended by chapter 26 of the laws of 2003, is amended to read as
 follows:
   1. The amount of interest to be added on all taxes received after  the
 interest  free  period and all delinquent taxes shall be one-twelfth the
 rate of interest as determined pursuant to subdivision two or  two-a  of
 this section rounded to the nearest one-hundredth of a percentage point,
 except as otherwise provided by a general or special law, or a local law
 adopted by a city pursuant to the municipal home rule law or any special
 law.  Such  interest  shall  be added for each month or fraction thereof
 until such taxes are paid; PROVIDED HOWEVER,  THAT  NOTWITHSTANDING  ANY
 PROVISION OF GENERAL, SPECIAL, OR LOCAL LAW OR RESOLUTION TO THE CONTRA-
 RY,  BEGINNING IN ALL LOCAL FISCAL YEARS COMMENCING IN CALENDAR YEAR TWO
 THOUSAND TWENTY-TWO AND THEREAFTER, IN NO CASE SHALL THE  INTEREST  RATE
 EXCEED  SEVEN  AND  ONE-HALF  PER  CENTUM  PER  ANNUM  OF DELINQUENT TAX
 PAYMENTS DUE ON OWNER  OCCUPIED  RESIDENTIAL  REAL  PROPERTY  CONTAINING
 THREE OR FEWER DWELLING UNITS; AND PROVIDED FURTHER THAT THIS LIMITATION
 SHALL APPLY TO UNITS HELD IN CONDOMINIUM FORM; AND PROVIDED FURTHER THAT
 SUCH  LIMITATION  SHALL  APPLY TO ALL BUILDINGS HELD IN COOPERATIVE FORM
 REGARDLESS OF OWNER OCCUPANCY STATUS; AND  PROVIDED  FURTHER  THAT  THIS
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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