NY State Senate Bill 2021-S7031

Senate Bill S7031

Signed By Governor

2021-2022 Legislative Session

Extends certain provisions relating to a 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

download bill text pdf

Archive: Last Bill Status - Signed by Governor

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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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jun 29, 2021	signed chap.184
Jun 17, 2021	delivered to governor
Jun 03, 2021	returned to senate passed assembly ordered to third reading rules cal.362 substituted for a7126
Jun 02, 2021	referred to ways and means delivered to assembly passed senate
Jun 01, 2021	ordered to third reading cal.1418 committee discharged and committed to rules
May 25, 2021	referred to cities 1

Votes

- Jun 2, 2021 - Floor Vote
  S7031
  
  63
  
  Aye
  
  0
  
  Nay
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Jun 2, 2021
      
      aye (63)
      
      Addabbo Jr.
      
      Akshar
      
      Bailey
      
      Benjamin
      
      Biaggi
      
      Borrello
      
      Boyle
      
      Breslin
      
      Brisport
      
      Brooks
      
      Brouk
      
      Comrie
      
      Cooney
      
      Felder
      
      Gallivan
      
      Gaughran
      
      Gianaris
      
      Gounardes
      
      Griffo
      
      Harckham
      
      Helming
      
      Hinchey
      
      Hoylman-Sigal
      
      Jackson
      
      Jordan
      
      Kaminsky
      
      Kaplan
      
      Kavanagh
      
      Kennedy
      
      Krueger
      
      Lanza
      
      Liu
      
      Mannion
      
      Martucci
      
      Mattera
      
      May
      
      Mayer
      
      Myrie
      
      O'Mara
      
      Oberacker
      
      Ortt
      
      Palumbo
      
      Parker
      
      Persaud
      
      Ramos
      
      Rath III
      
      Reichlin-Melnick
      
      Ritchie
      
      Rivera
      
      Ryan
      
      Salazar
      
      Sanders Jr.
      
      Savino
      
      Sepúlveda
      
      Serino
      
      Serrano
      
      Skoufis
      
      Stavisky
      
      Stec
      
      Stewart-Cousins
      
      Tedisco
      
      Thomas
      
      Weik
  Jun 1, 2021 - Rules Committee Vote
  S7031
  
  18
  
  Aye
  
  0
  
  Nay
  
  3
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Rules Committee Vote: Jun 1, 2021
      
      aye (18)
      
      Addabbo Jr.
      
      Bailey
      
      Benjamin
      
      Biaggi
      
      Boyle
      
      Breslin
      
      Comrie
      
      Gallivan
      
      Gianaris
      
      Kennedy
      
      Krueger
      
      Liu
      
      Mayer
      
      Ortt
      
      Parker
      
      Ritchie
      
      Savino
      
      Stewart-Cousins
      
      aye wr (3)
      
      Griffo
      
      Lanza
      
      O'Mara

2021-S7031 (ACTIVE) - Details

See Assembly Version of this Bill:: A7126
Law Section:: Real Property Tax Law
Laws Affected:: Amd §467-a, RPT L

2021-S7031 (ACTIVE) - Summary

2021-S7031 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S7031

SPONSOR: LIU
 
TITLE OF BILL:

An act to amend the real property tax law, in relation to extending
certain provisions relating to a 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

 
PURPOSE:

To extend for two years a real property tax abatement program for coop-
erative and condominium units in cities of one million or more.

 
SUMMARY OF PROVISIONS:

Section one amends paragraphs (a) and (b) of subdivision 2 of section
467-a of the real property tax law to extend for two years through the
New York City fiscal year that begins in 2022, a partial real property
tax abatement for cooperative and condominium units.

Section two amends paragraphs (d-1, (d-2), (d-3), and (d-4) of subdivi-
sion 2 of section 467-a of the real property tax law to extend for two
years through the City fiscal year that begins, in 2022, the current
28.1% partial property tax abatement for cooperative and condominium
units assessed at $50,000 or less; the current 25.2% partial property
tax abatement for cooperative and condominium units assessed at more
than $50,000, but less than or equal to $55,000; the current 22.5%
partial property tax abatement for cooperative and condominium units
assessed at more than $55,000, but less than or equal to $60,000; and
the current 17.5% partial property tax abatement for cooperative and
condominium units assessed at more than $60,000.

Section three amends paragraph (a) of subdivision 3 of section 467-a to
set deadlines for abatement applications by eligible unit owners.

Section four sets forth the effective date.

 
JUSTIFICATION:

The real property tax system in New York City burdens owners of co-op
and condominium units with significantly larger tax bills than the
owners of comparably valued one-, two-, and three-family homes.  Recog-
nizing this inequity, New York State authorized - and the City of New
York implemented - a partial property tax abatement program for co-op
and condo owners in 1996, which was last extended in 2019.  Extending
the current abatement program will continue the current level of relief
for hundreds of thousands of New York City co-op and condo owners.

 
PRIOR LEGISLATIVE HISTORY:

New Bill.

 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:

None

 
EFFECTIVE DATE:
This act shall take effect immediately.

2021-S7031 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7031
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                               May 25, 2021
                                ___________
 
 Introduced  by  Sen.  LIU  --  read  twice and ordered printed, and when
   printed to be committed to the Committee on Cities 1
 
 AN ACT to amend the real property tax  law,  in  relation  to  extending
   certain provisions relating to a 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. Paragraphs (a) and (b) of subdivision 2 of section 467-a of
 the real property tax law, as amended by chapter 90 of the laws of 2019,
 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
 calendar  years  two thousand twelve through two thousand [twenty] TWEN-
 TY-TWO 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 residence
 of such unit owner, shall be eligible to  receive  a  partial  abatement
 pursuant  to  paragraphs  (d-1), (d-2), (d-3) and (d-4) of this subdivi-
 sion.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD11055-01-1

 S. 7031                             2
 
   (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]  TWEN-
 TY-TWO  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.
   § 2. 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 90 of
 the laws of 2019, 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] TWEN-
 TY-TWO 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
 years  two  thousand  fifteen  through  two thousand [twenty] TWENTY-TWO
 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.

 S. 7031                             3
 
   (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] TWENTY-TWO eligible  dwelling
 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  attribut-
 able  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] TWENTY-TWO, eligible dwelling units
 in  property  whose average unit assessed value is more than sixty thou-
 sand 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.
   § 3. Paragraph (a) of subdivision 3 of section 467-a of the real prop-
 erty tax law, as amended by chapter 90 of the laws of 2019,  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
 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

 S. 7031                             4
 
 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] TWENTY-TWO 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.
   § 4. This act shall take effect immediately.

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