Assembly Bill A1292A

2023-2024 Legislative Session

Relates to the taxation of property owned by a cooperative corporation

download bill text pdf

Sponsored By

Current 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

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Bill Amendments

co-Sponsors

2023-A1292 - Details

See Senate Version of this Bill:
S4065
Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §581, RPT L; amd §339-y, RP L
Versions Introduced in Other Legislative Sessions:
2009-2010: A5724, S255
2011-2012: A4981, S546
2013-2014: A682, S1000
2015-2016: A5484, S618
2017-2018: A2874, S1191
2019-2020: A5221, S7057
2021-2022: A3491, S5946

2023-A1292 - Summary

Relates to the taxation of property owned by a cooperative corporation.

2023-A1292 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1292
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 17, 2023
                                ___________
 
 Introduced by M. of A. WILLIAMS, MAGNARELLI, SEAWRIGHT, RIVERA, HYNDMAN,
   COOK,  STIRPE,  WALLACE  -- read once and referred to the Committee on
   Real Property Taxation
 
 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 (e) to read as follows:
   (E) 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 A MUNICIPAL CORPORATION, OTHER THAN A  SPECIAL
 ASSESSING  UNIT,  WHICH HAS ADOPTED, PRIOR TO THE TAXABLE STATUS DATE OF
 THE ASSESSMENT ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW OR,
 FOR A SCHOOL DISTRICT, A RESOLUTION PROVIDING  THAT  THE  PROVISIONS  OF
 PARAGRAPH  (A) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH REAL PROPERTY
 WITHIN THAT MUNICIPAL CORPORATION; 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-FOUR;  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 (h) to read as follows:
   (H) THE PROVISIONS OF PARAGRAPH (B)  OF  THIS  SUBDIVISION  SHALL  NOT
 APPLY  TO  REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE CORPORATION OR
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05606-01-3

co-Sponsors

2023-A1292A (ACTIVE) - Details

See Senate Version of this Bill:
S4065
Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §581, RPT L; amd §339-y, RP L
Versions Introduced in Other Legislative Sessions:
2009-2010: A5724, S255
2011-2012: A4981, S546
2013-2014: A682, S1000
2015-2016: A5484, S618
2017-2018: A2874, S1191
2019-2020: A5221, S7057
2021-2022: A3491, S5946

2023-A1292A (ACTIVE) - Summary

Relates to the taxation of property owned by a cooperative corporation.

2023-A1292A (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1292--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 17, 2023
                                ___________
 
 Introduced by M. of A. WILLIAMS, MAGNARELLI, SEAWRIGHT, RIVERA, HYNDMAN,
   COOK, STIRPE, WALLACE, THIELE -- read once and referred to the Commit-
   tee  on Real Property Taxation -- recommitted to the Committee on Real
   Property Taxation in accordance  with  Assembly  Rule  3,  sec.  2  --
   committee  discharged,  bill amended, ordered reprinted as amended and
   recommitted to said committee
 
 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 (e) to read as follows:
   (E) 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 A MUNICIPAL CORPORATION, OTHER THAN A  SPECIAL
 ASSESSING  UNIT,  WHICH HAS ADOPTED, PRIOR TO THE TAXABLE STATUS DATE OF
 THE ASSESSMENT ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW OR,
 FOR A SCHOOL DISTRICT, A RESOLUTION PROVIDING  THAT  THE  PROVISIONS  OF
 PARAGRAPH  (A) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH REAL PROPERTY
 WITHIN THAT MUNICIPAL CORPORATION; 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-FIVE;  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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05606-03-4
 A. 1292--A                          2

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