Assembly Bill A1611

2023-2024 Legislative Session

Relates to the conveyance of certain real property for open space, parks, or historic preservation purposes

download bill text pdf

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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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2023-A1611 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §1402-a, Tax L
Versions Introduced in 2021-2022 Legislative Session:
A8651

2023-A1611 (ACTIVE) - Summary

Exempts the conveyance of real property for open space, parks, or historic preservation purposes to any not-for-profit tax exempt corporation operated for conservation, environmental, or historic preservation purposes from the state real estate transfer tax and the additional tax on real estate transfers of residential real property where the consideration is one million dollars or more.

2023-A1611 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1611
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 17, 2023
                                ___________
 
 Introduced by M. of A. THIELE -- read once and referred to the Committee
   on Ways and Means
 
 AN  ACT to amend the tax law, in relation to exempting the conveyance of
   real property for open space, parks, or historic preservation purposes
   to any not-for-profit tax exempt corporation  operated  for  conserva-
   tion,  environmental, or historic preservation purposes from the state
   real estate transfer tax and the additional tax on real estate  trans-
   fers  of  residential  real  property  where  the consideration is one
   million dollars or more
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  1402-a of the tax law is amended by adding a new
 subdivision (d) to read as follows:
   (D) NOTWITHSTANDING ANY PROVISION OF LAW  TO  THE  CONTRARY,  THE  TAX
 IMPOSED  PURSUANT TO SECTION ONE THOUSAND FOUR HUNDRED TWO OF THIS ARTI-
 CLE AND THE ADDITIONAL TAX IMPOSED BY THIS SECTION SHALL  NOT  APPLY  TO
 THE CONVEYANCE OF REAL PROPERTY FOR OPEN SPACE, PARKS, OR HISTORIC PRES-
 ERVATION  PURPOSES TO ANY NOT-FOR-PROFIT TAX EXEMPT CORPORATION OPERATED
 FOR CONSERVATION, ENVIRONMENTAL OR HISTORIC PRESERVATION PURPOSES.
   § 2. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05670-01-3

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