Assembly Bill A4398

2023-2024 Legislative Session

Relates to exemption from taxation of alterations and improvements to multiple dwellings

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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2023-A4398 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §489, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: A5786
2011-2012: A7276
2013-2014: A3314
2015-2016: A3708
2017-2018: A7324
2019-2020: A6138
2021-2022: A5604

2023-A4398 (ACTIVE) - Summary

Relates to exemption from taxation of alterations and improvements to multiple dwellings by expanding certain provisions to include cities where the multiple residence law is applicable.

2023-A4398 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4398
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 14, 2023
                                ___________
 
 Introduced  by  M.  of A. FITZPATRICK, J. M. GIGLIO, MORINELLO, TAGUE --
   Multi-Sponsored by -- M. of A. BARCLAY, HAWLEY,  MANKTELOW,  McDONOUGH
   -- read once and referred to the Committee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to exemption from
   taxation of alterations and improvements to multiple dwellings

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The opening paragraph of paragraph (a) of subdivision 1  of
 section  489  of the real property tax law, as amended by chapter 176 of
 the laws of 2021, is amended to read as follows:
   Any city to which the multiple dwelling law OR THE MULTIPLE  RESIDENCE
 LAW  is  applicable,  acting through its local legislative body or other
 governing agency, is hereby authorized and empowered, to  and  including
 January first, two thousand twenty-two, to adopt and amend local laws or
 ordinances  providing  that  any  increase in assessed valuation of real
 property shall be exempt from taxation for local purposes,  as  provided
 herein, to the extent such increase results from:
   § 2. This act shall take effect immediately.
 

 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08417-01-3

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