Assembly Bill A4972A

Signed By Governor
2023-2024 Legislative Session

Extends certain provisions relating to a partial tax abatement for residential real property held in the cooperative or condominium form

download bill text pdf

Sponsored By

Current 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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Bill Amendments

2023-A4972 - Details

See Senate Version of this Bill:
S3252
Law Section:
Real Property Tax Law
Laws Affected:
Amd §467-a, RPT L

2023-A4972 - Summary

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.

2023-A4972 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4972
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 27, 2023
                                ___________
 
 Introduced  by  M.  of  A.  BRAUNSTEIN  -- read once and referred to the
   Committee on Real Property Taxation
 
 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  184  of  the  laws  of
 2021, 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-two]
 TWENTY-FOUR  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  resi-
 dence  of such unit owner, shall be eligible to receive a partial abate-
 ment pursuant to paragraphs (d-1), (d-2), (d-3) and (d-4) of this subdi-
 vision.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08043-01-3
              

co-Sponsors

2023-A4972A (ACTIVE) - Details

See Senate Version of this Bill:
S3252
Law Section:
Real Property Tax Law
Laws Affected:
Amd §467-a, RPT L

2023-A4972A (ACTIVE) - Summary

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.

2023-A4972A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4972--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 27, 2023
                                ___________
 
 Introduced  by  M.  of  A.  BRAUNSTEIN  -- read once and referred to the
   Committee on Real Property Taxation -- reported and  referred  to  the
   Committee  on  Rules  --  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  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  184  of  the  laws  of
 2021, 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-two]
 TWENTY-SIX  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  resi-
 dence  of such unit owner, shall be eligible to receive a partial abate-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08043-02-3
              

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