S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7270
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 16, 2023
                                ___________
 
 Introduced by M. of A. McDONALD -- read once and referred to the Commit-
   tee on Real Property Taxation
 
 AN  ACT  in  relation  to  permitting  the City of Troy to retroactively
   extend a real property tax exemption to Hillside Redevelopment Associ-
   ates
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Notwithstanding any other provision of law to the contrary,
 the  City  of  Troy  is  hereby  authorized  to enter into a retroactive
 Payment-In-Lieu Of Tax Agreement ("PILOT Agreement") with Hillside Rede-
 velopment Associates, a New York limited partnership  and  redevelopment
 company,  granting  an  exemption  from  real property taxes pursuant to
 section 125 of the private housing finance law for the  2022  assessment
 roll, for the parcels located in the City of Troy, as set forth in Sche-
 dule "A" to the PILOT Agreement and more particularly identified below:
 
       CURRENT ADDRESS                   SECTION-BLOCK-LOT NUMBER
       2 Oakwood Ter.                    101.23-7-12
       2 Oakwood Ave.                    101.23-3-9
       65 Middleburgh St.                90.79-4-6
       379 Eighth St.                    101.22-14-3
       432 Eighth St.                    90.79-4-40
       488-492 Eighth St.                90.79-4-52
       243 Ninth St.                     101.23-5-28
       259 Ninth St.                     101.23-5-21
       261 Ninth St.                     101.23-5-20
       266 Ninth St.                     101.23-6-32
       274 Ninth St.                     101.23-6-36
       312 Ninth St.                     101.23-2-13
       319 Ninth St.                     90.79-4-37
       320 Ninth St.                     90.79-5-39
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11304-01-3
              

 A. 7270                             2

       335 Ninth St.                     90.79-4-28
       349 Ninth St.                     90.79-4-21
       357 Ninth St.                     90.79-4-18
       360 Ninth St.                     90.79-5-54
       399 Ninth St.                     90.71-8-10
       371 Tenth St.                     101.23-6-7.2
       497 Tenth St.                     90.71-10-9
       498-500 Tenth St.                 90.71-10-1
 
   The  PILOT  Agreement,  and  the exemption conferred thereby, shall be
 effective as if the PILOT Agreement had been fully executed and approved
 by the City Council of the City of Troy on or before the taxable  status
 dates  established  for  the  applicable roll. Upon approval by the City
 Council of the City of Troy and execution by all parties,  the  assessor
 of  the  City  of  Troy  may  grant exemption from all taxation and make
 appropriate corrections to the applicable roll.  Upon  the  granting  of
 exemption  and  such organization therefore shall have paid any tax with
 respect to the applicable roll, the governing  body  or  tax  department
 may,  in its sole discretion, provide for the refund of those taxes paid
 and cancel any taxes, fines, penalties, interest, or tax liens remaining
 unpaid.
   § 2. This act shall take effect immediately.