Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2024 |
referred to real property taxation |
Dec 29, 2023 |
referred to real property taxation |
Assembly Bill A8479
2023-2024 Legislative Session
Sponsored By
MAMDANI
Archive: Last 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
Actions
co-Sponsors
Emily Gallagher
Marcela Mitaynes
Sarahana Shrestha
Phara Souffrant Forrest
2023-A8479 (ACTIVE) - Details
- See Senate Version of this Bill:
- S7798
- Current Committee:
- Assembly Real Property Taxation
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd §420-a, RPT L
2023-A8479 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8479 2023-2024 Regular Sessions I N A S S E M B L Y December 29, 2023 ___________ Introduced by M. of A. MAMDANI, GALLAGHER, MITAYNES, SHRESTHA, FORREST, TAYLOR, LEE, KIM, EPSTEIN, BICHOTTE HERMELYN -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to repealing the tax exempt status of educational institutions costing one hundred million dollars or more a year in real property tax exemptions THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 420-a of the real property tax law is amended by adding a new paragraph (c) to read as follows: (C) (I) REAL PROPERTY OWNED BY A CORPORATION OR ASSOCIATION ORGANIZED OR CONDUCTED EXCLUSIVELY FOR EDUCATIONAL PURPOSES, AND WHICH HAS BEEN USED EXCLUSIVELY FOR EDUCATIONAL PURPOSES, SHALL NOT BE EXEMPT FROM TAXATION PURSUANT TO PARAGRAPH (A) OF THIS SUBDIVISION IF THE AMOUNT OF REAL PROPERTY TAXES EXEMPTED FOR SUCH PROPERTY DURING THE PRIOR FISCAL YEAR COSTS ONE HUNDRED MILLION DOLLARS OR MORE. (II) MONEYS FROM PROPERTY TAXES IMPOSED ON PRIVATE HIGHER EDUCATION FACILITIES PURSUANT TO SUBPARAGRAPH (I) OF THIS PARAGRAPH SHALL BE USED FOR THE CITY UNIVERSITY OF NEW YORK, AS ESTABLISHED BY ARTICLE ONE HUNDRED TWENTY-FIVE OF THE EDUCATION LAW. § 2. This act shall take effect on the same date as a concurrent resolution amending the constitution, entitled "CONCURRENT RESOLUTION OF THE SENATE AND ASSEMBLY proposing an amendment to section 1 of article 16 of the constitution, in relation to real property tax exemptions for educational institutions", takes effect. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13497-04-3
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