Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 17, 2024 |
enacting clause stricken |
Feb 21, 2024 |
print number 9118a |
Feb 21, 2024 |
amend and recommit to housing |
Feb 07, 2024 |
referred to housing |
Assembly Bill A9118A
2023-2024 Legislative Session
Sponsored By
DURSO
Current Bill Status - Stricken
- 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
Bill Amendments
2023-A9118 - Details
- See Senate Version of this Bill:
- S8647
- Law Section:
- Private Housing Finance Law
- Laws Affected:
- Amd §125, Priv Hous Fin L
2023-A9118 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9118 I N A S S E M B L Y February 7, 2024 ___________ Introduced by M. of A. DURSO -- read once and referred to the Committee on Housing AN ACT to amend the private housing finance law, in relation to author- izing the granting of an additional real property tax exemption for certain redevelopment company projects within the county of Nassau THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 125 of the private housing finance law is amended by adding a new paragraph (a-5) to read as follows: (A-5) ANY INCONSISTENT PROVISION OF LAW NOTWITHSTANDING, THE COUNTY OF NASSAU, WITH RESPECT TO A PROJECT EITHER ACQUIRED BY A MUTUAL REDEVELOP- MENT COMPANY PURSUANT TO SECTION ONE HUNDRED TWENTY-SIX OF THIS ARTICLE OR OWNED AND CONTINUING TO BE OWNED BY A MUTUAL REDEVELOPMENT COMPANY WHICH WOULD REQUIRE SUBSTANTIAL INCREASES IN CARRYING CHARGES AFTER THE PERIOD OF TAX EXEMPTION IS ENDED UNLESS RELIEF IS PROVIDED, MAY CONTRACT WITH SUCH MUTUAL REDEVELOPMENT COMPANY TO EXTEND SUCH TAX EXEMPTION FOR NOT MORE THAN TWENTY-FIVE ADDITIONAL YEARS PROVIDED THAT THE TAX EXEMPTION DURING SUCH ADDITIONAL PERIOD MAY CONTINUE AT THE RATE OF THE TAX EXEMPTION OF SUCH PROJECT IMMEDIATELY PRECEDING THE TERMINATION OF THE INITIAL TWENTY-FIVE YEAR PERIOD FOR ALL OF THE ADDITIONAL TWENTY- FIVE YEAR PERIOD OR SHALL CONTINUE AT THE RATE OF THE TAX EXEMPTION OTHERWISE PROVIDED BY THIS SECTION. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14357-01-4
co-Sponsors
Jake Ryan Blumencranz
Eric Brown
Brian F. Curran
John K. Mikulin
2023-A9118A (ACTIVE) - Details
- See Senate Version of this Bill:
- S8647
- Law Section:
- Private Housing Finance Law
- Laws Affected:
- Amd §125, Priv Hous Fin L
2023-A9118A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9118--A I N A S S E M B L Y February 7, 2024 ___________ Introduced by M. of A. DURSO -- read once and referred to the Committee on Housing -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the private housing finance law, in relation to author- izing the granting of an additional real property tax exemption for certain redevelopment company projects within the county of Nassau THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 125 of the private housing finance law is amended by adding a new paragraph (a-5) to read as follows: (A-5) ANY INCONSISTENT PROVISION OF LAW NOTWITHSTANDING, INCLUDING BUT NOT LIMITED TO ANY LIMITATION IN PARAGRAPH (A) OF THIS SUBDIVISION, THE COUNTY OF NASSAU, WITH RESPECT TO A PROJECT EITHER: (I) ACQUIRED BY A MUTUAL REDEVELOPMENT COMPANY PURSUANT TO SECTION ONE HUNDRED TWENTY-SIX OF THIS ARTICLE; OR (II) OWNED AND CONTINUING TO BE OWNED BY A MUTUAL REDEVELOPMENT COMPANY AND THAT IS ALSO CLASSIFIED AS A COOPERATIVE HOUS- ING ASSOCIATION WHERE THERE IS A RESTRICTION THAT SAID HOUSING MUST BE OCCUPIED BY SENIORS WITH A MINIMUM AGE OF FIFTY-FIVE AS A CONDITION TO ANY RESTRICTIVE COVENANTS OF SAID COOPERATIVE HOUSING ASSOCIATION, WHICH WOULD REQUIRE SUBSTANTIAL INCREASES IN CARRYING AND/OR MAINTENANCE CHARGES AFTER THE INITIAL PERIOD OF TAX EXEMPTION IS ENDED OR IS GOING TO REQUIRE INCREASES IN THE CARRYING CHARGES AND/OR MAINTENANCE DURING ANY SUCH EXTENDED TAX EXEMPTION PURSUANT TO A PRESENT EXTENSION AGREE- MENT DUE TO THE REDUCTION OR ELIMINATION OF THE TAX EXEMPTION PROVIDED TO THE PROJECT IMMEDIATELY PRECEDING THE TERMINATION OF THE INITIAL TWENTY-FIVE YEAR PERIOD, UNLESS RELIEF IS PROVIDED, MAY CONTRACT WITH SUCH MUTUAL REDEVELOPMENT COMPANY TO: (I) EXTEND SUCH TAX EXEMPTION FOR NOT MORE THAN TWENTY-FIVE ADDITIONAL YEARS AT THE RATE OF THE TAX EXEMPTION OF SUCH PROJECT IMMEDIATELY PRECEDING THE TERMINATION OF THE INITIAL TWENTY-FIVE YEAR PERIOD FOR ALL OF THE ADDITIONAL TWENTY-FIVE YEAR PERIOD; OR (II) MODIFY AN EXISTING EXTENDED TAX EXEMPTION TO PROVIDE FOR SUCH AN EXTENSION. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14357-02-4
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