Senate Bill S4734

2023-2024 Legislative Session

Authorizes the commissioner of finance of the city of New York to establish a property tax amnesty program

download bill text pdf

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Current Bill Status - In Senate Committee Rules 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-S4734 (ACTIVE) - Details

Current Committee:
Senate Rules
Law Section:
Real Property Taxation

2023-S4734 (ACTIVE) - Summary

Authorizes the commissioner of finance of the city of New York to establish a property tax amnesty program; provides that such program shall last for 4 months and shall forgive up to $1000 of interest on a delinquent tax bill if 100 percent of the principal bill is paid.

2023-S4734 (ACTIVE) - Sponsor Memo

2023-S4734 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4734
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             February 14, 2023
                                ___________
 
 Introduced  by  Sen.  FELDER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Cities 1
 
 AN ACT authorizing the commissioner of finance of the city of  New  York
   to  establish  a  property  tax amnesty program; and providing for the
   repeal of such provisions upon expiration thereof

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Notwithstanding any provision of law to the contrary, the
 commissioner of finance of the city  of  New  York  shall  establish  an
 amnesty program for any property owner who has a delinquent property tax
 balance of more than $1,000 for more than one year. Such amnesty program
 shall last for a period of 4 months and shall:
   1. Forgive 100 percent of the interest on such delinquent property tax
 balance, if 100 percent of the principal bill is paid;
   2.  Forgive 75 percent of the interest on such delinquent property tax
 balance, if 50 percent of the principal bill is paid; and
   3. Forgive 50 percent of the interest on such delinquent property  tax
 balance, if 25 percent of the principal bill is paid.
   Any property owner with a delinquent property tax balance of less than
 $1,000  shall be eligible for forgiveness of 100 percent of the interest
 on such delinquent property tax balance if 100 percent of the  principal
 bill  is  paid.  Any property owner with a remaining delinquent property
 tax balance after participation  in  the  program  shall  enter  into  a
 payment agreement with the commissioner of finance.
   §  2.  This  act shall take effect immediately and shall expire and be
 deemed repealed one year after such date.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08923-01-3



              

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