senate Bill S4857A

Establishes assessments for the value of lands that may be used for prospective natural gas or oil development activities

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 27 / Apr / 2011
    • REFERRED TO LOCAL GOVERNMENT
  • 25 / May / 2011
    • 1ST REPORT CAL.874
  • 01 / Jun / 2011
    • 2ND REPORT CAL.
  • 02 / Jun / 2011
    • ADVANCED TO THIRD READING
  • 06 / Jun / 2011
    • AMENDED ON THIRD READING (T) 4857A
  • 15 / Jun / 2011
    • PASSED SENATE
  • 15 / Jun / 2011
    • DELIVERED TO ASSEMBLY
  • 15 / Jun / 2011
    • REFERRED TO WAYS AND MEANS
  • 04 / Jan / 2012
    • DIED IN ASSEMBLY
  • 04 / Jan / 2012
    • RETURNED TO SENATE
  • 04 / Jan / 2012
    • REFERRED TO LOCAL GOVERNMENT

Summary

Establishes assessments for the value of lands that may be used for prospective natural gas or oil development activities.

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Bill Details

Versions:
S4857
S4857A
Legislative Cycle:
2011-2012
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add ยง582-b, RPT L

Sponsor Memo

BILL NUMBER:S4857A

TITLE OF BILL:
An act
to amend the real property tax law, in relation to establishing
assessments for the value of lands that may be used for
prospective natural gas or oil
development activities

PURPOSE:
The purpose of this legislation is to ensure that property owners are
not assessed for undeveloped mineral rights.

SUMMARY OF PROVISIONS:
This bill amends the real property tax law by adding a new section
582-b that establishes where oil and gas rights in land have been
leased or conveyed, such land shall not be subject to an increase in
assessment solely because of such lease or conveyance.

JUSTIFICATION:
A person owning property that mayor may not contain undeveloped
minerals may choose never to extract those minerals. Without
excavating these minerals there would be no way to determine the
exact value of such property, therefore, the property should be
assessed solely on the current use of the land.

Nothing in this section shall prohibit an assessment increase due to
oil and gas extraction pursuant to title 5 of article 5 of the real
property tax law.

LEGISLATIVE HISTORY:
New Bill.

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
Immediately.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 4857--A
    Cal. No. 874

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             April 27, 2011
                               ___________

Introduced  by  Sens.  O'MARA, LIBOUS -- read twice and ordered printed,
  and when printed to be committed to the Committee on Local  Government
  -- reported favorably from said committee, ordered to first and second
  report,  ordered  to  a  third reading, amended and ordered reprinted,
  retaining its place in the order of third reading

AN ACT to amend the real property tax law, in relation  to  establishing
  assessments  for  the  value of lands that may be used for prospective
  natural gas or oil development activities

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  real  property  tax  law  is amended by adding a new
section 582-b to read as follows:
  S 582-B. VALUATION OF  PROSPECTIVE  NATURAL  GAS  OR  OIL  DEVELOPMENT
ACTIVITIES.  WHERE  OIL  AND  GAS  RIGHTS  IN  LAND  HAVE BEEN LEASED OR
CONVEYED, SUCH LAND SHALL NOT BE SUBJECT TO AN  INCREASE  IN  ASSESSMENT
SOLELY  BECAUSE  OF  SUCH  LEASE  OR CONVEYANCE. NOTHING IN THIS SECTION
SHALL PROHIBIT AN ASSESSMENT INCREASE DUE  TO  OIL  AND  GAS  EXTRACTION
PURSUANT TO TITLE FIVE OF THIS ARTICLE.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11005-03-1

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