senate Bill S3702B

Signed by Governor

Provides for process for rebate of real property taxes on certain real property seriously damaged by the severe storm of October 29 & 30, 2012 in cities of one million or more

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Bill Status


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

  • 11 / Feb / 2013
    • REFERRED TO CITIES
  • 12 / Mar / 2013
    • 1ST REPORT CAL.198
  • 13 / Mar / 2013
    • 2ND REPORT CAL.
  • 14 / Mar / 2013
    • ADVANCED TO THIRD READING
  • 29 / May / 2013
    • AMENDED ON THIRD READING (T) 3702A
  • 13 / Jun / 2013
    • AMENDED ON THIRD READING 3702B
  • 17 / Jun / 2013
    • PASSED SENATE
  • 17 / Jun / 2013
    • DELIVERED TO ASSEMBLY
  • 17 / Jun / 2013
    • REFERRED TO REAL PROPERTY TAXATION
  • 20 / Jun / 2013
    • SUBSTITUTED FOR A7995
  • 20 / Jun / 2013
    • ORDERED TO THIRD READING RULES CAL.572
  • 20 / Jun / 2013
    • PASSED ASSEMBLY
  • 20 / Jun / 2013
    • RETURNED TO SENATE
  • 19 / Jul / 2013
    • DELIVERED TO GOVERNOR
  • 31 / Jul / 2013
    • SIGNED CHAP.250

Summary

Provides for process for rebate of real property taxes on residential real property seriously damaged by severe storm of October 29 & 30, 2012 in cities of one million or more.

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Bill Details

See Assembly Version of this Bill:
A7995
Versions:
S3702
S3702A
S3702B
Legislative Cycle:
2013-2014
Law Section:
Real Property Tax Law
Laws Affected:
Add ยง467-g, RPT L

Sponsor Memo

BILL NUMBER:S3702B

TITLE OF BILL: An act to amend the real property tax law, in relation
to a rebate of real property taxes on real property seriously damaged
by the severe storm that occurred on the twenty-ninth and thirtieth of
October, two thousand twelve in a city having a population of one
million or more

SUMMARY OF PROVISIONS:

Section one of this bill adds a new section 467-g to the Real Property
Tax Law to authorize cities with a population of one million or more
to grant a rebate of real property taxes for any tax lot in such city
that, as of the taxable status date for assessment of real property in
such city for fiscal year 2013, covering the period between July 1,
2012 and June 30, 2013, contained property on which there is a
building that the Department of Buildings of such city, after
inspection, has, during the period between November 1, 2012 and
November 30, 2012, determined either (a) that a building on the tax
lot was seriously damaged and is unsafe to enter or occupy or was
completely demolished as a result of the effects of Hurricane Sandy
and such determination has been indicated by a notation on Department
of Buildings records and/or by the posting of a red placard warning on
the building; or (b) that a building on the tax lot requires repairs
or has a restricted area, and such determination has been indicated on
Department of Buildings records and/or by the posting of a yellow
sticker on the building, and, during the period beginning December 1,
2012 and ending December 28, 2012, the Department of Buildings
determined the building to be seriously damaged and unsafe to enter or
occupy or completely demolished as a result of the effects of
Hurricane Sandy, and such determination has been indicated by a
notation on DOB records and/or by the posting of a red placard warning
on the building.

The bill provides that the rebate be paid to the owner who owned the
building on October 30, 2012. The amount of the rebate is equal to
two-thirds of that portion of the annual tax on an eligible real
property that is attributable to the assessed valuation of the
improvements on the property. With respect to eligible cooperative
property, each unit owner is entitled to that portion of the rebate
calculated for the entire property that is attributable to the unit,
as determined by the proportion of the shares of stock representing
the unit to the total outstanding stock of the cooperative
corporation. With respect to real property described in paragraph (c)
of subdivision 1 of section 1802 of the Real Property Tax Law, that
is, residential real property consisting of one-family owner-occupied
houses situated on land held in cooperative ownership by owner
occupiers that constituted bungalow colonies in existence prior to
1940, the amount of the rebate is calculated to reflect cases in which
only some of the houses located in the cooperative development meet
the bill's definition of eligible real property. For such property,
the amount of the rebate is equal to two-thirds of that portion of the
annual tax on the entire cooperative development of which the owner's
building is a part, that is attributable to the assessed valuation of
the improvements on the cooperative development, multiplied by a
fraction, the numerator of which is equal to the number of buildings
in the cooperative development that were designated by the Department


of Buildings as described above, and the denominator of which is the
total number of buildings that were located in the cooperative
development as of October 28, 2012, the day immediately prior to the
onset of Hurricane Sandy, divided by the number of buildings in the
cooperative development that were designated by the Department of
Buildings as described above.

No rebate is made available for a property with no annual tax, or for
a property with real property tax arrears in excess of $25.00 for
fiscal year 2013 or any prior year. However, the bill provides that if
the Commissioner of Finance denies a rebate because of tax arrears,
the owner will be so notified and given the opportunity to become
eligible for the rebate by paying the arrears in full within six
months. Annual tax is defined in the bill as the amount of tax that is
actually imposed on eligible real property, and does not include any
amount from which an eligible real property is exempt, or which is
abated, pursuant to applicable law. This bill also makes provisions
for the mailing of the rebate to an appropriate forwarding address;
and for the collection of erroneous payments.

Section two provides for the bill to take effect immediately.

REASONS FOR SUPPORT:

This legislation would provide real property tax relief to New York
City residents whose properties were severely damaged by Hurricane
Sandy. Under current law, the taxable status of real property in New
York City was fixed for the 2013 fiscal year on January 5, 2012, the
taxable status date for real property, and real property taxes billed
for fiscal year 2013 must be based on the condition of the real
property on that date. Beginning on October 29, 2012, and continuing
thereafter, Hurricane Sandy caused a severe storm surge in areas of
New York City that resulted in damage to a number of buildings. The
Department of Buildings (DOB) has inspected the structural stability
of buildings affected by the hurricane and tagged with a red placard
and/or indicated on its records, those buildings that it determined to
be seriously damaged and unsafe to enter or occupy or completely
demolished as a result of the effects of the hurricane.

Current law does not provide a mechanism for reducing the assessed
valuation of real property and the tax based thereon for fiscal year
2013 to reflect the serious damage and resulting decrease in value
that was inflicted on real property by Hurricane Sandy. In order to
assist owners and tenant-stockholders of properties on which there is
a building that the Department of Buildings determined to be seriously
damaged and unsafe to enter or occupy or completely demolished as a
result of the effects of Hurricane Sandy, this bill authorizes a city
with a population of one million or more to enact a local law to grant
a rebate of real property taxes to owners and tenant-stockholders of
eligible properties. The amount of the rebate reflects the reduction
in value of the improvements on eligible property for a period of
eight months (two-thirds of a year) from the date of Hurricane Sandy
to the end of fiscal year 2013. These rebates would provide much
needed relief to some of our most devastated citizens.

Accordingly, the Mayor urges the earliest possible favorable
consideration of this proposal by the Legislature.


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

                                 3702--B
    Cal. No. 198

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            February 11, 2013
                               ___________

Introduced  by  Sens.  LANZA,  GOLDEN,  SAVINO,  FELDER,  ADAMS, AVELLA,
  HASSELL-THOMPSON, SAMPSON, SMITH -- read twice  and  ordered  printed,
  and  when  printed  to  be  committed  to  the  Committee on Cities --
  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 -- again 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  a  rebate  of
  real  property  taxes on real property seriously damaged by the severe
  storm that occurred on the twenty-ninth and thirtieth of October,  two
  thousand twelve in a city having a population of one million or more

  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 467-g to read as follows:
  S  467-G. REBATE FOR OWNERS OF CERTAIN REAL PROPERTY SERIOUSLY DAMAGED
BY THE SEVERE STORM THAT OCCURRED ON THE TWENTY-NINTH AND  THIRTIETH  OF
OCTOBER,  TWO  THOUSAND  TWELVE  IN  A  CITY  HAVING A POPULATION OF ONE
MILLION OR MORE. 1. GENERALLY.   NOTWITHSTANDING ANY  PROVISION  OF  ANY
GENERAL,  SPECIAL  OR LOCAL LAW TO THE CONTRARY, ANY CITY HAVING A POPU-
LATION OF ONE MILLION OR MORE IS  HEREBY  AUTHORIZED  AND  EMPOWERED  TO
ADOPT  AND  AMEND  LOCAL LAWS IN ACCORDANCE WITH THIS SECTION TO GRANT A
REBATE OF REAL PROPERTY TAXES FOR THE FISCAL YEAR BEGINNING ON THE FIRST
OF JULY, TWO THOUSAND TWELVE, IN THE AMOUNT PROVIDED  IN  THIS  SECTION.
SUCH REBATE SHALL BE PAID BY THE COMMISSIONER OF FINANCE TO AN OWNER WHO
OWNED  ELIGIBLE  REAL  PROPERTY  AS DEFINED IN SUBDIVISION THREE OF THIS
SECTION OR A UNIT IN SUCH ELIGIBLE REAL PROPERTY  ON  THE  THIRTIETH  OF
OCTOBER,  TWO THOUSAND TWELVE. IF LEGAL TITLE TO ELIGIBLE REAL PROPERTY,
OR OWNERSHIP OF SHARES OF STOCK REPRESENTING A DWELLING UNIT, IS HELD BY
ONE OR MORE TRUSTEES, THE BENEFICIAL OWNER OR OWNERS SHALL BE DEEMED  TO
OWN THE PROPERTY OR DWELLING UNIT FOR PURPOSES OF THIS SECTION. NOTWITH-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08779-09-3

S. 3702--B                          2

STANDING  ANY  PROVISION OF THIS ARTICLE TO THE CONTRARY, AN OWNER WHOSE
PROPERTY IS RECEIVING BENEFITS PURSUANT TO ANY  OTHER  SECTION  OF  THIS
ARTICLE SHALL NOT BE PROHIBITED FROM RECEIVING A REBATE PURSUANT TO THIS
SECTION IF SUCH OWNER IS OTHERWISE ELIGIBLE TO RECEIVE SUCH REBATE.
  2. DEFINITIONS. AS USED IN THIS SECTION:
  A.  "ANNUAL TAX" MEANS THE AMOUNT OF REAL PROPERTY TAX THAT IS IMPOSED
ON A PROPERTY FOR THE FISCAL YEAR BEGINNING ON THE FIRST  OF  JULY,  TWO
THOUSAND  TWELVE,  DETERMINED  AFTER REDUCTION FOR ANY AMOUNT FROM WHICH
THE PROPERTY IS EXEMPT, OR WHICH IS ABATED, PURSUANT TO APPLICABLE LAW.
  B. "ASSESSED VALUATION" MEANS THE ASSESSED VALUATION OF REAL  PROPERTY
THAT  WAS  USED TO DETERMINE THE ANNUAL TAX AS DEFINED IN PARAGRAPH A OF
THIS SUBDIVISION, AND WHICH IS NOT REDUCED BY ANY  EXEMPTION  FROM  REAL
PROPERTY  TAXES. FOR REAL PROPERTY CLASSIFIED AS CLASS TWO OR CLASS FOUR
REAL PROPERTY AS DEFINED IN SUBDIVISION ONE OF SECTION EIGHTEEN  HUNDRED
TWO  OF  THIS  CHAPTER  TO  WHICH  SUBDIVISION THREE OF SECTION EIGHTEEN
HUNDRED FIVE OF THIS CHAPTER APPLIES,  THE  ASSESSED  VALUATION  IS  THE
LOWER  OF  THE ASSESSED VALUATION AND TRANSITIONAL ASSESSED VALUATION AS
PROVIDED IN SUBDIVISION THREE OF SECTION EIGHTEEN HUNDRED FIVE  OF  THIS
CHAPTER,  AND  WHICH  IS NOT REDUCED BY ANY EXEMPTION FROM REAL PROPERTY
TAXES.
  C. "COMMISSIONER OF FINANCE" MEANS THE COMMISSIONER OF  FINANCE  OF  A
CITY HAVING A POPULATION OF ONE MILLION OR MORE, OR HIS OR HER DESIGNEE.
  D.   "COOPERATIVE  DEVELOPMENT"  MEANS,  WITH  RESPECT  TO  PROPERTIES
DESCRIBED IN SUBPARAGRAPH (C) OF PARAGRAPH CLASS ONE OF SUBDIVISION  ONE
OF  SECTION EIGHTEEN HUNDRED TWO OF THIS CHAPTER, ALL OF THE PROPERTIES,
INCLUDING THE LAND AND IMPROVEMENTS THEREON, AS TO  WHICH  THE  LAND  IS
HELD BY A SINGLE COOPERATIVE CORPORATION.
  E.  "DEPARTMENT  OF  BUILDINGS" MEANS THE DEPARTMENT OF BUILDINGS OF A
CITY HAVING A POPULATION OF ONE MILLION OR MORE.
  F. "DEPARTMENT OF FINANCE" MEANS THE DEPARTMENT OF FINANCE OF  A  CITY
HAVING A POPULATION OF ONE MILLION OR MORE.
  G.  "OWNER"  MEANS THE OWNER OF REAL PROPERTY, OR A TENANT-STOCKHOLDER
OF A UNIT IN REAL PROPERTY HELD IN THE COOPERATIVE FORM OF OWNERSHIP  ON
THE THIRTIETH OF OCTOBER, TWO THOUSAND TWELVE.
  3.  ELIGIBLE REAL PROPERTY. A. FOR PURPOSES OF THIS SECTION, "ELIGIBLE
REAL PROPERTY" MEANS ANY TAX LOT THAT CONTAINED, ON THE APPLICABLE TAXA-
BLE STATUS DATE, CLASS ONE, CLASS TWO OR CLASS  FOUR  REAL  PROPERTY  AS
SUCH  CLASSES OF REAL PROPERTY ARE DEFINED IN SUBDIVISION ONE OF SECTION
EIGHTEEN HUNDRED TWO OF THIS CHAPTER, ON WHICH  ANY  BUILDING  HAS  BEEN
DESIGNATED BY THE DEPARTMENT OF BUILDINGS IN ACCORDANCE WITH PARAGRAPH B
OF THIS SUBDIVISION.
  B. FOR PURPOSES OF THIS SECTION, A BUILDING HAS BEEN DESIGNATED BY THE
DEPARTMENT OF BUILDINGS IF:
  (1) DURING THE PERIOD BEGINNING ON THE FIRST OF NOVEMBER, TWO THOUSAND
TWELVE  AND  ENDING  ON  THE THIRTIETH OF NOVEMBER, TWO THOUSAND TWELVE,
AFTER INSPECTION BY THE DEPARTMENT, SUCH BUILDING HAS BEEN DETERMINED TO
BE SERIOUSLY DAMAGED AND UNSAFE TO ENTER OR OCCUPY OR COMPLETELY  DEMOL-
ISHED  AS  A  RESULT OF DAMAGE CAUSED BY THE EFFECTS OF THE SEVERE STORM
THAT OCCURRED ON THE TWENTY-NINTH AND THIRTIETH OF OCTOBER, TWO THOUSAND
TWELVE, AND SUCH DETERMINATION HAS BEEN INDICATED BY A NOTATION ON  SUCH
DEPARTMENT'S  RECORDS  AND/OR BY THE POSTING OF A RED PLACARD WARNING ON
THE BUILDING; OR
  (2) DURING THE PERIOD BEGINNING ON THE FIRST OF NOVEMBER, TWO THOUSAND
TWELVE AND ENDING ON THE THIRTIETH OF  NOVEMBER,  TWO  THOUSAND  TWELVE,
AFTER INSPECTION BY THE DEPARTMENT, SUCH BUILDING HAS BEEN DETERMINED TO
REQUIRE  REPAIRS OR TO HAVE A RESTRICTED AREA AND SUCH DETERMINATION HAS

S. 3702--B                          3

BEEN INDICATED BY A NOTATION ON SUCH DEPARTMENT'S RECORDS AND/OR BY  THE
POSTING  OF  A  YELLOW  STICKER  ON  THE BUILDING, AND DURING THE PERIOD
BEGINNING ON THE FIRST OF DECEMBER, TWO THOUSAND TWELVE  AND  ENDING  ON
THE  TWENTY-EIGHTH OF DECEMBER, TWO THOUSAND TWELVE, AFTER INSPECTION BY
THE DEPARTMENT, SUCH  BUILDING  HAS  BEEN  DETERMINED  TO  BE  SERIOUSLY
DAMAGED  AND  UNSAFE  TO  ENTER  OR OCCUPY OR COMPLETELY DEMOLISHED AS A
RESULT OF DAMAGE CAUSED BY THE EFFECTS OF THE SEVERE STORM THAT OCCURRED
ON THE TWENTY-NINTH AND THIRTIETH OF OCTOBER, TWO THOUSAND  TWELVE,  AND
SUCH DETERMINATION HAS BEEN INDICATED BY A NOTATION ON SUCH DEPARTMENT'S
RECORDS AND/OR BY THE POSTING OF A RED PLACARD WARNING ON THE BUILDING.
  4.  AMOUNT  OF  REBATE.  A. THE AMOUNT OF THE REBATE TO BE PAID BY THE
COMMISSIONER OF FINANCE FOR ELIGIBLE REAL PROPERTY PURSUANT TO  SUBDIVI-
SION ONE OF THIS SECTION SHALL BE EQUAL TO TWO-THIRDS OF THE ANNUAL TAX,
MULTIPLIED  BY  A  FRACTION,  THE  NUMERATOR  OF  WHICH IS EQUAL TO THAT
PORTION OF THE ASSESSED VALUATION OF THE ELIGIBLE REAL PROPERTY THAT  IS
ATTRIBUTABLE TO THE IMPROVEMENTS ON THE PROPERTY, AND THE DENOMINATOR OF
WHICH  IS  EQUAL  TO  THE  TOTAL ASSESSED VALUATION OF THE ELIGIBLE REAL
PROPERTY.
  B. EXCEPT AS PROVIDED IN SUBDIVISION FIVE OF THIS SECTION, FOR PROPER-
TY HELD IN THE COOPERATIVE FORM OF OWNERSHIP, THE AMOUNT OF  THE  REBATE
TO BE PAID TO THE OWNER OF A UNIT THEREIN SHALL BE EQUAL TO THAT PROPOR-
TION OF THE AMOUNT CALCULATED UNDER PARAGRAPH A OF THIS SUBDIVISION THAT
IS  ATTRIBUTABLE  TO  SUCH  UNIT,  AS  DETERMINED  BY  THE  PROPORTIONAL
RELATIONSHIP OF THE OWNER'S SHARE OR SHARES OF STOCK IN THE  COOPERATIVE
APARTMENT  CORPORATION  THAT  OWNS  SUCH  REAL  PROPERTY  TO  THE  TOTAL
OUTSTANDING STOCK OF THE COOPERATIVE APARTMENT CORPORATION.
  C. ELIGIBLE REAL PROPERTY WITH NO ANNUAL TAX SHALL NOT BE ELIGIBLE FOR
A REBATE UNDER THIS SECTION.
  5. CALCULATION OF REBATE FOR CERTAIN CLASS ONE REAL PROPERTY  CONSIST-
ING  OF ONE FAMILY HOUSE STRUCTURES SITUATED ON LAND HELD IN COOPERATIVE
OWNERSHIP.
  A. NOTWITHSTANDING THE PROVISIONS OF SUBDIVISION FOUR OF THIS SECTION,
THE AMOUNT OF THE REBATE TO BE PAID BY THE COMMISSIONER  OF  FINANCE  TO
THE  OWNER OF A BUILDING THAT WAS DESIGNATED BY THE DEPARTMENT OF BUILD-
INGS IN ACCORDANCE  WITH  PARAGRAPH  B  OF  SUBDIVISION  THREE  OF  THIS
SECTION,  THAT IS LOCATED ON ELIGIBLE REAL PROPERTY THAT IS DESCRIBED IN
SUBPARAGRAPH (C) OF PARAGRAPH CLASS ONE OF SUBDIVISION  ONE  OF  SECTION
EIGHTEEN  HUNDRED  TWO  OF THIS CHAPTER, SHALL BE EQUAL TO TWO-THIRDS OF
THE ANNUAL TAX ON THE  PROPERTY  OF  THE  COOPERATIVE  DEVELOPMENT,  (1)
MULTIPLIED  BY  A  FRACTION,  THE  NUMERATOR  OF  WHICH IS EQUAL TO THAT
PORTION OF THE ASSESSED VALUATION OF THE ELIGIBLE REAL PROPERTY  IN  THE
COOPERATIVE  DEVELOPMENT THAT IS ATTRIBUTABLE TO THE IMPROVEMENTS ON THE
PROPERTY, AND THE DENOMINATOR OF WHICH IS EQUAL TO  THE  TOTAL  ASSESSED
VALUATION  OF THE ELIGIBLE REAL PROPERTY IN THE COOPERATIVE DEVELOPMENT,
AND (2) MULTIPLIED BY A SECOND FRACTION, THE NUMERATOR OF WHICH IS EQUAL
TO THE NUMBER OF BUILDINGS IN THE COOPERATIVE DEVELOPMENT THAT HAVE BEEN
DESIGNATED BY THE DEPARTMENT OF BUILDINGS IN ACCORDANCE WITH PARAGRAPH B
OF SUBDIVISION THREE OF THIS SECTION, AND THE DENOMINATOR  OF  WHICH  IS
THE  TOTAL  NUMBER  OF  BUILDINGS  THAT  WERE LOCATED IN THE COOPERATIVE
DEVELOPMENT AS OF THE TWENTY-EIGHTH DAY OF OCTOBER, TWO THOUSAND TWELVE,
THEN (3) DIVIDED BY THE NUMBER OF BUILDINGS IN THE COOPERATIVE  DEVELOP-
MENT THAT HAVE BEEN DESIGNATED BY THE DEPARTMENT OF BUILDINGS IN ACCORD-
ANCE WITH PARAGRAPH B OF SUBDIVISION THREE OF THIS SECTION.
  B. ELIGIBLE REAL PROPERTY DESCRIBED IN THIS SUBDIVISION WITH NO ANNUAL
TAX SHALL NOT BE ELIGIBLE FOR A REBATE UNDER THIS SECTION.

S. 3702--B                          4

  6.  MAILING  OF  REBATE. A. THE COMMISSIONER OF FINANCE SHALL MAIL THE
REBATE AUTHORIZED BY THIS SECTION TO THE PERSON WHOSE  NAME  APPEARS  ON
THE  RECORDS  OF  THE DEPARTMENT OF FINANCE AS THE OWNER OF THE ELIGIBLE
REAL PROPERTY OR UNIT LOCATED THEREIN ON THE THIRTIETH OF  OCTOBER,  TWO
THOUSAND  TWELVE,  AT  AN  ADDRESS  ON  THE RECORDS OF THE DEPARTMENT OF
FINANCE AS THE ADDRESS OF SUCH OWNER, AND IF NO SUCH ADDRESS APPEARS  ON
THE  RECORDS  OF THE DEPARTMENT OF FINANCE, THEN TO THE ADDRESS, IF ANY,
APPEARING IN THE LATEST ASSESSMENT ROLL AS THE ADDRESS OF THE  OWNER  OF
THE ELIGIBLE REAL PROPERTY. NOTWITHSTANDING THE PREVIOUS SENTENCE, IF AN
OWNER  HAS  NOTIFIED  THE  UNITED  STATES POSTAL SERVICE OF A FORWARDING
ADDRESS FOR MAIL THAT WOULD OTHERWISE HAVE  BEEN  SENT  TO  ANY  OF  THE
ADDRESSES  DESCRIBED  IN THE PREVIOUS SENTENCE, THEN THE COMMISSIONER OF
FINANCE MAY MAIL THE REBATE AUTHORIZED BY THIS SECTION TO SUCH  FORWARD-
ING ADDRESS.
  B.  NOTWITHSTANDING  PARAGRAPH  A OF THIS SUBDIVISION, WITH RESPECT TO
ANY REBATE TO WHICH AN OWNER OF A BUILDING THAT WAS  DESIGNATED  BY  THE
DEPARTMENT  OF  BUILDINGS  IN ACCORDANCE WITH PARAGRAPH B OF SUBDIVISION
THREE OF THIS SECTION THAT IS LOCATED ON ELIGIBLE REAL PROPERTY THAT  IS
DESCRIBED  IN SUBPARAGRAPH (C) OF PARAGRAPH CLASS ONE OF SUBDIVISION ONE
OF SECTION EIGHTEEN HUNDRED TWO OF THIS CHAPTER IS ENTITLED  UNDER  THIS
SECTION,  THE COMMISSIONER OF FINANCE SHALL MAIL THE REBATE TO THE COOP-
ERATIVE DEVELOPMENT OF WHICH THE OWNER'S PROPERTY  IS  A  PART,  AT  THE
ADDRESS  ON  THE  RECORDS OF THE DEPARTMENT OF FINANCE AS THE ADDRESS OF
THE COOPERATIVE CORPORATION THAT IS THE OWNER OF THE  LAND  INCLUDED  IN
THE  COOPERATIVE  DEVELOPMENT,  AND  IF  NO  SUCH ADDRESS APPEARS ON THE
RECORDS OF THE DEPARTMENT OF FINANCE,  THEN  TO  THE  ADDRESS,  IF  ANY,
APPEARING  IN  THE LATEST ASSESSMENT ROLL AS THE ADDRESS OF THE OWNER OF
SUCH LAND. NOTWITHSTANDING THE PREVIOUS  SENTENCE,  IF  THE  COOPERATIVE
CORPORATION  HAS NOTIFIED THE UNITED STATES POSTAL SERVICE OF A FORWARD-
ING ADDRESS FOR MAIL THAT WOULD OTHERWISE HAVE BEEN SENT TO ANY  OF  THE
ADDRESSES  DESCRIBED  IN THE PREVIOUS SENTENCE, THEN THE COMMISSIONER OF
FINANCE MAY MAIL THE REBATE AUTHORIZED BY THIS SECTION TO SUCH  FORWARD-
ING ADDRESS.
  7. RECOVERY OF ERRONEOUS REBATE. IF THE COMMISSIONER OF FINANCE DETER-
MINES  (A)  THAT  AN  OWNER  WHO RECEIVED A REBATE WAS NOT ENTITLED TO A
REBATE UNDER THIS SECTION, OR (B) THAT A REBATE WAS PAID  OR  CALCULATED
IN  ERROR  UNDER THIS SECTION, THE COMMISSIONER OF FINANCE SHALL RECOVER
OR RECALCULATE SUCH REBATE AND THE AMOUNT OF THE  REBATE  OR  AN  AMOUNT
EQUAL  TO  THE  DIFFERENCE  BETWEEN  THE  REBATE ORIGINALLY PAID AND THE
AMOUNT TO WHICH THE OWNER WAS ENTITLED SHALL BE DEDUCTED FROM ANY REFUND
OR REBATE OTHERWISE PAYABLE TO THE OWNER, AND ANY BALANCE OF SUCH AMOUNT
REMAINING UNPAID SHALL BE PAID TO THE COMMISSIONER OF FINANCE  NO  LATER
THAN THE DUE AND PAYABLE DATE PROVIDED ON A NOTICE OF THE AMOUNT PAYABLE
MAILED BY THE COMMISSIONER OF FINANCE. SUCH AMOUNT PAYABLE SHALL CONSTI-
TUTE  A  TAX LIEN ON THE REAL PROPERTY OWNED BY SUCH OWNER AS OF THE DUE
AND PAYABLE DATE PROVIDED ON SUCH NOTICE, AND, IF NOT PAID BY  SUCH  DUE
AND  PAYABLE  DATE,  INTEREST  AT THE RATE APPLICABLE TO DELINQUENT REAL
PROPERTY TAXES ON SUCH PROPERTY SHALL BE CHARGED AND COLLECTED  ON  SUCH
AMOUNT FROM THE DUE AND PAYABLE DATE PROVIDED ON SUCH NOTICE TO THE DATE
OF  PAYMENT,  AND SUCH AMOUNT PAYABLE SHALL BE ENFORCEABLE AS A TAX LIEN
IN ACCORDANCE WITH PROVISIONS OF LAW RELATING TO THE ENFORCEMENT OF  TAX
LIENS IN ANY SUCH CITY.
  8.  REBATE  NOT DEEMED A REFUND. ANY REBATE AUTHORIZED BY THIS SECTION
TO BE PAID BY THE COMMISSIONER OF FINANCE SHALL NOT BE DEEMED  TO  BE  A
REFUND OF A REAL PROPERTY TAX PAYMENT.

S. 3702--B                          5

  9.  OVERPAYMENT.    IF,  IN ANY PROCEEDING BROUGHT PURSUANT TO ARTICLE
SEVEN OF THE REAL PROPERTY TAX LAW, THE ASSESSED VALUATION  OF  ELIGIBLE
REAL  PROPERTY  IS REDUCED FOR THE FISCAL YEAR BEGINNING ON THE FIRST OF
JULY, TWO THOUSAND TWELVE, AND SUCH REDUCTION RESULTS  IN  A  RETURN  OF
OVERPAYMENT  OF  REAL  PROPERTY  TAXES  PAID WITH RESPECT TO SUCH FISCAL
YEAR, THE AMOUNT OF SUCH OVERPAYMENT SHALL BE REDUCED BY THE  AMOUNT  OF
ANY  REBATE  PAID  PURSUANT  TO  THIS  SECTION.   IF SUCH OVERPAYMENT IS
RETURNED BEFORE A REBATE IS PAID PURSUANT TO THIS SECTION, THE AMOUNT OF
ANY REBATE PAID PURSUANT TO THIS SECTION SHALL BE REDUCED BY THE  AMOUNT
OF SUCH OVERPAYMENT.
  10.  RULEMAKING.  THE  COMMISSIONER  OF FINANCE SHALL BE AUTHORIZED TO
PROMULGATE RULES NECESSARY TO EFFECTUATE THE PURPOSES OF THIS SECTION.
  S 2. This act shall take effect immediately.

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