senate Bill S6689A

Relates to a property investment exemption in certain villages

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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 / Feb / 2014
    • REFERRED TO LOCAL GOVERNMENT
  • 20 / Mar / 2014
    • AMEND AND RECOMMIT TO LOCAL GOVERNMENT
  • 20 / Mar / 2014
    • PRINT NUMBER 6689A
  • 29 / Apr / 2014
    • 1ST REPORT CAL.447
  • 30 / Apr / 2014
    • 2ND REPORT CAL.
  • 05 / May / 2014
    • ADVANCED TO THIRD READING
  • 20 / Jun / 2014
    • COMMITTED TO RULES

Summary

Relates to a property investment exemption in certain villages.

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Bill Details

See Assembly Version of this Bill:
A9328
Versions:
S6689
S6689A
Legislative Cycle:
2013-2014
Current Committee:
Senate Rules
Law Section:
Real Property Tax Law
Laws Affected:
Add ยง485-q, RPT L

Votes

7
0
7
Aye
0
Nay
2
aye with reservations
0
absent
0
excused
0
abstained
show Local Government committee vote details

Sponsor Memo

BILL NUMBER:S6689A

TITLE OF BILL: An act to amend the real property tax law, in relation
to a property investment exemption in certain villages

PURPOSE: The measure is intended to authorize the Wappingers Village in
New York State to grant a property investment exemption for the purpose
of promoting re-development of vacant and blighted properties for
commercial, residential and mix-used.

SUMMARY OF PROVISIONS:

Section 1 adds a new section 485-q to the real property tax law that
would allow villages with a population of not less than 5,000 and not
more than 6,000 in counties with a population of not less than 290,000
and not more than 300,000 to grant a property investment exemption to
real property that was constructed, altered, installed, or improved
subsequent to July 1, 2013 for the purpose multi-family residential,
mixed use, commercial, business or industrial activity. These proper-
ties would be exempt from taxation and special ad valorem levies, except
for special ad valorem levies for fire district, fire protection
district and fire alarm district purposes as provided in this section.

Such real property would be exempt for a period of one year to the
extent of 60% of the increase in assessed value attributable to such
construction, alteration, installation or improvement and for a period
of 9 years where the percentage of the exemption would decrease by no
less than 5% each year during the additional period of 9 years.
Exemption shall be computed with respect to the "exemption base."
Exemption base shall be increase in assessed value as determined in
initial year of such ten year period following the filing of original
application.

Cost of such construction, alteration, installation or improvement must
exceed the sum of $10,000 or such greater amount as may be specified in
local law or resolution. Does not include ordinary maintenance or
repairs.

No such exemption shall be granted concurrently with or subsequent to
any other real property tax exemption granted to the same improvement,
except where during period of previous exemption, payments in lieu of
taxes or other payments were made to the local government in an amount
that would have been equal to or greater than the amount of real proper-
ty taxes that would have been paid on such improvements in relation to
this proposed section.

Such exemption shall only be granted upon application by the owner of
such real property on a form prescribed by the state board. Application
must be filed with appropriate local assessor or Treasurer. Assessor or
Treasurer can approve the application for tax exemption.

Provides definitions for mixed use property.

Allows municipalities to raise or reduce percentage of exemption;
provided, however, that a project in course of construction and that has
existing exemptions prior to passage of any local law or resolution
changing exemption, shall not be subject any such reduction.

Allows municipalities to establish by resolution a date for the
commencement of effectiveness of exemptions.

Allows municipalities to establish an Industrial and Commercial Incen-
tive Board that would be responsible for coordinating local plan for
business real property and making recommendations concerning how to use
tax exemptions. Outlines structure and responsibilities of the Indus-
trial and Commercial Incentive Board.

Section 2 sets an immediate effective date

JUSTIFICATION: New York State has a variety of tax exemptions meant to
give municipalities the ability to grant real property tax exemptions
for multi-family residential, mixed use, commercial, business or indus-
trial purposes. There are many areas of real property tax law that
currently allow cities, towns, and villages to provide real property tax
exemptions. Section 421-c exempts certain new multiple dwellings from
local taxation in relation to affordable housing in cities, towns, and
villages of less than 1 million. Section 421-f provides an exemption of
capital improvements to residential buildings. Section 488-a allows for
the rehabilitation of certain class B multiple dwellings and class A
multiple dwellings used for single room occupancy and Section 489 allows
for an exemption from taxation of alterations and improvements to multi-
ple dwellings to eliminate fire and health hazards.

New York State has recognized that appropriate tax exemptions offer
municipalities the flexibility to allow local property owners opportu-
nity to improve the quality of their property and community without
having the anxiety of being punished with higher property taxes in the
short-term. With high property taxes, it is vital that New York State
continues to empower municipalities to take positive steps to create
jobs, grow their economies, and improve their tax base.

This new section 485-q adds to over a dozen other Real Property Tax
Exemptions that currently allow municipalities in New York State these
types of incentives to property owners. It specifically recognizes that
more villages in New York State should be able to take control of their
economic future by creating effective public-private partnerships that
build new businesses and create more economic opportunity for their
residents. This legislation is in line with this principle.

LEGISLATIVE HISTORY: This is a new bill

LOCAL FISCAL IMPLICATIONS: Allows local municipalities to offer tax
exemptions which would exempt only the increased value in assessment
related to improvements. Has no impact on current revenues. Would likely

raise other forms of local and state revenue related to increased
economic activity.

EFFECTIVE DATE: This act shall take effect immediately.

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

                                 6689--A

                            I N  S E N A T E

                            February 27, 2014
                               ___________

Introduced  by  Sen.  GIPSON -- read twice and ordered printed, and when
  printed to be committed  to  the  Committee  on  Local  Government  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee

AN ACT to amend the real property tax law, in  relation  to  a  property
  investment exemption in certain villages

  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 485-q to read as follows:
  S  485-Q.  PROPERTY  INVESTMENT  EXEMPTION; CERTAIN VILLAGES. 1.  REAL
PROPERTY CONSTRUCTED, ALTERED, INSTALLED OR IMPROVED SUBSEQUENT  TO  THE
FIRST DAY OF JULY, TWO THOUSAND THIRTEEN FOR THE PURPOSE OF MULTI-FAMILY
RESIDENTIAL,  MIXED  USE, COMMERCIAL, BUSINESS OR INDUSTRIAL ACTIVITY IN
VILLAGES WITH A POPULATION OF NOT LESS THAN FIVE THOUSAND AND  NOT  MORE
THAN  SIX  THOUSAND  IN  COUNTIES WITH A POPULATION OF NOT LESS THAN TWO
HUNDRED NINETY THOUSAND AND NOT MORE THAN THREE  HUNDRED  FIVE  THOUSAND
MAY  BE  EXEMPT  FROM TAXATION AND SPECIAL AD VALOREM LEVIES, EXCEPT FOR
SPECIAL AD VALOREM LEVIES FOR FIRE DISTRICT,  FIRE  PROTECTION  DISTRICT
AND FIRE ALARM DISTRICT PURPOSES AS PROVIDED IN THIS SECTION.
  2. (A) (I) SUCH REAL PROPERTY SHALL BE EXEMPT FOR A PERIOD OF ONE YEAR
TO  THE  EXTENT  OF  SIXTY  PER CENTUM OF THE INCREASE IN ASSESSED VALUE
THEREOF ATTRIBUTABLE TO SUCH CONSTRUCTION, ALTERATION,  INSTALLATION  OR
IMPROVEMENT  AND FOR AN ADDITIONAL PERIOD OF NINE YEARS PROVIDED, HOWEV-
ER, THAT THE EXTENT OF SUCH EXEMPTION SHALL BE DECREASED BY NO LESS THAN
FIVE PER CENTUM EACH YEAR DURING SUCH ADDITIONAL PERIOD  OF  NINE  YEARS
AND  SUCH  EXEMPTION  SHALL  BE  COMPUTED WITH RESPECT TO THE "EXEMPTION
BASE." THE EXEMPTION BASE SHALL BE THE INCREASE  IN  ASSESSED  VALUE  AS
DETERMINED  IN  THE  INITIAL  YEAR OF SUCH TEN YEAR PERIOD FOLLOWING THE
FILING OF AN ORIGINAL APPLICATION, EXCEPT AS  PROVIDED  IN  SUBPARAGRAPH
(II) OF THIS PARAGRAPH.
  (II)  IN  ANY YEAR IN WHICH A CHANGE IN LEVEL OF ASSESSMENT OF FIFTEEN
PERCENT OR MORE IS CERTIFIED FOR A FINAL ASSESSMENT ROLL PURSUANT TO THE
RULES OF THE STATE BOARD, THE EXEMPTION BASE SHALL BE  MULTIPLIED  BY  A

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13708-03-4

S. 6689--A                          2

FRACTION,  THE  NUMERATOR  OF WHICH SHALL BE THE TOTAL ASSESSED VALUE OF
THE PARCEL ON SUCH FINAL ASSESSMENT ROLL (AFTER ACCOUNTING FOR ANY PHYS-
ICAL OR QUANTITY CHANGES TO THE PARCEL SINCE THE  IMMEDIATELY  PRECEDING
ASSESSMENT  ROLL),  AND  THE  DENOMINATOR  OF  WHICH  SHALL BE THE TOTAL
ASSESSED VALUE OF THE PARCEL ON THE IMMEDIATELY PRECEDING FINAL  ASSESS-
MENT  ROLL.  THE  RESULT  SHALL BE THE NEW EXEMPTION BASE. THE EXEMPTION
SHALL THEREUPON BE RECOMPUTED TO TAKE INTO  ACCOUNT  THE  NEW  EXEMPTION
BASE,  NOTWITHSTANDING  THE FACT THAT THE ASSESSOR OR TREASURER RECEIVES
THE CERTIFICATION OF  THE  CHANGE  IN  LEVEL  OF  ASSESSMENT  AFTER  THE
COMPLETION, VERIFICATION AND FILING OF THE FINAL ASSESSMENT ROLL. IN THE
EVENT  THE  ASSESSOR OR TREASURER DOES NOT HAVE CUSTODY OF THE ROLL WHEN
SUCH CERTIFICATION IS RECEIVED, THE ASSESSOR OR TREASURER SHALL  CERTIFY
THE  RECOMPUTED  EXEMPTION  TO  THE  LOCAL  OFFICERS  HAVING CUSTODY AND
CONTROL OF THE ROLL, AND SUCH LOCAL OFFICERS  ARE  HEREBY  DIRECTED  AND
AUTHORIZED  TO  ENTER THE RECOMPUTED EXEMPTION CERTIFIED BY THE ASSESSOR
OR TREASURER ON THE ROLL. THE ASSESSOR OR TREASURER SHALL  GIVE  WRITTEN
NOTICE  OF  SUCH RECOMPUTED EXEMPTION TO THE PROPERTY OWNER, WHO MAY, IF
HE OR SHE BELIEVES THAT THE EXEMPTION WAS RECOMPUTED INCORRECTLY,  APPLY
FOR  A  CORRECTION IN THE MANNER PROVIDED BY TITLE THREE OF ARTICLE FIVE
OF THIS CHAPTER FOR THE CORRECTION OF CLERICAL ERRORS.
  (III) THE FOLLOWING TABLE SHALL ILLUSTRATE THE COMPUTATION OF THE  TAX
EXEMPTION:
YEAR OF EXEMPTION            PERCENTAGE OF EXEMPTION TO BE NO MORE THAN:
         1                                      60
         2                                      55
         3                                      50
         4                                      45
         5                                      40
         6                                      35
         7                                      30
         8                                      25
         9                                      20
         10                                     15
  (B) NO SUCH EXEMPTION SHALL BE GRANTED UNLESS:
  (1)  SUCH  CONSTRUCTION,  ALTERATION,  INSTALLATION OR IMPROVEMENT WAS
COMMENCED SUBSEQUENT TO THE FIRST DAY OF JULY, TWO THOUSAND THIRTEEN  OR
SUCH LATER DATE AS MAY BE SPECIFIED BY LOCAL LAW OR RESOLUTION;
  (2)  THE  COST  OF  SUCH  CONSTRUCTION,  ALTERATION,  INSTALLATION  OR
IMPROVEMENT EXCEEDS THE SUM OF TEN  THOUSAND  DOLLARS  OR  SUCH  GREATER
AMOUNT AS MAY BE SPECIFIED BY LOCAL LAW OR RESOLUTION; AND
  (3)  SUCH  CONSTRUCTION,  ALTERATION,  INSTALLATION  OR IMPROVEMENT IS
COMPLETED AS MAY BE EVIDENCED BY A CERTIFICATE  OF  OCCUPANCY  OR  OTHER
APPROPRIATE DOCUMENTATION AS PROVIDED BY THE OWNER.
  (C)  FOR  PURPOSES OF THIS SECTION THE TERMS CONSTRUCTION, ALTERATION,
INSTALLATION AND IMPROVEMENT SHALL NOT INCLUDE ORDINARY MAINTENANCE  AND
REPAIRS.
  (D)  NO  SUCH EXEMPTION SHALL BE GRANTED CONCURRENT WITH OR SUBSEQUENT
TO ANY OTHER REAL PROPERTY TAX EXEMPTION GRANTED TO  THE  SAME  IMPROVE-
MENTS TO REAL PROPERTY, EXCEPT, WHERE DURING THE PERIOD OF SUCH PREVIOUS
EXEMPTION,  PAYMENTS IN LIEU OF TAXES OR OTHER PAYMENTS WERE MADE TO THE
LOCAL GOVERNMENT IN AN AMOUNT THAT WOULD HAVE BEEN EQUAL TO  OR  GREATER
THAN THE AMOUNT OF REAL PROPERTY TAXES THAT WOULD HAVE BEEN PAID ON SUCH
IMPROVEMENTS  HAD  SUCH  PROPERTY  BEEN GRANTED AN EXEMPTION PURSUANT TO
THIS SECTION. IN SUCH CASE, AN EXEMPTION SHALL BE GRANTED FOR  A  NUMBER
OF  YEARS  EQUAL  TO  THE  TEN  YEAR  EXEMPTION GRANTED PURSUANT TO THIS

S. 6689--A                          3

SECTION LESS THE NUMBER OF YEARS THE PROPERTY WOULD HAVE BEEN PREVIOUSLY
EXEMPT FROM REAL PROPERTY TAXES.
  3.  SUCH EXEMPTION SHALL BE GRANTED ONLY UPON APPLICATION BY THE OWNER
OF SUCH REAL PROPERTY ON A FORM PRESCRIBED  BY  THE  STATE  BOARD.  SUCH
APPLICATION  SHALL  BE FILED WITH THE ASSESSOR OR TREASURER OF THE CITY,
TOWN, VILLAGE, OR COUNTY HAVING THE POWER TO ASSESS PROPERTY  FOR  TAXA-
TION  ON  OR  BEFORE  THE  APPROPRIATE TAXABLE STATUS DATE OF SUCH CITY,
TOWN, VILLAGE OR COUNTY AND WITHIN ONE YEAR FROM THE DATE OF  COMPLETION
OF SUCH CONSTRUCTION, ALTERATION, INSTALLATION OR IMPROVEMENT.
  4.  IF  THE  ASSESSOR  OR TREASURER IS SATISFIED THAT THE APPLICANT IS
ENTITLED TO AN EXEMPTION PURSUANT TO  THIS  SECTION,  HE  OR  SHE  SHALL
APPROVE  THE  APPLICATION  AND  SUCH  REAL  PROPERTY SHALL THEREAFTER BE
EXEMPT FROM TAXATION AND SPECIAL AD VALOREM LEVIES, EXCEPT  FOR  SPECIAL
AD  VALOREM  LEVIES FOR FIRE DISTRICT, FIRE PROTECTION DISTRICT AND FIRE
ALARM DISTRICT PURPOSES, AS HEREIN PROVIDED COMMENCING WITH THE  ASSESS-
MENT ROLL PREPARED AFTER THE TAXABLE STATUS DATE REFERRED TO IN SUBDIVI-
SION  THREE OF THIS SECTION. THE ASSESSED VALUE OF ANY EXEMPTION GRANTED
PURSUANT TO THIS SECTION SHALL BE ENTERED BY THE ASSESSOR  OR  TREASURER
ON THE ASSESSMENT ROLL WITH THE TAXABLE PROPERTY, WITH THE AMOUNT OF THE
EXEMPTION SHOWN IN A SEPARATE COLUMN.
  5.  THE  PROVISIONS  OF THIS SECTION SHALL APPLY TO MIXED USE PROPERTY
WHERE THE FOLLOWING IS POSSIBLE: (A) REAL PROPERTY  USED  PRIMARILY  FOR
THE  BUYING, SELLING, STORING OR DEVELOPING GOODS OR SERVICES, THE MANU-
FACTURE OR ASSEMBLY OF GOODS OR THE PROCESSING OF RAW MATERIALS; AND (B)
REAL PROPERTY USED PRIMARILY FOR THE FURNISHING  OF  DWELLING  SPACE  OR
ACCOMMODATIONS  TO  EITHER  RESIDENTS OR TRANSIENTS OTHER THAN HOTELS OR
MOTELS.
  6. IN THE EVENT THAT REAL PROPERTY GRANTED AN  EXEMPTION  PURSUANT  TO
THIS  SECTION  CEASES  TO  BE  USED PRIMARILY FOR ELIGIBLE PURPOSES, THE
EXEMPTION GRANTED PURSUANT TO THIS SECTION SHALL CEASE.
  7. A COUNTY, CITY, TOWN OR VILLAGE MAY, BY LOCAL  LAW,  AND  A  SCHOOL
DISTRICT,  EXCEPT  A  CITY SCHOOL DISTRICT TO WHICH ARTICLE FIFTY-TWO OF
THE EDUCATION LAW APPLIES, MAY, BY RESOLUTION, REDUCE THE PER CENTUM  OF
EXEMPTION OTHERWISE ALLOWED PURSUANT TO THIS SECTION; PROVIDED, HOWEVER,
THAT  A  PROJECT IN COURSE OF CONSTRUCTION AND EXEMPTIONS EXISTING PRIOR
IN TIME TO PASSAGE OF ANY SUCH LOCAL LAW  OR  RESOLUTION  SHALL  NOT  BE
SUBJECT  TO  ANY  SUCH  REDUCTION  SO  EFFECTED. ANY COUNTY, CITY, TOWN,
VILLAGE OR SCHOOL DISTRICT THAT HAS REDUCED THE PER CENTUM OF  EXEMPTION
PURSUANT  TO THIS SUBDIVISION MAY THEREAFTER, BY LOCAL LAW OR RESOLUTION
AS THE CASE MAY BE, INCREASE THE PER CENTUM OF EXEMPTION UP TO  ANY  PER
CENTUM NOT EXCEEDING THE MAXIMUM ALLOWED BY SUBDIVISION TWO OR TWELVE OF
THIS  SECTION, WHICHEVER IS APPLICABLE, PROVIDED, HOWEVER, THAT ANY SUCH
LOCAL LAW OR RESOLUTION SHALL APPLY ONLY TO  CONSTRUCTION,  ALTERATIONS,
INSTALLATIONS,  OR  IMPROVEMENTS  COMMENCED  SUBSEQUENT TO THE EFFECTIVE
DATE OF SUCH LOCAL LAW OR RESOLUTION. A COPY OF ALL SUCH LOCAL  LAWS  OR
RESOLUTIONS  SHALL  BE  FILED  WITH  THE STATE BOARD AND THE ASSESSOR OR
TREASURER OF EACH ASSESSING UNIT WHICH COMPRISES THE COUNTY, CITY,  TOWN
OR SCHOOL DISTRICT OR, IN THE CASE OF A VILLAGE, THE VILLAGE ASSESSOR OR
TREASURER,  OR  THE APPLICABLE TOWN OR COUNTY ASSESSOR OR TREASURER OF A
VILLAGE WHICH HAS ADOPTED A LOCAL LAW PROVIDED IN SUBDIVISION  THREE  OF
SECTION FOURTEEN HUNDRED TWO OF THIS CHAPTER.
  8.  A  COUNTY,  CITY,  TOWN OR VILLAGE MAY, BY LOCAL LAW, AND A SCHOOL
DISTRICT, EXCEPT A CITY SCHOOL DISTRICT TO WHICH  ARTICLE  FIFTY-TWO  OF
THE  EDUCATION  LAW APPLIES MAY, BY RESOLUTION, ESTABLISH A DATE FOR THE
COMMENCEMENT OF EFFECTIVENESS OF EXEMPTIONS  OFFERED  PURSUANT  TO  THIS
SECTION  AND MAY PROVIDE THAT THE PROVISIONS OF THIS SECTION SHALL APPLY

S. 6689--A                          4

ONLY TO CONSTRUCTION, ALTERATION, INSTALLATION OR IMPROVEMENTS HAVING  A
GREATER VALUE THAN THAT SPECIFIED BY SUBDIVISION TWO OF THIS SECTION.
  9.  (A)  A  COUNTY, CITY OUTSIDE THE CITY OF NEW YORK, TOWN OR VILLAGE
MAY, BY LOCAL LAW, AND A SCHOOL DISTRICT WHICH LEVIES SCHOOL TAXES  MAY,
BY  RESOLUTION,  ESTABLISH  A  BOARD  TO  BE KNOWN AS THE INDUSTRIAL AND
COMMERCIAL INCENTIVE BOARD. THE MEMBERSHIP AND COMPOSITION OF SUCH BOARD
SHALL BE SET FORTH IN THE LOCAL LAW OR RESOLUTION.
  (B) THE INDUSTRIAL AND COMMERCIAL INCENTIVE BOARD SHALL PRESENT A PLAN
TO THE APPOINTING LOCAL LEGISLATIVE BODY CONCERNING THE VARIOUS TYPES OF
BUSINESS, MULTI-FAMILY OR MIXED USE RESIDENTIAL CONSTRUCTION REAL  PROP-
ERTY  WHICH  SHOULD  BE GRANTED ELIGIBILITY FOR AN EXEMPTION PURSUANT TO
SUBDIVISION ONE OF THIS SECTION. SUCH PLAN  SHALL  MAKE  RECOMMENDATIONS
CONCERNING  THE  APPLICABILITY  OF THE EXEMPTION TO SPECIFIC SECTORS AND
SUBSECTORS, AS DEFINED IN THE  NORTH  AMERICAN  INDUSTRY  CLASSIFICATION
SYSTEM  PUBLISHED  BY THE UNITED STATES GOVERNMENT. SUCH PLAN SHALL ALSO
MAKE A RECOMMENDATION  AS  TO  WHETHER  THE  EXEMPTION  BE  COMPUTED  AS
PROVIDED IN SUBDIVISION TWO OR TWELVE OF THIS SECTION. IN ADDITION, SUCH
PLAN   SHALL  IDENTIFY  SPECIFIC  GEOGRAPHIC  AREAS  WITHIN  WHICH  SUCH
EXEMPTIONS SHOULD BE OFFERED. IN DEVELOPING THE PLAN  REQUIRED  BY  THIS
PARAGRAPH,  THE  BOARD  SHALL  CONSIDER  THE PLANNING OBJECTIVES OF EACH
MUNICIPALITY WITHIN WHICH SUCH EXEMPTIONS MAY BE OFFERED, THE  NECESSITY
OF THE EXEMPTION TO THE ATTRACTION OR RETENTION OF SUCH BUSINESS AND THE
ECONOMIC BENEFIT TO THE AREA OF PROVIDING EXEMPTIONS TO VARIOUS TYPES OF
BUSINESSES.
  (C)  IN ADDITION, THE BOARD MAY MAKE RECOMMENDATIONS TO THE APPOINTING
LOCAL LEGISLATIVE BODY WITH RESPECT TO ACTIONS  IT  DEEMS  DESIRABLE  TO
IMPROVE THE ECONOMIC CLIMATE THEREIN.
  (D)  NOTWITHSTANDING  THE PROVISIONS OF PARAGRAPH (A) OF THIS SUBDIVI-
SION, WHERE A COUNTY ESTABLISHES AN INDUSTRIAL AND COMMERCIAL  INCENTIVE
BOARD,  THE  MEMBERS  OF SUCH BOARD SHALL BE APPOINTED AS FOLLOWS: THREE
REPRESENTATIVES OF THE COUNTY: THE APPOINTMENT OF ONE SHALL BE  RESERVED
TO  THE COUNTY EXECUTIVE OF THE COUNTY WHO SHALL SERVE AS CHAIR, AND ONE
EACH FOR THE MAJORITY AND THE MINORITY PARTIES OF THE COUNTY LEGISLATIVE
BODY; ONE REPRESENTATIVE FOR EACH CITY LOCATED WITHIN  THE  COUNTY  UPON
THE  RECOMMENDATION  OF  THE  MAYOR;  ONE REPRESENTATIVE FOR EACH OF THE
TOWNS LOCATED WITHIN THE COUNTY UPON THE RECOMMENDATION OF THE  SUPERVI-
SOR;  ONE  REPRESENTATIVE  TO COLLECTIVELY REPRESENT ALL OF THE VILLAGES
LOCATED WITHIN THE COUNTY UPON THE RECOMMENDATION OF THE MAYORS  OF  THE
VILLAGES IN THE COUNTY; AND ONE REPRESENTATIVE TO COLLECTIVELY REPRESENT
ALL  OF  THE SCHOOL DISTRICTS LOCATED WITHIN THE COUNTY UPON RECOMMENDA-
TION OF THE COUNTY SCHOOL BOARDS ASSOCIATION. THE MEMBERS OF SUCH  BOARD
SHALL  SERVE AT THE PLEASURE OF THE GOVERNING BODY WHICH THEY REPRESENT.
THE MEMBERS SHALL SERVE WITHOUT SALARY, BUT THE COUNTY LEGISLATIVE  BODY
MAY  ENTITLE EACH SUCH MEMBER TO REIMBURSEMENT FOR HIS OR HER ACTUAL AND
NECESSARY EXPENSES INCURRED IN THE PERFORMANCE OF HIS OR HER DUTIES.
  10. WHERE A COUNTY, CITY, TOWN, VILLAGE OR SCHOOL DISTRICT HAS  ESTAB-
LISHED  AN INDUSTRIAL AND COMMERCIAL INCENTIVE BOARD, PURSUANT TO SUBDI-
VISION NINE OF THIS SECTION, SUCH COUNTY, CITY, TOWN OR VILLAGE MAY,  BY
LOCAL LAW, AND A SCHOOL DISTRICT, EXCEPT A CITY SCHOOL DISTRICT TO WHICH
ARTICLE  FIFTY-TWO  OF  THE  EDUCATION  LAW APPLIES, MAY, BY RESOLUTION,
RESTRICT REAL PROPERTY ELIGIBLE TO RECEIVE THE EXEMPTION TO REAL PROPER-
TY CONSTRUCTED, ALTERED, INSTALLED OR IMPROVED FOR THOSE PURPOSES  IDEN-
TIFIED  IN THE PLAN PRESENTED BY THE BOARD. SUCH LAW OR RESOLUTION SHALL
IDENTIFY THE SPECIFIC SECTORS AND SUBSECTORS, AS DEFINED  IN  THE  NORTH
AMERICAN  INDUSTRY  CLASSIFICATION SYSTEM PUBLISHED BY THE UNITED STATES
GOVERNMENT TO WHICH THE EXEMPTION  SHALL  BE  APPLICABLE.  SUCH  LAW  OR

S. 6689--A                          5

RESOLUTION SHALL ALSO RESTRICT THE AVAILABILITY OF SUCH EXEMPTION TO THE
SPECIFIC GEOGRAPHIC AREAS IDENTIFIED IN THE PLAN PRESENTED BY THE BOARD.
  11.  WHERE  A  COUNTY,  BY  LAW,  RESTRICTS EXEMPTIONS PURSUANT TO THE
RECOMMENDATIONS OF AN INDUSTRIAL AND COMMERCIAL INCENTIVE BOARD,  ESTAB-
LISHED  PURSUANT  TO  SUBDIVISION  NINE OF THIS SECTION, SUCH RESTRICTED
EXEMPTIONS SHALL BE APPLICABLE TO TAXES AND SPECIAL AD VALOREM LEVIES OF
EACH CITY, TOWN, VILLAGE AND SCHOOL DISTRICT  LOCATED  WITHIN  THE  AREA
WITHIN WHICH THE RESTRICTED EXEMPTIONS ARE OFFERED BY THE COUNTY, UNLESS
SUCH  CITY,  TOWN  OR  VILLAGE  SHALL,  BY LAW, OR SUCH SCHOOL DISTRICT,
SHALL, BY RESOLUTION, DETERMINE THAT SUCH  RESTRICTED  EXEMPTIONS  SHALL
NOT  BE  APPLICABLE  TO  ITS TAX AND AD VALOREM LEVIES. UPON ADOPTION OF
SUCH LAW, THE COUNTY SHALL NOTIFY EACH AFFECTED CITY, TOWN, VILLAGE  AND
SCHOOL  DISTRICT OF ITS ACTIONS AND INFORM THEM OF THEIR OPTIONS REGARD-
ING SUCH RESTRICTED EXEMPTIONS.
  12. NOTWITHSTANDING SUBDIVISION TWO OF THIS SECTION, WHERE  A  COUNTY,
CITY,  TOWN,  VILLAGE  OR  SCHOOL  DISTRICT ADOPTS RESTRICTED EXEMPTIONS
PURSUANT TO SUBDIVISION TEN OF THIS SECTION, THE LAW OR  RESOLUTION  MAY
PROVIDE THAT SUCH EXEMPTIONS SHALL BE COMPUTED PURSUANT TO THE FOLLOWING
ACCELERATED STRATEGIC EXEMPTION SCHEDULE:
YEAR OF EXEMPTION            PERCENTAGE OF EXEMPTION TO BE NO MORE THAN:
         1                                      60
         2                                      60
         3                                      60
         4                                      50
         5                                      50
         6                                      45
         7                                      40
         8                                      35
         9                                      25
         10                                     15
PROVIDED HOWEVER, THAT SUCH LAW OR RESOLUTION SHALL:
  (I)  CONTAIN  FINDINGS THAT THE ADOPTION OF THIS ACCELERATED STRATEGIC
EXEMPTION SCHEDULE IS NECESSARY TO ENCOURAGE TARGETED ECONOMIC  DEVELOP-
MENT, CREATE OR RETAIN PERMANENT PRIVATE SECTOR JOBS, AND THAT THE VALUE
OF  THE  EXEMPTIONS  TO  BE PROVIDED IS JUSTIFIED BY THE NEED TO PROVIDE
EMPLOYMENT OPPORTUNITIES AND BROADEN THE TAX BASE; AND
  (II) LIMIT THE APPLICABILITY OF SUCH SCHEDULE TO  PROJECTS  WHERE  THE
COST  OF  SUCH  CONSTRUCTION,  ALTERATION,  INSTALLATION  OR IMPROVEMENT
EXCEEDS THE SUM OF FIFTY THOUSAND DOLLARS; AND
  (III) PROVIDE THAT SUCH EXEMPTIONS ARE RESTRICTED BY GEOGRAPHIC  AREAS
AND/OR  GROUPS  AND MAJOR DIVISIONS AS IS PROVIDED BY SUBDIVISION TEN OF
THIS SECTION.
  13. A COUNTY, CITY, OR TOWN WITH A VILLAGE WITH A  POPULATION  OF  NOT
LESS  THAN FIVE THOUSAND AND NOT MORE THAN SIX THOUSAND IN COUNTIES WITH
A POPULATION OF NOT LESS THEN TWO HUNDRED NINETY THOUSAND AND  NOT  MORE
THAN THREE HUNDRED FIVE THOUSAND MAY, BY LOCAL LAW, ESTABLISH A DATE FOR
THE  COMMENCEMENT OF THE EFFECTIVENESS OF THE EXEMPTION OFFERED PURSUANT
TO THIS SECTION. A COPY OF THE  LOCAL  LAWS  SHALL  BE  FILED  WITH  THE
COMMISSIONER,  THE  ASSESSOR OR TREASURER OF THE MUNICIPALITY, THE CLERK
OF THE MUNICIPALITY, AND THE SECRETARY OF STATE.
  14. A VILLAGE WITH A POPULATION OF NOT LESS THAN FIVE THOUSAND AND NOT
MORE THAN SIX THOUSAND IN COUNTIES WITH A POPULATION OF  NOT  LESS  THAN
TWO  HUNDRED  NINETY THOUSAND AND NOT MORE THAN THREE HUNDRED FIVE THOU-
SAND MAY, BY LOCAL LAW,  AND  ANY  SCHOOL  DISTRICT  WHICH  SERVES  SUCH
VILLAGE, MAY, BY RESOLUTION ESTABLISH A DATE FOR THE COMMENCEMENT OF THE
EFFECTIVENESS  OF THE EXEMPTION OFFERED PURSUANT TO THIS SECTION. A COPY

S. 6689--A                          6

OF THE LOCAL LAWS SHALL BE FILED WITH THE COMMISSIONER, THE ASSESSOR  OR
TREASURER  OF  THE  MUNICIPALITY, THE CLERK OF THE MUNICIPALITY, AND THE
SECRETARY OF STATE.
  S 2. This act shall take effect immediately.

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