senate Bill S716

Authorizes the reduction of assessed value of land subject to a conservation easement conveyed to not-for-profit conservation organization

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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

  • 09 / Jan / 2013
    • REFERRED TO LOCAL GOVERNMENT
  • 08 / Jan / 2014
    • REFERRED TO LOCAL GOVERNMENT

Summary

Authorizes the reduction of assessed value of land subject to a conservation easement conveyed to not-for-profit conservation organization.

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Bill Details

See Assembly Version of this Bill:
A5717
Versions:
S716
Legislative Cycle:
2013-2014
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add §533-a, RPT L
Versions Introduced in Previous Legislative Cycles:
2011-2012: S3310, S3310
2009-2010: S859, S859

Sponsor Memo

BILL NUMBER:S716

TITLE OF BILL:
An act
to amend the real property tax law, in relation to establishing a
reduction in the assessed value of lands burdened by certain
conservation easements

PURPOSE:
This bill requires that when a property owner grants a
conservation easement to a not-for-profit corporation that the
grantor's property be assessed to reflect the grant.

SUMMARY OF SPECIFIC PROVISIONS:
Adds new section RPTL § 533-A.
Requires a reassessment of the value of property after the owner of
the property grants a conservation easement to a not-for-profit
corporation.

JUSTIFICATION:
The granting of a conservation easement to a
not-for-profit corporation can have a significant impact on the
assessed value of the property to which the easement applies. This
bill would assure that an assessment reflecting that change in value
be required after such an easement is granted.

PRIOR LEGISLATIVE HISTORY:
S.5325 of 2007-08
S.6468 of 2006
S.859 of 2009-2010; Referred to Environmental Conservation
S.3310 of 2011-12; Referred to Local Government

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
Thirty days after it shall have become law.

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

                                   716

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sens.  GRISANTI,  MARCELLINO  --  read twice and ordered
  printed, and when printed to be committed to the  Committee  on  Local
  Government

AN ACT to amend the real property tax law, in relation to establishing a
  reduction in the assessed value of lands burdened by certain conserva-
  tion easements

  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 533-a to read as follows:
  S  533-A.  ASSESSMENT  OF  CONSERVATION  EASEMENTS CONVEYED TO CERTAIN
ORGANIZATIONS. NOTWITHSTANDING THE PROVISIONS OF  SECTION  FIVE  HUNDRED
THIRTY-THREE  OF  THIS TITLE, UPON CONVEYANCE OF A CONSERVATION EASEMENT
TO A NOT-FOR-PROFIT CONSERVATION ORGANIZATION, THE ASSESSED VALUE OF THE
INTEREST IN EACH SUBJECT PARCEL RETAINED BY THE GRANTOR OF SUCH EASEMENT
SHALL BE MODIFIED TO EFFECT THE CHANGE, IF ANY,  IN  THE  VALUE  OF  THE
LANDS SUBJECT TO SUCH CONSERVATION EASEMENT.
  S  2.  This  act shall take effect on the thirtieth day after it shall
have become a law and shall apply  to  the  conveyance  of  conservation
easements on or after such date.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04609-01-3

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