Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Oct 21, 2014 |
approval memo.6 signed chap.405 |
Oct 09, 2014 |
delivered to governor |
Jun 11, 2014 |
returned to assembly passed senate 3rd reading cal.885 substituted for s5991a |
Jun 11, 2014 |
substituted by a8324a |
May 28, 2014 |
advanced to third reading |
May 21, 2014 |
2nd report cal. |
May 20, 2014 |
1st report cal.885 |
Apr 24, 2014 |
print number 5991a |
Apr 24, 2014 |
amend and recommit to local government |
Jan 08, 2014 |
referred to local government |
Nov 22, 2013 |
referred to rules |
Senate Bill S5991A
Signed By Governor2013-2014 Legislative Session
Sponsored By
(R, C, IP, RFM) Senate District
Archive: Last Bill Status Via A8324 - Signed by Governor
- 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
Actions
Votes
Bill Amendments
2013-S5991 - Details
- See Assembly Version of this Bill:
- A8324
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Add §485-q, RPT L
2013-S5991 - Sponsor Memo
BILL NUMBER:S5991 TITLE OF BILL: An act to amend the real property tax law, in relation to a residential investment exemption in certain cities PURPOSE: The measure is intended to authorize the Oneonta City Common Council, at local option, to grant tax exemptions to those investing in the city's housing stock. SUMMARY OF PROVISIONS: The bill adds a new section of law, § 485-q, to the real property tax law to authorize the city of Oneonta and similarly sized cities to grant real property tax exemptions for the construction of residential real property. EXISTING LAW: Current law includes no provision allowing the participation of cities with more than ten thousand but fewer than twenty thousand residents to participate in the residential tax benefits offered under various sections of real property tax law § 485. JUSTIFICATION:
2013-S5991 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5991 2013-2014 Regular Sessions I N S E N A T E November 22, 2013 ___________ Introduced by Sen. SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the real property tax law, in relation to a residential investment exemption in certain cities 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. RESIDENTIAL INVESTMENT EXEMPTION; CERTAIN CITIES. 1. RESI- DENTIAL REAL PROPERTY CONSTRUCTED ON OR AFTER THE FIRST DAY OF JULY, TWO THOUSAND FOURTEEN IN CITIES WITH A POPULATION OF NOT LESS THAN TEN THOU- SAND AND NOT MORE THAN TWENTY THOUSAND MAY BE EXEMPT FROM CITY TAXATION AND SPECIAL AD VALOREM LEVIES AS PROVIDED IN THIS SECTION. 2. (A) (I) SUCH REAL PROPERTY SHALL BE EXEMPT FOR A PERIOD OF ONE YEAR TO THE EXTENT OF FIFTY PER CENTUM OF THE INCREASE IN ASSESSED VALUE THEREOF ATTRIBUTABLE TO SUCH CONSTRUCTION AND FOR AN ADDITIONAL PERIOD OF NINE YEARS PROVIDED, HOWEVER, THAT THE EXTENT OF SUCH EXEMPTION SHALL BE DECREASED BY 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 FOLLOW- ING THE FILING OF AN ORIGINAL APPLICATION, EXCEPT AS PROVIDED IN SUBPAR- AGRAPH (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 COMMISSIONER, THE EXEMPTION BASE SHALL BE MULTIPLIED BY A 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- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11994-02-3
2013-S5991A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8324
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Add §485-q, RPT L
2013-S5991A (ACTIVE) - Sponsor Memo
BILL NUMBER:S5991A TITLE OF BILL: An act to amend the real property tax law, in relation to a residential investment exemption in certain cities PURPOSE: The measure is intended to authorize the Oneonta City Common Council, at local option, to provide tax exemptions to those investing in the city's housing stock. SUMMARY OF PROVISIONS: The bill adds a new section of law, § 485-q, to the Real Property Tax Law to authorize cities with more than 13,500 inhabitants but less than 14,000 inhabitants to grant real property tax exemptions for the construction of residential real property. EXISTING LAW: Current law includes no provision allowing cities with more than 13,500 inhabitants but less than 14,000 inhabitants to offer this type of exemption. JUSTIFICATION:
2013-S5991A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5991--A 2013-2014 Regular Sessions I N S E N A T E November 22, 2013 ___________ Introduced by Sen. SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Rules -- recommitted to the Committee on Local Government in accordance with Senate Rule 6, sec. 8 -- 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 residential investment exemption in certain cities 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. RESIDENTIAL INVESTMENT EXEMPTION; CERTAIN CITIES. 1. RESI- DENTIAL REAL PROPERTY CONSTRUCTED ON OR AFTER THE FIRST DAY OF JULY, TWO THOUSAND FOURTEEN IN CITIES WITH A POPULATION OF NOT LESS THAN THIRTEEN THOUSAND FIVE HUNDRED AND NOT MORE THAN FOURTEEN THOUSAND MAY BE EXEMPT FROM CITY TAXATION AND SPECIAL AD VALOREM LEVIES AS PROVIDED IN THIS SECTION. 2. (A) (I) SUCH REAL PROPERTY SHALL BE EXEMPT FOR A PERIOD OF ONE YEAR TO THE EXTENT OF FIFTY PER CENTUM OF THE INCREASE IN ASSESSED VALUE THEREOF ATTRIBUTABLE TO SUCH CONSTRUCTION AND FOR AN ADDITIONAL PERIOD OF NINE YEARS PROVIDED, HOWEVER, THAT THE EXTENT OF SUCH EXEMPTION SHALL BE DECREASED BY 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 FOLLOW- ING THE FILING OF AN ORIGINAL APPLICATION, EXCEPT AS PROVIDED IN SUBPAR- AGRAPH (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 COMMISSIONER, THE EXEMPTION BASE SHALL BE MULTIPLIED BY A FRACTION, THE NUMERATOR OF WHICH SHALL BE THE TOTAL ASSESSED VALUE OF EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11994-04-4
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