Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to veterans, homeland security and military affairs returned to senate died in assembly |
Jun 11, 2015 |
referred to veterans' affairs delivered to assembly passed senate |
Mar 02, 2015 |
advanced to third reading |
Feb 26, 2015 |
2nd report cal. |
Feb 25, 2015 |
1st report cal.118 |
Jan 23, 2015 |
referred to veterans, homeland security and military affairs |
Senate Bill S2450
2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Veterans, Homeland Security And Military Affairs Committee
- 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
2015-S2450 (ACTIVE) - Details
- Current Committee:
- Senate Veterans, Homeland Security And Military Affairs
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd ยงยง458 & 458-a, RPT L
- Versions Introduced in 2013-2014 Legislative Session:
-
S6348
2015-S2450 (ACTIVE) - Sponsor Memo
BILL NUMBER:S2450 TITLE OF BILL: An act to amend the real property tax law, in relation to veteran occupied primary residences owned by a limited liability company PURPOSE: To allow an otherwise qualified veteran to receive the eligible funds exemption or the alternative veterans property tax exemption on his or her primary residence if the residence is owned by a limited liability company (LLC) which is owned by the veteran. SUMMARY OF PROVISIONS: Section 1 amends subdivision 7-a of Section 458 of the Real Property Tax Law, which provides for the eligible funds exemption, to allow its application to property owned by a LLC if the LLC is owned by the person to whom the exemption would be granted had the person owned the property. Section 2 amends paragraph (c) of subdivision 1 of section 458-a of the Real Property Tax Law, which provides for the alternative funds exemption, to include LLC's in the definition of qualified owners able to receive the exemption.
2015-S2450 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2450 2015-2016 Regular Sessions I N S E N A T E January 23, 2015 ___________ Introduced by Sen. FARLEY -- read twice and ordered printed, and when printed to be committed to the Committee on Veterans, Homeland Securi- ty and Military Affairs AN ACT to amend the real property tax law, in relation to veteran occu- pied primary residences owned by a limited liability company THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 458 of the real property tax law is amended by adding a new subdivision 7-a to read as follows: 7-A. NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY, THE PROVISIONS OF THIS SECTION SHALL APPLY TO ANY REAL PROPERTY OWNED BY A LIMITED LIABILITY COMPANY, AS DEFINED BY SUBDIVISION (M) OF SECTION ONE HUNDRED TWO OF THE LIMITED LIABILITY COMPANY LAW, IF SUCH LIMITED LIABILITY COMPANY IS OWNED BY SUCH PERSON OR PERSONS TO WHOM THE EXEMPTION WOULD BE GRANTED HAD SUCH PERSON OR PERSONS OWNED THE REAL PROPERTY IN QUESTION RATHER THAN THE LIMITED LIABILITY COMPANY. S 2. Paragraph (c) of subdivision 1 of section 458-a of the real prop- erty tax law, as amended by chapter 100 of the laws of 1988, is amended to read as follows: (c) "Qualified owner" means a veteran, the spouse of a veteran [or], the unremarried surviving spouse of a veteran, OR A LIMITED LIABILITY COMPANY, AS DEFINED BY SUBDIVISION (M) OF SECTION ONE HUNDRED TWO OF THE LIMITED LIABILITY COMPANY LAW, IF SUCH LIMITED LIABILITY COMPANY IS OWNED BY SUCH PERSON OR PERSONS TO WHOM THE EXEMPTION WOULD BE GRANTED HAD SUCH PERSON OR PERSONS OWNED THE REAL PROPERTY IN QUESTION RATHER THAN THE LIMITED LIABILITY COMPANY. Where property is owned by more than one qualified owner, the exemption to which each is entitled may be combined. Where a veteran is also the unremarried surviving spouse of a veteran, such person may also receive any exemption to which the deceased spouse was entitled. S 3. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03611-02-5
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