Assembly Bill A9129

2021-2022 Legislative Session

Provides an extension of time to complete construction for certain building projects due to the COVID-19 pandemic

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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

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2021-A9129 (ACTIVE) - Details

See Senate Version of this Bill:
S7343
Current Committee:
Assembly Ways And Means
Law Section:
Real Property Tax Law
Laws Affected:
Amd §489-cccccc, RPT L

2021-A9129 (ACTIVE) - Summary

Provides an additional twenty-seven months to complete construction for certain building projects due to the COVID-19 pandemic; provides for the calculation of abatement.

2021-A9129 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9129
 
                           I N  A S S E M B L Y
 
                             January 31, 2022
                                ___________
 
 Introduced  by  M.  of  A.  BRAUNSTEIN  -- read once and referred to the
   Committee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to  providing  an
   extension  of  time  to  complete  construction  for  certain building
   projects due to the COVID-19 pandemic
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision  2 of section 489-cccccc of the real property
 tax law, as added by chapter 119 of the laws of 2008, is amended to read
 as follows:
   2. Time limit for completion  of  construction.  (A)  Construction  of
 buildings  or  structures for which benefits have been approved shall be
 completed no later than five years from the  date  of  issuance  of  the
 first building permit, or if no permit was required, the commencement of
 construction.    Failure to meet this requirement shall result in termi-
 nation of any inflation protection provided under subdivision  three  of
 section  four  hundred eighty-nine-bbbbbb of this title for any tax year
 that begins following the date by which completion  of  construction  is
 required under this paragraph.
   (B) (I) NOTWITHSTANDING THE PROVISIONS OF PARAGRAPH (A) OF THIS SUBDI-
 VISION, AN ADDITIONAL TWENTY-SEVEN MONTH EXTENSION SHALL BE PROVIDED FOR
 ALL  PROJECTS  WHERE SUCH FIVE YEAR PERIOD WOULD HAVE TERMINATED BETWEEN
 MARCH SEVENTH, TWO THOUSAND TWENTY AND JUNE TWENTY-FIFTH,  TWO  THOUSAND
 TWENTY-ONE,  TO  PROVIDE  RELIEF FOR (A) THE FIFTEEN-MONTH PERIOD DURING
 WHICH A STATE DISASTER EMERGENCY WAS DECLARED BY THE  GOVERNOR  PURSUANT
 TO EXECUTIVE ORDER TWO HUNDRED TWO OF TWO THOUSAND TWENTY IN RESPONSE TO
 THE  COVID-19  PANDEMIC  AND  THE  ISSUANCE BY THE GOVERNOR OF EXECUTIVE
 ORDER TWO HUNDRED TEN OF TWO THOUSAND  TWENTY-ONE  WHICH  RESCINDED  ALL
 PREVIOUS  PANDEMIC  RELATED  EXECUTIVE  ORDERS  AND LIFTED SUCH STATE OF
 EMERGENCY, PLUS (B) AN ADDITIONAL TWELVE MONTHS FOR PROJECTS TO COMPLETE
 CONSTRUCTION AFTER THE EXPIRATION OF SUCH EXECUTIVE ORDERS.
   (II) FOR SUCH PROJECTS, THE AMOUNT OF ABATEMENT SHALL BE CALCULATED AS
 PROVIDED HEREIN. THE FIRST YEAR OF THE ABATEMENT SHALL BE THE  TAX  YEAR
 WITH  THE  FIRST  TAXABLE STATUS DATE THAT FOLLOWS THE SOONER OF (A) THE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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