Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Aug 02, 2021 |
signed chap.361 |
Jul 21, 2021 |
delivered to governor |
Jun 10, 2021 |
returned to senate passed assembly ordered to third reading rules cal.761 substituted for a6073a referred to ways and means delivered to assembly passed senate ordered to third reading cal.1781 committee discharged and committed to rules |
Jun 06, 2021 |
print number 5882a |
Jun 06, 2021 |
amend (t) and recommit to cities 1 |
Mar 22, 2021 |
referred to cities 1 |
Senate Bill S5882A
Signed By Governor2021-2022 Legislative Session
Sponsored By
(D) 19th Senate District
Archive: Last Bill Status - 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
2021-S5882 - Details
- See Assembly Version of this Bill:
- A6073
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd §489-cccccc, RPT L; amd §11-270, NYC Ad Cd
2021-S5882 - Sponsor Memo
BILL NUMBER: S5882 SPONSOR: PERSAUD TITLE OF BILL: An act to amend the real property tax law, in relation to providing that a certain time limit for purposes of qualifying for a tax abatement shall not apply to certain brand-new from the ground up construction sited on property purchased from the city of New York PURPOSE: To ensure that certain brand-new from the ground up construction, sited on certain property purchased from the City of New York which would qualify as an Industrial & Commercial Abatement Program (ICAP) eligible economic development project and for which the planned construction was pursued based on an expectation that the ICAP benefit would help defray future economic liabilities such as higher property taxes assessed resulting from the new construction, shall not be denied eligibility or denied approval based solely on the date of receipt of the final appli- cation when all other qualifying conditions have been met.
2021-S5882 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5882 2021-2022 Regular Sessions I N S E N A T E March 22, 2021 ___________ Introduced by Sen. PERSAUD -- read twice and ordered printed, and when printed to be committed to the Committee on Cities 1 AN ACT to amend the real property tax law, in relation to providing that a certain time limit for purposes of qualifying for a tax abatement shall not apply to certain brand-new from the ground up construction sited on property purchased from the city of New York THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (a) of subdivision 5 of section 489-cccccc of the real property tax law is amended by adding a new subparagraph (iii) to read as follows: (III) NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, THE TIME LIMIT TO FILE A FINAL APPLICATION FOR BENEFITS AS SPECIFIED IN SUBPARA- GRAPH (II) OF THIS PARAGRAPH SHALL NOT APPLY TO BRAND-NEW CONSTRUCTION FROM THE GROUND UP LOCATED ON PROPERTY PURCHASED FROM THE CITY OF NEW YORK WHERE SUCH PROPERTY WHICH IS THE SITE OF THE NEW CONSTRUCTION WAS PURCHASED FROM THE CITY OF NEW YORK FOR THE PURPOSES OF AN ELIGIBLE DEVELOPMENT PURSUANT TO THIS ARTICLE AND WHERE THE SALES AGREEMENT WITH THE CITY OF NEW YORK FOR SUCH PROPERTY INCLUDES A RESTRICTION PREVENTING THE SALE OR TRANSFER OF SUCH PROPERTY FOR A PERIOD OF FIVE YEARS OR MORE AND WHERE THE FIRST VALUATION AND ASSESSMENT FOR THE PURPOSES OF PROPER- TY TAXES OCCURRED WITHIN THAT PERIOD OF RESTRICTION FROM SALE, PROVIDED THE PROJECT MEETS THE OTHER REQUIREMENTS OF THIS TITLE. § 2. This act shall take effect immediately and shall apply to projects for which a final application for benefits was filed on and after January 1, 2018. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08932-09-1
2021-S5882A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A6073
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd §489-cccccc, RPT L; amd §11-270, NYC Ad Cd
2021-S5882A (ACTIVE) - Sponsor Memo
BILL NUMBER: S5882A SPONSOR: PERSAUD TITLE OF BILL: An act to amend the real property tax law and the administrative code of the city of New York, in relation to providing that a certain time limit for purposes of qualifying for a tax abatement shall not apply to certain brand-new from the ground up construction sited on property purchased from the city of New York PURPOSE: To ensure that certain brand-new from the ground up construction, sited on certain property purchased from the City of New York which would qualify as an Industrial & Commercial Abatement Program (ICAP) eligible economic development project and for which the planned construction was pursued based on an expectation that the ICAP benefit would help defray future economic liabilities such as higher property taxes assessed resulting from the new construction, shall not be denied eligibility or denied approval based solely on the date of receipt of the final appli- cation when all other qualifying conditions have been met.
2021-S5882A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5882--A 2021-2022 Regular Sessions I N S E N A T E March 22, 2021 ___________ Introduced by Sen. PERSAUD -- read twice and ordered printed, and when printed to be committed to the Committee on Cities 1 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the real property tax law and the administrative code of the city of New York, in relation to providing that a certain time limit for purposes of qualifying for a tax abatement shall not apply to certain brand-new from the ground up construction sited on property purchased from the city of New York THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (a) of subdivision 5 of section 489-cccccc of the real property tax law is amended by adding a new subparagraph (iii) to read as follows: (III) NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, THE TIME LIMIT TO FILE A FINAL APPLICATION FOR BENEFITS AS SPECIFIED IN SUBPARA- GRAPH (II) OF THIS PARAGRAPH SHALL NOT APPLY TO BRAND-NEW CONSTRUCTION FROM THE GROUND UP LOCATED ON PROPERTY PURCHASED FROM THE CITY OF NEW YORK WHERE SUCH PROPERTY WHICH IS THE SITE OF THE NEW CONSTRUCTION WAS PURCHASED FROM THE CITY OF NEW YORK FOR THE PURPOSES OF AN ELIGIBLE DEVELOPMENT PURSUANT TO THIS ARTICLE AND WHERE THE SALES AGREEMENT WITH THE CITY OF NEW YORK FOR SUCH PROPERTY INCLUDES A RESTRICTION PREVENTING THE SALE OR TRANSFER OF SUCH PROPERTY FOR A PERIOD OF FIVE YEARS OR MORE AND WHERE THE FIRST VALUATION AND ASSESSMENT FOR THE PURPOSES OF PROPER- TY TAXES OCCURRED WITHIN THAT PERIOD OF RESTRICTION FROM SALE, PROVIDED THE PROJECT MEETS THE OTHER REQUIREMENTS OF THIS TITLE. § 2. Paragraph (1) of subdivision e of section 11-270 of the adminis- trative code of the city of New York is amended by adding a new subpara- graph (c) to read as follows: (C) NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, THE TIME LIMIT TO FILE A FINAL APPLICATION FOR BENEFITS AS SPECIFIED IN SUBPARA- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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