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Assembly Bill A2395

2009-2010 Legislative Session

Allows localities discretion in granting business investment exemptions

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Archive: Last Bill Status - In Assembly Committee

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2009-A2395 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง485-b, RPT L
Versions Introduced in Other Legislative Sessions:
2011-2012: A801
2013-2014: A1025
2015-2016: A461
2017-2018: A1288
2019-2020: A2380

2009-A2395 (ACTIVE) - Summary

Allows localities discretion in granting business investment exemptions on property tax by passing a resolution allowing the exemption for one or more of the following categories or classes: buying or selling of goods or services; the storing or developing of goods or services; the manufacturing or assembly of goods; or the processing of raw materials.

2009-A2395 (ACTIVE) - Bill Text download pdf 

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

                                  2395

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 15, 2009
                               ___________

Introduced  by M. of A. GANTT -- read once and referred to the Committee
  on Real Property Taxation

AN ACT to amend the real property  tax  law,  in  relation  to  allowing
  localities discretion in granting business investment exemptions

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 1 of section 485-b of  the  real  property  tax
law,  as  amended by chapter 488 of the laws of 1998, is amended to read
as follows:
  1. Real property constructed, altered, installed  or  improved  subse-
quent  to  the  first  day of July, nineteen hundred seventy-six for the
purpose of commercial, business or industrial activity shall  be  exempt
from taxation and special ad valorem levies, except for special ad valo-
rem  levies  for  fire district, fire protection district and fire alarm
district purposes, to the extent hereinafter  provided  IF  THE  COUNTY,
CITY,  TOWN  OR  VILLAGE,  BY LOCAL LAW, AND A SCHOOL DISTRICT, EXCEPT A
CITY SCHOOL DISTRICT TO WHICH ARTICLE FIFTY-TWO  OF  THE  EDUCATION  LAW
APPLIES,  BY  RESOLUTION, APPROVES SUCH EXEMPTION FOR ONE OR MORE OF THE
FOLLOWING PURPOSES: (A) THE BUYING OR SELLING OF GOODS OR  SERVICES;  OR
(B)  THE STORING OR DEVELOPING OF GOODS OR SERVICES; OR (C) THE MANUFAC-
TURE OR ASSEMBLY OF GOODS; OR (D) THE PROCESSING OF RAW MATERIALS.
  S 2. Subdivision 3 of section 485-b of the real property tax  law,  as
amended  by  chapter  440  of  the  laws  of 1993, is amended to read as
follows:
  3. [Such] UPON PASSAGE OF A LOCAL LAW OR RESOLUTION,  AS  REQUIRED  BY
SUBDIVISION  ONE  OF  THIS SECTION, SUCH exemption shall be granted only
upon application by the owner of such real property on a form prescribed
by the state board. Such application shall be filed with the assessor of
the city, town, village, or county having the power to  assess  property
for  taxation  on  or before the appropriate taxable status date of such
city, town, village or county and within  one  year  from  the  date  of
completion  of  such  construction, alteration, installation or improve-
ment.
  S 3. This act shall take effect immediately.

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