Assembly Bill A4554

Signed By Governor

2009-2010 Legislative Session

Authorizes the city of Schenectady to enter into a contract to sell some or all of the delinquent tax liens held by such city to a private party

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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

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Actions

View Actions

Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jul 11, 2009	signed chap.100
Jul 09, 2009	delivered to governor returned to assembly passed senate home rule request 3rd reading cal.215 substituted for s1261b
Jun 18, 2009	referred to rules
Jun 17, 2009	delivered to senate passed assembly home rule request ordered to third reading rules cal.422 rules report cal.422 reported reported referred to rules
Jun 10, 2009	reported referred to ways and means
May 11, 2009	print number 4554c
May 11, 2009	amend and recommit to cities
Mar 10, 2009	print number 4554b
Mar 10, 2009	amend and recommit to cities
Feb 13, 2009	print number 4554a
Feb 13, 2009	amend and recommit to cities
Feb 05, 2009	referred to cities

Votes

- Jul 9, 2009 - Floor Vote
  A4554
  
  Aye
  
  62
  
  Nay
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  
  0
  - - Floor Vote: Jul 9, 2009
      
      aye (62)
      
      Adams
      
      Addabbo Jr.
      
      Alesi
      
      Aubertine
      
      Bonacic
      
      Breslin
      
      DeFrancisco
      
      Diaz
      
      Dilan
      
      Duane
      
      Espada
      
      Farley
      
      Flanagan
      
      Foley
      
      Fuschillo
      
      Golden
      
      Griffo
      
      Hannon
      
      Hassell-Thompson
      
      Huntley
      
      Johnson
      
      Johnson
      
      Klein
      
      Krueger
      
      Kruger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Leibell
      
      Libous
      
      Little
      
      Marcellino
      
      Maziarz
      
      McDonald
      
      Monserrate
      
      Montgomery
      
      Morahan
      
      Nozzolio
      
      Onorato
      
      Oppenheimer
      
      Padavan
      
      Parker
      
      Perkins
      
      Ranzenhofer
      
      Robach
      
      Saland
      
      Sampson
      
      Savino
      
      Schneiderman
      
      Serrano
      
      Seward
      
      Skelos
      
      Smith
      
      Squadron
      
      Stachowski
      
      Stavisky
      
      Stewart-Cousins
      
      Thompson
      
      Valesky
      
      Volker
      
      Winner
      
      Young

Bill Amendments

Original

C (Active)

2009-A4554 - Details

2009-A4554 - Summary

Authorizes the city of Schenectady to enter into a contract to sell some or all of the delinquent tax liens held by such city to a private party under certain conditions; requires 30 days notice to owners; provides for repeal as of December 31, 2011.

2009-A4554 - Bill Text download pdf

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

                                  4554

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 5, 2009
                               ___________

Introduced  by M. of A. AMEDORE -- read once and referred to the Commit-
  tee on Cities

AN ACT to amend chapter 177 of the laws of 2004 authorizing the city  of
  Schenectady to enter into a contract to sell some or all of the delin-
  quent  tax  liens held by such city to a private party, in relation to
  renewing such authorization; and providing  for  the  repeal  of  such
  provisions

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

  Section 1.  Section 2 of chapter 177 of the laws of 2004,  authorizing
the  city of Schenectady to enter into a contract to sell some or all of
the delinquent tax liens held by such city to a private party, is renum-
bered section 3 and a new section 2 is added to read as follows:
  S 2. NOTWITHSTANDING ANY PROVISION OF ANY GENERAL,  SPECIAL  OR  LOCAL
LAW TO THE CONTRARY, ON AND AFTER THE EFFECTIVE DATE OF THIS SECTION THE
CITY  OF SCHENECTADY MAY ENTER INTO CONTRACTS TO SELL SOME OR ALL OF THE
DELINQUENT TAX LIENS HELD BY IT TO A PRIVATE PARTY, OR  RENEW  CONTRACTS
ENTERED INTO PURSUANT TO SECTION ONE OF THIS ACT, SUBJECT TO THE FOLLOW-
ING CONDITIONS:
  (A)  THE  CONSIDERATION  TO  BE PAID MAY BE MORE OR LESS THAN THE FACE
AMOUNT OF THE TAX LIENS SOLD.
  (B) PROPERTY OWNERS SHALL BE GIVEN AT LEAST 30 DAYS ADVANCE NOTICE  OF
SUCH SALE IN THE SAME FORM AND MANNER AS IS PROVIDED BY SUBDIVISION 2 OF
SECTION  1190  OF  THE  REAL  PROPERTY  TAX LAW. FAILURE TO PROVIDE SUCH
NOTICE OR THE FAILURE OF THE ADDRESSEE TO RECEIVE THE SAME SHALL NOT  IN
ANY  WAY  AFFECT  THE VALIDITY OF ANY SALE OF A TAX LIEN OR TAX LIENS OR
THE VALIDITY OF THE TAXES OR INTEREST PRESCRIBED  BY  LAW  WITH  RESPECT
THERETO.
  (C)  THE CITY OF SCHENECTADY SHALL SET THE TERMS AND CONDITIONS OF THE
CONTRACT OF SALE AND ALL PRIOR CONTRACTS OF SALE SHALL BE  DEEMED  VALID
AND SHALL BE ENFORCED UNDER THE SECTIONS OF LAW CONTAINED HEREIN.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04244-02-9

A. 4554                             2

  (D)  THE TAX LIEN PURCHASER MUST, 30 DAYS PRIOR TO THE COMMENCEMENT OF
ANY FORECLOSURE ACTION, PROVIDE THE CITY OF SCHENECTADY A LIST OF  LIENS
TO  BE  FORECLOSED.  THE CITY OF SCHENECTADY MAY, AT ITS SOLE OPTION AND
DISCRETION, REPURCHASE A LIEN OR LIENS ON THE FORECLOSURE LIST FROM  THE
TAX LIEN PURCHASER. THE REPURCHASE PRICE SHALL BE THE AMOUNT OF THE LIEN
OR  LIENS  PLUS ANY ACCRUED INTEREST AND COLLECTION FEES INCURRED BY THE
TAX LIEN PURCHASER, OR SUCH OTHER OR DIFFERENT SUM AS THE CITY  AND  THE
TAX  LIEN  PURCHASER SHALL AGREE.   THE TAX LIEN PURCHASER SHALL PROVIDE
THE FORECLOSURE LIST TO THE CITY OF SCHENECTADY, ALONG WITH THE APPLICA-
BLE REPURCHASE PRICE OF EACH LIEN, BY CERTIFIED MAIL, AND  THE  CITY  OF
SCHENECTADY  SHALL  HAVE  30  DAYS  FROM RECEIPT, TO NOTIFY THE TAX LIEN
PURCHASER OF ITS OPTION TO PURCHASE ONE OR MORE OF  THE  LIENS.  IF  THE
CITY  OF SCHENECTADY OPTS TO PURCHASE THE LIEN, IT SHALL PROVIDE PAYMENT
WITHIN 30 DAYS OF RECEIPT OF THE REPURCHASE PRICE OF SAID LIEN OR  LIENS
OR  WITHIN  SUCH OTHER TIME AS THE CITY AND THE TAX LIEN PURCHASER SHALL
AGREE. IF THE CITY OF SCHENECTADY SHALL FAIL TO OPT  TO  REPURCHASE  THE
LIEN  OR LIENS THE TAX LIEN PURCHASER SHALL HAVE THE RIGHT TO COMMENCE A
FORECLOSURE ACTION IMMEDIATELY.
  (E) THE SALE OF A TAX LIEN PURSUANT TO THIS ACT SHALL NOT  OPERATE  TO
SHORTEN  THE OTHERWISE APPLICABLE REDEMPTION PERIOD OR CHANGE THE OTHER-
WISE APPLICABLE INTEREST RATE.
  (F) UPON THE EXPIRATION OF THE REDEMPTION PERIOD  PRESCRIBED  BY  LAW,
THE  PURCHASER  OF  A DELINQUENT TAX LIEN, OR ITS SUCCESSORS OR ASSIGNS,
MAY FORECLOSE THE LIEN AS IN  AN  ACTION  TO  FORECLOSE  A  MORTGAGE  AS
PROVIDED  IN SECTION 1194 OF THE REAL PROPERTY TAX LAW. THE PROCEDURE IN
SUCH ACTION SHALL BE THE PROCEDURE PRESCRIBED BY ARTICLE 13 OF THE  REAL
PROPERTY  ACTIONS  AND PROCEEDINGS LAW FOR THE FORECLOSURE OF MORTGAGES.
AT ANY TIME FOLLOWING THE COMMENCEMENT OF AN ACTION TO FORECLOSE A LIEN,
THE AMOUNT REQUIRED TO REDEEM THE LIEN, OR THE AMOUNT RECEIVED UPON SALE
OF A PROPERTY, SHALL INCLUDE ATTORNEY'S FEES, COURT COSTS,  TITLE  FEES,
SERVICE  OF  PROCESS FEES, AND OTHER DISBURSEMENTS ALLOWED BY A COURT OF
COMPETENT JURISDICTION UPON THE FILING WITH SAID COURT OF PROOF OF  PAID
EXPENSES.
  (G)  THE  PROVISIONS OF TITLE 5 OF ARTICLE 11 OF THE REAL PROPERTY TAX
LAW SHALL APPLY SO FAR AS IS PRACTICABLE TO A CONTRACT FOR THE  SALE  OF
TAX LIENS PURSUANT TO THIS ACT.
  S  2.  This act shall take effect immediately; and shall expire and be
deemed repealed on and after December 31, 2012.

2009-A4554A - Details

2009-A4554A - Summary

2009-A4554A - Bill Text download pdf

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

                                 4554--A

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 5, 2009
                               ___________

Introduced  by M. of A. AMEDORE -- read once and referred to the Commit-
  tee on Cities -- committee discharged, bill amended, ordered reprinted
  as amended and recommitted to said committee

AN ACT to amend chapter 177 of the laws of 2004 authorizing the city  of
  Schenectady to enter into a contract to sell some or all of the delin-
  quent  tax  liens held by such city to a private party, in relation to
  renewing such authorization; and providing  for  the  repeal  of  such
  provisions

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

  Section 1.  Section 2 of chapter 177 of the laws of 2004,  authorizing
the  city of Schenectady to enter into a contract to sell some or all of
the delinquent tax liens held by such city to a private party, is renum-
bered section 3 and a new section 2 is added to read as follows:
  S 2. NOTWITHSTANDING ANY PROVISION OF ANY GENERAL,  SPECIAL  OR  LOCAL
LAW TO THE CONTRARY AND UNTIL DECEMBER 31, 2009, ON AND AFTER THE EFFEC-
TIVE  DATE  OF  THIS  SECTION  THE  CITY  OF  SCHENECTADY MAY ENTER INTO
CONTRACTS TO SELL SOME OR ALL OF THE DELINQUENT TAX LIENS HELD BY IT  TO
A PRIVATE PARTY, OR RENEW CONTRACTS ENTERED INTO PURSUANT TO SECTION ONE
OF THIS ACT, SUBJECT TO THE FOLLOWING CONDITIONS:
  (A)  THE  CONSIDERATION  TO  BE PAID MAY BE MORE OR LESS THAN THE FACE
AMOUNT OF THE TAX LIENS SOLD.
  (B) PROPERTY OWNERS SHALL BE GIVEN AT LEAST 30 DAYS ADVANCE NOTICE  OF
SUCH SALE IN THE SAME FORM AND MANNER AS IS PROVIDED BY SUBDIVISION 2 OF
SECTION  1190  OF  THE  REAL  PROPERTY  TAX LAW. FAILURE TO PROVIDE SUCH
NOTICE OR THE FAILURE OF THE ADDRESSEE TO RECEIVE THE SAME SHALL NOT  IN
ANY  WAY  AFFECT  THE VALIDITY OF ANY SALE OF A TAX LIEN OR TAX LIENS OR
THE VALIDITY OF THE TAXES OR INTEREST PRESCRIBED  BY  LAW  WITH  RESPECT
THERETO.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04244-03-9

A. 4554--A                          2

  (C)  THE CITY OF SCHENECTADY SHALL SET THE TERMS AND CONDITIONS OF THE
CONTRACT OF SALE AND ALL PRIOR CONTRACTS OF SALE SHALL BE  DEEMED  VALID
AND SHALL BE ENFORCED UNDER THE SECTIONS OF LAW CONTAINED HEREIN.
  (D)  THE TAX LIEN PURCHASER MUST, 30 DAYS PRIOR TO THE COMMENCEMENT OF
ANY FORECLOSURE ACTION, PROVIDE THE CITY OF SCHENECTADY A LIST OF  LIENS
TO  BE  FORECLOSED.  THE CITY OF SCHENECTADY MAY, AT ITS SOLE OPTION AND
DISCRETION, REPURCHASE A LIEN OR LIENS ON THE FORECLOSURE LIST FROM  THE
TAX LIEN PURCHASER. THE REPURCHASE PRICE SHALL BE THE AMOUNT OF THE LIEN
OR  LIENS  PLUS ANY ACCRUED INTEREST AND COLLECTION FEES INCURRED BY THE
TAX LIEN PURCHASER, OR SUCH OTHER OR DIFFERENT SUM AS THE CITY  AND  THE
TAX  LIEN  PURCHASER SHALL AGREE.   THE TAX LIEN PURCHASER SHALL PROVIDE
THE FORECLOSURE LIST TO THE CITY OF SCHENECTADY, ALONG WITH THE APPLICA-
BLE REPURCHASE PRICE OF EACH LIEN, BY CERTIFIED MAIL, AND  THE  CITY  OF
SCHENECTADY  SHALL  HAVE  30  DAYS  FROM RECEIPT, TO NOTIFY THE TAX LIEN
PURCHASER OF ITS OPTION TO PURCHASE ONE OR MORE OF  THE  LIENS.  IF  THE
CITY  OF SCHENECTADY OPTS TO PURCHASE THE LIEN, IT SHALL PROVIDE PAYMENT
WITHIN 30 DAYS OF RECEIPT OF THE REPURCHASE PRICE OF SAID LIEN OR  LIENS
OR  WITHIN  SUCH OTHER TIME AS THE CITY AND THE TAX LIEN PURCHASER SHALL
AGREE. IF THE CITY OF SCHENECTADY SHALL FAIL TO OPT  TO  REPURCHASE  THE
LIEN  OR LIENS THE TAX LIEN PURCHASER SHALL HAVE THE RIGHT TO COMMENCE A
FORECLOSURE ACTION IMMEDIATELY.
  (E) THE SALE OF A TAX LIEN PURSUANT TO THIS ACT SHALL NOT  OPERATE  TO
SHORTEN  THE OTHERWISE APPLICABLE REDEMPTION PERIOD OR CHANGE THE OTHER-
WISE APPLICABLE INTEREST RATE.
  (F) UPON THE EXPIRATION OF THE REDEMPTION PERIOD  PRESCRIBED  BY  LAW,
THE  PURCHASER  OF  A DELINQUENT TAX LIEN, OR ITS SUCCESSORS OR ASSIGNS,
MAY FORECLOSE THE LIEN AS IN  AN  ACTION  TO  FORECLOSE  A  MORTGAGE  AS
PROVIDED  IN SECTION 1194 OF THE REAL PROPERTY TAX LAW. THE PROCEDURE IN
SUCH ACTION SHALL BE THE PROCEDURE PRESCRIBED BY ARTICLE 13 OF THE  REAL
PROPERTY  ACTIONS  AND PROCEEDINGS LAW FOR THE FORECLOSURE OF MORTGAGES.
AT ANY TIME FOLLOWING THE COMMENCEMENT OF AN ACTION TO FORECLOSE A LIEN,
THE AMOUNT REQUIRED TO REDEEM THE LIEN, OR THE AMOUNT RECEIVED UPON SALE
OF A PROPERTY, SHALL INCLUDE ATTORNEY'S FEES, COURT COSTS,  TITLE  FEES,
SERVICE  OF  PROCESS FEES, AND OTHER DISBURSEMENTS ALLOWED BY A COURT OF
COMPETENT JURISDICTION UPON THE FILING WITH SAID COURT OF PROOF OF  PAID
EXPENSES.
  (G)  THE  PROVISIONS OF TITLE 5 OF ARTICLE 11 OF THE REAL PROPERTY TAX
LAW SHALL APPLY SO FAR AS IS PRACTICABLE TO A CONTRACT FOR THE  SALE  OF
TAX LIENS PURSUANT TO THIS ACT.
  S  2.  This act shall take effect immediately; and shall expire and be
deemed repealed on and after December 31, 2011.

2009-A4554B - Details

2009-A4554B - Summary

2009-A4554B - Bill Text download pdf

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

                                 4554--B

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 5, 2009
                               ___________

Introduced  by M. of A. AMEDORE -- read once and referred to the Commit-
  tee on Cities -- committee discharged, bill amended, ordered reprinted
  as amended and recommitted to said committee --  again  reported  from
  said  committee  with  amendments,  ordered  reprinted  as amended and
  recommitted to said committee

AN ACT to authorize the city of Schenectady to enter into a contract  to
  sell  some  or  all of the delinquent tax liens held by such city to a
  private party; and providing for the repeal of  such  provisions  upon
  expiration thereof

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

  Section 1. Notwithstanding any provision of any  general,  special  or
local law to the contrary and until December 31, 2009, the City of Sche-
nectady  may enter into a contract to sell some or all of the delinquent
tax liens held by it to a private party, subject to the following condi-
tions:
  (a) The consideration to be paid may be more or  less  than  the  face
amount of the tax liens sold.
  (b)  Property owners shall be given at least 30 days advance notice of
such sale in the same form and manner as is provided by subdivision 2 of
section 1190 of the real property  tax  law.  Failure  to  provide  such
notice  or the failure of the addressee to receive the same shall not in
any way affect the validity of any sale of a tax lien or  tax  liens  or
the  validity  of  the  taxes or interest prescribed by law with respect
thereto.
  (c) The City of Schenectady shall set the terms and conditions of  the
contract of sale.
  (d)  The  tax lien purchaser must 30 days prior to the commencement of
any foreclosure action provide to the City  of  Schenectady  a  list  of
liens  to be foreclosed. The City of Schenectady may, at its sole option
and discretion, repurchase a lien or liens on the foreclosure list  from

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04244-05-9

A. 4554--B                          2

the  tax lien purchaser. The repurchase price shall be the amount of the
lien or liens plus any accrued interest and collection fees incurred  by
the  tax  lien purchaser. The tax lien purchaser shall provide the fore-
closure  list  to  the  City  of  Schenectady, along with the applicable
repurchase price of each lien, by certified mail, and the City of  Sche-
nectady shall have 30 days from receipt to notify the tax lien purchaser
of  its  option  to  purchase  one or more of the liens.  If the City of
Schenectady opts to purchase the lien, it shall provide  payment  within
30  days  of  receipt of the repurchase price of said lien or liens.  If
the City of Schenectady shall fail to opt  to  repurchase  the  lien  or
liens the tax lien purchaser shall have the right to commence a foreclo-
sure action immediately.
  (e)  The  sale of a tax lien pursuant to this act shall not operate to
shorten the otherwise applicable redemption period or change the  other-
wise applicable interest rate.
  (f)  Upon  the  expiration of the redemption period prescribed by law,
the purchaser of a delinquent tax lien, or its  successors  or  assigns,
may  foreclose  the  lien  as  in  an  action to foreclose a mortgage as
provided in section 1194 of the real property tax law. The procedure  in
such  action shall be the procedure prescribed by article 13 of the real
property actions and proceedings law for the foreclosure  of  mortgages.
At any time following the commencement of an action to foreclose a lien,
the amount required to redeem the lien, or the amount received upon sale
of  a property, shall include reasonable and necessary collection costs,
attorneys' fees, legal costs, allowances, and disbursements.
  (g) The provisions of title 5 of article 11 of the real  property  tax
law  shall  apply so far as is practicable to a contract for the sale of
tax liens pursuant to this act.
  S 2. This act shall take effect immediately and shall  expire  and  be
deemed repealed on and after December 31, 2011.

2009-A4554C (ACTIVE) - Details

2009-A4554C (ACTIVE) - Summary

2009-A4554C (ACTIVE) - Sponsor Memo

                                BILL NUMBER:A4554C

TITLE  OF  BILL:    An act to authorize the city of Schenectady to enter
into a contract to sell some or all of the delinquent tax liens held  by
such  city  to  a  private  party;  and providing for the repeal of such
provisions upon expiration thereof

PURPOSE OR GENERAL IDEA OF BILL:  This bill continues the  authority  of
the City of Schenectady to sell delinquent tax liens to a private party.

SUMMARY  OF SPECIFIC PROVISIONS:  Permits the City of Schenectady, under
enumerated circumstances, to enter into a contract to sell some  or  all
of  their  delinquent tax liens to a private party. The contract must be
entered into by December 31, 2009, and this authority  shall  sunset  on
December 31, 2011. This act provides "consumer protections" for affected
property  owners,  including  a requirement for thirty days notification
and assurances that the existing redemption periods and  interest  rates
remain unchanged.

EXISTING  LAW:    Chapter 177 of the Laws of 2004 authorized the City of
Schenectady to enter into a contract by December 31, 2004 for  the  sale
of  tax  liens to a private party. In accordance with such law, the City
entered into, and has continued, such a contract. This  similar  measure
is modeled after Chapter 45 of the Laws of 2007.

JUSTIFICATION:    This  bill  was  requested  by the city of Schenectady

(resolution 2008-203). Schenectady was the  first  municipality  in  New
York  to  receive the authority to enter into a contract for the sale of
tax liens to a private party. Schenectady's tax  lien  sales  have  been
highly successful, raising significant funds for the city, and generally
improving conditions for delinquent taxpayers, who are able to negotiate
flexible repayment terms with the private purchaser.  Since the original
law,  other  cities  have sought, and have received, special legislative
authority to conduct similar sales.

This legislation will ensure  that  the  City  of  Schenectady  has  the
authority  to  enter  into a new contract for the sale of delinquent tax
liens. The bill also establishes notification  and  procedural  require-
ments  for  the  City  of Schenectady, which are consistent with similar
provisions that have been enacted over the past several years for cities
granted the authority to sell delinquent tax liens, such as Utica.

PRIOR LEGISLATIVE HISTORY:  New Bill; similar to A.1204 of 2009  (Desti-
to)

FISCAL IMPLICATIONS: None to the state.

LOCAL  FISCAL  IMPLICATIONS:    This legislation will permit the City of
Schenectady to continue to benefit from the  sale  of  tax  liens  to  a
private  party.  The  amount  of  revenue to the city will depend on the
amount of tax delinquencies.

EFFECTIVE DATE:   This act shall  take  effect  immediately,  and  shall
expire and be deemed repealed on and after December 31, 2011.

2009-A4554C (ACTIVE) - Bill Text download pdf

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

                                 4554--C

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 5, 2009
                               ___________

Introduced  by M. of A. AMEDORE -- read once and referred to the Commit-
  tee on Cities -- committee discharged, bill amended, ordered reprinted
  as amended and recommitted to said committee --  again  reported  from
  said  committee  with  amendments,  ordered  reprinted  as amended and
  recommitted to said committee -- again reported  from  said  committee
  with  amendments, ordered reprinted as amended and recommitted to said
  committee

AN ACT to authorize the city of Schenectady to enter into a contract  to
  sell  some  or  all of the delinquent tax liens held by such city to a
  private party; and providing for the repeal of  such  provisions  upon
  expiration thereof

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

  Section 1. Notwithstanding any provision of any  general,  special  or
local law to the contrary and until December 31, 2009, the City of Sche-
nectady  may enter into a contract to sell some or all of the delinquent
tax liens held by it which have been attached to  real  property  on  or
before  January  31,  2010, to a private party, subject to the following
conditions:
  (a) The consideration to be paid may be more or  less  than  the  face
amount of the tax liens sold.
  (b)  Property owners shall be given at least 30 days advance notice of
such sale in the same form and manner as is provided by subdivision 2 of
section 1190 of the real property  tax  law.  Failure  to  provide  such
notice  or the failure of the addressee to receive the same shall not in
any way affect the validity of any sale of a tax lien or  tax  liens  or
the  validity  of  the  taxes or interest prescribed by law with respect
thereto.
  (c) The City of Schenectady shall set the terms and conditions of  the
contract of sale.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04244-07-9

A. 4554--C                          2

  (d)  The  tax lien purchaser must 30 days prior to the commencement of
any foreclosure action provide to the City  of  Schenectady  a  list  of
liens  to be foreclosed. The City of Schenectady may, at its sole option
and discretion, repurchase a lien or liens on the foreclosure list  from
the  tax lien purchaser. The repurchase price shall be the amount of the
lien or liens and may include any accrued interest  and  reasonable  and
necessary  collection  fees  incurred by the tax lien purchaser. The tax
lien purchaser shall provide the foreclosure list to the City  of  Sche-
nectady,  along  with  the  applicable repurchase price of each lien, by
certified mail, and the City of Schenectady  shall  have  30  days  from
receipt  to  notify the tax lien purchaser of its option to purchase one
or more of the liens.  If the City of Schenectady opts to  purchase  the
lien,  it  shall provide payment within 30 days of receipt of the repur-
chase price of said lien or liens.   If the City  of  Schenectady  shall
fail to opt to repurchase the lien or liens the tax lien purchaser shall
have the right to commence a foreclosure action immediately.
  (e)  The  sale of a tax lien pursuant to this act shall not operate to
shorten the otherwise applicable redemption period or change the  other-
wise applicable interest rate.
  (f)  Upon  the  expiration of the redemption period prescribed by law,
the purchaser of a delinquent tax lien, or its  successors  or  assigns,
may  foreclose  the  lien  as  in  an  action to foreclose a mortgage as
provided in section 1194 of the real property tax law. The procedure  in
such  action shall be the procedure prescribed by article 13 of the real
property actions and proceedings law for the foreclosure  of  mortgages.
At any time following the commencement of an action to foreclose a lien,
the amount required to redeem the lien, or the amount received upon sale
of  a  property,  may include reasonable and necessary collection costs,
attorneys' fees, legal costs, allowances, and disbursements.
  (g) The provisions of title 5 of article 11 of the real  property  tax
law  shall  apply so far as is practicable to a contract for the sale of
tax liens pursuant to this act.
  S 2. This act shall take effect immediately and shall  expire  and  be
deemed repealed on and after December 31, 2011.

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Assembly Bill A4554

Signed By Governor

Sponsored By

Archive: Last Bill Status - Signed by Governor

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Votes

Jul 9, 2009 - Floor Vote

Floor Vote: Jul 9, 2009

Bill Amendments

2009-A4554 - Details

2009-A4554 - Summary

2009-A4554 - Bill Text download pdf

2009-A4554A - Details

2009-A4554A - Summary

2009-A4554A - Bill Text download pdf

2009-A4554B - Details

2009-A4554B - Summary

2009-A4554B - Bill Text download pdf

2009-A4554C (ACTIVE) - Details

2009-A4554C (ACTIVE) - Summary

2009-A4554C (ACTIVE) - Sponsor Memo

2009-A4554C (ACTIVE) - Bill Text download pdf

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Get Status Alerts for 2009-A4554

Assembly Bill A4554

Signed By Governor

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Sponsored By

AMEDORE

Archive: Last Bill Status - Signed by Governor

Actions

Votes

Bill Amendments

2009-A4554 - Details

2009-A4554 - Summary

2009-A4554 - Bill Text download pdf

2009-A4554A - Details

2009-A4554A - Summary

2009-A4554A - Bill Text download pdf

2009-A4554B - Details

2009-A4554B - Summary

2009-A4554B - Bill Text download pdf

2009-A4554C (ACTIVE) - Details

2009-A4554C (ACTIVE) - Summary

2009-A4554C (ACTIVE) - Sponsor Memo

2009-A4554C (ACTIVE) - Bill Text download pdf

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