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Assembly Bill A5724

2009-2010 Legislative Session

Relates to the taxation of property owned by a cooperative corporation

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Archive: Last Bill Status - In Assembly Committee

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2009-A5724 (ACTIVE) - Details

See Senate Version of this Bill:
S255
Current Committee:
Assembly Ways And Means
Law Section:
Real Property Tax Law
Laws Affected:
Amd §581, RPT L; amd §339-y, RP L
Versions Introduced in Other Legislative Sessions:
2011-2012: A4981, S546
2013-2014: A682, S1000
2015-2016: A5484, S618
2017-2018: A2874, S1191
2019-2020: A5221, S7057
2021-2022: A3491, S5946
2023-2024: A1292, S4065
2025-2026: A3812, S5460

2009-A5724 (ACTIVE) - Summary

Relates to the taxation of property owned by a cooperative corporation.

2009-A5724 (ACTIVE) - Bill Text download pdf 

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

                                  5724

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 19, 2009
                               ___________

Introduced  by M. of A. GALEF, BRADLEY, McENENY -- Multi-Sponsored by --
  M. of A. N. RIVERA -- read once and referred to the Committee on  Real
  Property Taxation

AN  ACT to amend the real property tax law and the real property law, in
  relation to the taxation of property owned  by  a  cooperative  corpo-
  ration

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

  Section 1. Subdivision 1 of section 581 of the real property  tax  law
is amended by adding a new paragraph (d) to read as follows:
  (D)  THE  PROVISIONS  OF  PARAGRAPH  (A) OF THIS SUBDIVISION SHALL NOT
APPLY TO REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE  CORPORATION  OR
ON  A CONDOMINIUM BASIS IN A MUNICIPAL CORPORATION, OTHER THAN A SPECIAL
ASSESSING UNIT, WHICH HAS ADOPTED, PRIOR TO THE TAXABLE STATUS  DATE  OF
THE ASSESSMENT ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW OR,
FOR  A  SCHOOL  DISTRICT,  A RESOLUTION PROVIDING THAT THE PROVISIONS OF
PARAGRAPH (A) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH REAL  PROPERTY
WITHIN  THAT MUNICIPAL CORPORATION; PROVIDED, HOWEVER, THE PROVISIONS OF
THIS PARAGRAPH SHALL NOT APPLY TO REAL PROPERTY OWNED  OR  LEASED  BY  A
COOPERATIVE  CORPORATION  OR ON A CONDOMINIUM BASIS THAT HAD BEEN PREVI-
OUSLY SUBJECT TO THE PROVISIONS OF PARAGRAPH  (A)  OF  THIS  SUBDIVISION
PRIOR TO JANUARY FIRST, TWO THOUSAND ELEVEN.
  S  2.    Subdivision  1  of  section 339-y of the real property law is
amended by adding a new paragraph (g) to read as follows:
  (G) THE PROVISIONS OF PARAGRAPH (B)  OF  THIS  SUBDIVISION  SHALL  NOT
APPLY  TO  REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE CORPORATION OR
ON A CONDOMINIUM BASIS IN A MUNICIPAL CORPORATION OTHER THAN  A  SPECIAL
ASSESSING  UNIT,  WHICH HAS ADOPTED, PRIOR TO THE TAXABLE STATUS DATE OF
THE ASSESSMENT ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW OR,
FOR A SCHOOL DISTRICT, A RESOLUTION PROVIDING  THAT  THE  PROVISIONS  OF
PARAGRAPH  (B) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH REAL PROPERTY

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00970-01-9

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