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Senate Bill S8173

Signed By Governor

2009-2010 Legislative Session

Relates to a real estate tax abatement program for certain commercial, industrial and manufacturing properties in a city with a population of one million or more

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Sponsored By

Archive: Last Bill Status - Signed by Governor

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2009-S8173 (ACTIVE) - Details

See Assembly Version of this Bill:
A11279
Law Section:
Real Property Tax Law
Laws Affected:
Amd §§499-aa & 499-cc, RPT L

2009-S8173 (ACTIVE) - Summary

Relates to extending the eligibility for a real estate tax abatement program for certain commercial, industrial and manufacturing properties in a city with a population of one million or more.

2009-S8173 (ACTIVE) - Sponsor Memo

2009-S8173 (ACTIVE) - Bill Text download pdf 

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

                                  8173

                            I N  S E N A T E

                              June 14, 2010
                               ___________

Introduced  by  Sen. KRUEGER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT to amend the real property tax law, in relation to a real  estate
  tax  abatement program for certain commercial, industrial and manufac-
  turing properties in a city of one million or more persons

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

  Section  1.  Subdivision  9 of section 499-aa of the real property tax
law, as amended by chapter 403 of the laws of 2006, is amended  to  read
as follows:
  9.  "Eligibility  period." The period commencing April first, nineteen
hundred ninety-five and terminating  March  thirty-first,  two  thousand
one,  provided,  however, that with respect to eligible premises defined
in subparagraph (i) of paragraph (b) of subdivision ten of this section,
the period commencing July first,  two  thousand  and  terminating  June
thirtieth,  two thousand [ten] FOURTEEN, and provided, further, however,
that with respect to eligible premises defined in subparagraph  (ii)  of
paragraph  (b)  or paragraph (c) of subdivision ten of this section, the
period commencing July first, two thousand  five  and  terminating  June
thirtieth, two thousand [ten] FOURTEEN.
  S  2.  Subparagraph (iii) of paragraph (a) of subdivision 3 of section
499-cc of the real property tax law, as amended by chapter  403  of  the
laws of 2006, is amended to read as follows:
  (iii)  With  respect  to the eligible premises defined in subparagraph
(ii) of paragraph (b) or paragraph (c) of  subdivision  ten  of  section
four  hundred ninety-nine-aa of this title and for purposes of determin-
ing whether the amount of expenditures required by  subdivision  one  of
this  section  have  been satisfied, expenditures on improvements to the
common areas of an eligible building shall be included only if  work  on
such  improvements  commenced  and the expenditures are made on or after
July first, two thousand five and on or  before  December  thirty-first,
two  thousand  [ten]  FOURTEEN;  provided, however, that expenditures on
improvements to the common areas of an eligible building made  prior  to
three years before the lease commencement date shall not be included.

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

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