BILL NUMBER:A10810
TITLE OF BILL: An act to amend the real property tax law, in relation
to the empire zone exemption
PURPOSE OF THE BILL: To extend the local option property tax exemption
allowed under § 485-e of the Real Property Tax Law until December 31,
2010.
SUMMARY OF SPECIFIC PROVISIONS:
§ 1- Amends subparagraphs 1, 2 and 3 of paragraph (b) of subdivision 2
of § 485-e of the real Property Tax Law to extend the tax exemption
permitted under such section until December 31, 2010.
§ 2- Effective date.
JUSTIFICATION:- The tax exemption permitted under § 485-e of the Real
Property Tax Law is a local option and does not affect State funds but
is an economic development and job creation incentive that has been
available under New York State's Empire Zone program. Unfortunately,
the sunset of the Empire Zones program on June 30, 2010 has caused some
municipalities to not accept the application for such tax, exemption
beyond the taxable status date of 2009, therefore not allowing develop-
ers and others, who have invested in projects located in Empire Zones
because they believed they had a guarantee of incentives under the
S T A T E O F N E W Y O R K
________________________________________________________________________
10810
I N A S S E M B L Y
April 21, 2010
___________
Introduced by M. of A. SCHIMMINGER, DelMONTE, CAHILL, FIELDS, MAGNAREL-
LI, SKARTADOS, KOON, SPANO, CASTRO -- Multi-Sponsored by -- M. of A.
ABBATE, BOYLAND, DenDEKKER, HIKIND, MAGEE, SWEENEY -- read once and
referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to the empire
zone exemption
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph (b) of subdivision 2 of section 485-e of the real
property tax law, as added by chapter 686 of the laws of 1986, subpara-
graphs 1, 2 and 3 as further amended by section 15 of part GG of chapter
63 of the laws of 2000, is amended to read as follows:
(b) No such exemption shall be granted unless, pursuant to article
eighteen-B of the general municipal law:
(1) notice of the designation of the empire zone has been filed with
the clerk of the assessing unit by the commissioner on or before the
applicable taxable status date;
(2) the construction, alteration, installation or improvement
commenced on or after the date the empire zone was designated AND BEFORE
THE EMPIRE ZONE TERMINATES; and
(3) the [designation of the] empire zone has not [ended and has not
been] terminated [by the commissioner] on or before the applicable taxa-
ble status date, PROVIDED THAT FOR EMPIRE ZONE DESIGNATIONS TERMINATING
ON JUNE THIRTIETH, TWO THOUSAND TEN, APPLICATIONS PURSUANT TO SUBDIVI-
SION THREE OF THIS SECTION MAY BE ACCEPTED UNTIL DECEMBER THIRTY-FIRST
TWO THOUSAND TEN AND SUCH EXEMPTION MAY BE GRANTED.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD16731-01-0
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