S T A T E O F N E W Y O R K
________________________________________________________________________
5568
2009-2010 Regular Sessions
I N A S S E M B L Y
February 13, 2009
___________
Introduced by M. of A. V. LOPEZ -- read once and referred to the Commit-
tee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to tax exemption
for new multiple dwellings
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The opening paragraph of item (A) of subparagraph (iv) of
paragraph (a) of subdivision 2 of section 421-a of the real property tax
law, as amended by chapter 618 of the laws of 2007, is amended to read
as follows:
Unless excluded by local law, in the city of New York, the benefits of
this subparagraph shall be available in the borough of Manhattan for new
multiple dwellings on tax lots now existing or hereafter created south
of or adjacent to either side of one hundred tenth street which commence
construction after July first, nineteen hundred ninety-two and before
December twenty-eighth, two thousand [ten] THIRTEEN only if:
S 2. Subparagraph (ii) of paragraph (c) of subdivision 2 of section
421-a of the real property tax law, as amended by chapter 618 of the
laws of 2007, is amended to read as follows:
(ii) construction is commenced after January first, nineteen hundred
seventy-five and before December twenty-eighth, two thousand [ten] THIR-
TEEN provided, however, that such commencement period shall not apply to
multiple dwellings eligible for benefits under subparagraph (iv) of
paragraph (a) of this subdivision;
S 3. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08866-01-9