S T A T E O F N E W Y O R K
________________________________________________________________________
6347
2009-2010 Regular Sessions
I N A S S E M B L Y
March 2, 2009
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Introduced by M. of A. GORDON -- read once and referred to the Committee
on Real Property Taxation
AN ACT to amend the real property tax law, in relation to removing the
mandatory use of bank codes by the assessor's office for escrow
accounts
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 518 of the real property tax law, as amended by
chapter 145 of the laws of 1990, is amended to read as follows:
S 518. Change in tax billing address. Where the assessor receives a
report of a transfer occurring after the taxable status date, or is
otherwise notified of a change in tax billing address, the assessor
shall enter the new tax billing address on the data file, as that term
is defined in section fifteen hundred eighty-one of this chapter. Where
no such data file exists, the assessor shall enter the new tax billing
address on the assessment roll. If the assessor does not have custody of
the assessment roll when such report is received, he or she shall report
the new tax billing address to the person having custody of the tax
roll, which person shall enter the new tax billing address on the tax
roll. Nothing contained [herein] IN THIS SECTION shall be construed to
authorize a change of the name of the owner included in the data file or
appearing on the roll. WHERE SUCH "TAX BILLING ADDRESS" IS A MORTGAGE
INVESTING INSTITUTION OR AGENT THEREOF, THE ASSESSOR SHALL MAKE NO
ENTRY.
S 2. Subdivision 9 of section 953 of the real property tax law, as
amended by chapter 145 of the laws of 1990, is amended to read as
follows:
9. Every mortgage investing institution shall, no later than the twen-
ty-fifth day of each month, report to the county director of real prop-
erty tax services, or the commissioner of finance for property located
in the city of New York, on a form prescribed or approved by the state
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06392-01-9
A. 6347 2
board, the creation of a real property tax escrow account, or any change
of a tax billing address required by a transfer or termination of a real
property tax escrow account pursuant to subdivisions seven and eight of
this section, occurring during the prior month with respect to real
property located in such county or city, as the case may be. The county
director or the commissioner of finance of the city of New York shall
thereupon furnish a copy of such report to the person or persons having
custody and control of the appropriate [assessment roll,] tax roll or
data file, as defined in section fifteen hundred eighty-one of this
chapter, and such person or persons are hereby authorized and directed
upon receipt of such report to enter the appropriate tax billing address
on such [assessment roll,] tax roll or data file.
S 3. This act shall take effect immediately.