Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2010 |
referred to real property taxation |
May 29, 2009 |
referred to real property taxation |
Assembly Bill A8607
2009-2010 Legislative Session
Sponsored By
ESPAILLAT
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2009-A8607 (ACTIVE) - Details
- Current Committee:
- Assembly Real Property Taxation
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Add ยง1115, RPT L
2009-A8607 (ACTIVE) - Sponsor Memo
BILL NUMBER:A8607 TITLE OF BILL: An act to amend the real property tax law, in relation to redemption of certain property owned by persons deployed by the United States military PURPOSE: This bill would allow any local government entity to waive fees, inter- est and penalties for the redemption of foreclosed residential real estate caused by financial hardship as a result of military activation. SUMMARY OF SPECIFIC PROVISIONS: Section 1: Bill title. Section 2: Amends the real property tax law so that a local government can allow an owner of foreclosed residential real estate, or their surviving spouse or domestic partner, to redeem such real estate without paying any interest, penalties and fees, providing the foreclosure was a result of financial hardship caused by military activation overseas and other conditions. Section 3: Effective date. JUSTIFICATION: This bill recognizes that many service members experience hardship as a result of activation to duty and service to the country. Often, this
2009-A8607 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8607 2009-2010 Regular Sessions I N A S S E M B L Y May 29, 2009 ___________ Introduced by M. of A. ESPAILLAT -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to redemption of certain property owned by persons deployed by the United States mili- tary THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. This act shall be known and may be cited as the "veteran home redemption relief act". S 2. The real property tax law is amended by adding a new section 1115 to read as follows: S 1115. WAIVER OF INTEREST, PENALTIES AND FEES FOR REDEMPTION FOR CERTAIN PERSONS DEPLOYED BY THE MILITARY. A COUNTY, CITY, TOWN, VILLAGE OR OTHER TAXING ENTITY MAY BY LAW, ORDINANCE OR REGULATION OF GENERAL APPLICABILITY PERMIT THE FORMER OWNER OR THE SURVIVING SPOUSE OR DOMES- TIC PARTNER OF THE FORMER OWNER OF RESIDENTIAL REAL ESTATE FORECLOSED WITHIN THE PRECEDING THREE YEARS TO REDEEM SUCH REAL ESTATE WITHOUT INTEREST, PENALTIES AND FEES OWED TO SUCH GOVERNMENTAL ENTITY, PROVIDED THAT: (1) THE PROPERTY WAS THE FORMER OWNER'S PRINCIPAL PLACE OF RESIDENCE; (2) THE FORECLOSURE WAS A RESULT OF FINANCIAL HARDSHIP CAUSED IN SUBSTANTIAL PART BY THE OWNER'S HAVING BEEN ORDERED TO ACTIVE MILITARY DUTY IN THE UNITED STATES ARMED FORCES INCLUDING THE RESERVE COMPONENTS OF SUCH ARMED FORCES; (3) THE OWNER'S MILITARY ACTIVATION LASTED FOR AT LEAST SIX CONTIGUOUS MONTHS; (4) THE TITLE TO THE PROPERTY HAS NOT BEEN ACQUIRED BY A BONA FIDE PURCHASER WHO WILL USE IT FOR HIS OR HER OWN PRIMARY RESIDENCE; AND (5) THE FORMER OWNER PROVIDES SATISFACTORY WRITTEN EVIDENCE OF THE REQUIREMENTS SET FORTH IN THIS SECTION TO THE CHIEF ELECTED OFFICER OF SUCH COUNTY, CITY, TOWN, VILLAGE OR TAXING ENTITY, OR THEIR DESIGNEE, OR ANY OTHER OFFICIAL THAT MAY BE DESIGNATED BY SUCH LAW, ORDINANCE OR REGULATION. S 3. This act shall take effect immediately.
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