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Senate Bill S3654

2009-2010 Legislative Session

Provides an exemption from the real estate transfer tax for certain conveyances to the town of Brookhaven, county of Suffolk

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

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2009-S3654 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd ยง1405, Tax L

2009-S3654 (ACTIVE) - Summary

Provides an exemption from the real estate transfer tax for certain conveyances to the town of Brookhaven, county of Suffolk.

2009-S3654 (ACTIVE) - Sponsor Memo

2009-S3654 (ACTIVE) - Bill Text download pdf 

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

                                  3654

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             March 26, 2009
                               ___________

Introduced  by  Sens.  LAVALLE, FOLEY -- read twice and ordered printed,
  and when printed to be committed to the  Committee  on  Investigations
  and Government Operations

AN  ACT to amend the tax law, in relation to providing an exemption from
  the real estate transfer tax for certain conveyances to  the  town  of
  Brookhaven, county of Suffolk

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

  Section 1. Paragraph 10 of subdivision (b) of section 1405 of the  tax
law,  as amended by chapter 61 of the laws of 1989, is amended and a new
paragraph 11 is added to read as follows:
  10. Conveyances of an option or contract  to  purchase  real  property
with  the  use  or occupancy of such property where the consideration is
less than two hundred thousand dollars and such property was used solely
by the grantor as his personal residence and consists of a one,  two  or
three-family  house,  an  individual residential condominium unit or the
sale of stock in a cooperative housing corporation  in  connection  with
the  grant or transfer of a proprietary leasehold covering an individual
residential cooperative unit[.];
  11. CONVEYANCES OF VACANT LAND TO THE TOWN OF  BROOKHAVEN,  COUNTY  OF
SUFFOLK,  WHERE  SUCH  VACANT  LAND  IS TO BE USED BY SUCH TOWN FOR OPEN
SPACE PURPOSES.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04617-01-9

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