Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2010 |
referred to housing, construction and community development |
Apr 23, 2009 |
referred to housing, construction and community development |
Senate Bill S4466
2009-2010 Legislative Session
Sponsored By
(R, C) 24th Senate District
Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development 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-S4466 (ACTIVE) - Details
- Current Committee:
- Senate Housing, Construction And Community Development
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd ยง421-b, RPT L
2009-S4466 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4466 TITLE OF BILL : An act to amend the real property tax law, in relation to extending the deadline for exemptions for certain private dwellings PURPOSE : This legislation extends for an additional year the ability to complete construction of a residence where construction was previously commenced to take advantage of the 421-b tax incentive program. SUMMARY OF PROVISIONS : This bill amends the real property tax law to extend the date for completion of a residence until July 1, 2010 to be subject to the tax benefits under the 421-b program which sunsets on July 1, 2009. JUSTIFICATION : The 421-b tax incentive program currently applies to residences which commenced construction before July 1, 2006 and were completed by July 1, 2008. This program was not extended so its application has ceased with the exception of unfinished units which must obtain a certificate of occupancy by July 1, 2008. This program provides a tax year graduated phase-in of taxes on new home construction or substantial rehabilitation of a one-or two-family home. The downturn in the housing market coupled with the difficulty involved in obtaining
2009-S4466 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4466 2009-2010 Regular Sessions I N S E N A T E April 23, 2009 ___________ Introduced by Sen. LANZA -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to amend the real property tax law, in relation to extending the deadline for exemptions for certain private dwellings THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (a) of subdivision 2 of section 421-b of the real property tax law, as amended by chapter 347 of the laws of 2008, is amended to read as follows: (a) For purposes of this section: "private dwelling" shall mean an owner occupied building or structure, with the land on which the same is constructed, intended for residential use and occupancy by one or more families living independently of each other with separate cooking facil- ities, which is not a multiple dwelling within the meaning of the multi- ple dwelling law, and the construction, reconstruction or conversion of which (i) is commenced after July first, nineteen hundred seventy-eight and before July first, nineteen hundred eighty-two and is completed no later than April first, nineteen hundred eighty-four; (ii) is commenced on or after July first, nineteen hundred eighty-two and before July first, nineteen hundred eighty-six and is completed no later than July first, nineteen hundred eighty-eight; (iii) is commenced on or after July first, nineteen hundred eighty-six and before July first, nineteen hundred ninety and is completed no later than July first, nineteen hundred ninety-two; (iv) is commenced on or after July first, nineteen hundred ninety and before July first, nineteen hundred ninety-four and is completed no later than July first, nineteen hundred ninety-six; (v) is commenced on or after July first, nineteen hundred ninety-four and before July first, nineteen hundred ninety-eight and is completed no later than July first, two thousand; (vi) is commenced on or after July first, nineteen hundred ninety-eight and before July first, two thousand EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11396-01-9
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