NY State Senate Bill 2009-S8369

Archive: Last Bill Status - In Senate Committee Rules 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

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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jun 25, 2010	referred to rules

2009-S8369 (ACTIVE) - Details

Current Committee:: Senate Rules
Law Section:: Real Property Tax Law
Laws Affected:: Amd §421-a, RPT L

2009-S8369 (ACTIVE) - Summary

Provides tax exemptions for new multiple dwellings.

2009-S8369 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S8369

TITLE OF BILL:
An act
to amend the real property tax law, in relation to tax exemption for new
multiple dwellings

SUMMARY OF PROVISIONS:
This bill amends Section 421-a of the Real Property Tax Law by
extending the benefits thereof for projects commencing before
December 28, 2010 to projects commencing before December 28, 2014. It
also (a) amends the definition of commencement to mean the date that,
pursuant to a permit approved by a department of buildings:

(i) a new metal or concrete structure that shall perform a load
bearing function is installed as part of a foundation,
(ii) at least one fully driven pile or caisson is installed, or
(iii) the actual
construction, alteration or improvement of a preexisting building or
structure begins in a project that includes new residential
construction and the concurrent conversion, alteration or improvement
of a pre-existing building or structure; provided, however, that with
respect to all of these options, the construction of such multiple
dwelling is completed without undue delay,
(b) eliminates the
requirement that a separate application be filed with the assessors,

(c) mandates the prescribed filing fees, and
(d) changes a section
reference to reflect renumbering in the New York City Zoning
Resolution.

This bill also provides an additional three years for projects that
started construction between January 1, 2007 through June 30, 2009 to
complete construction prior to losing tax benefits.

REASONS FOR SUPPORT:
Section 421-a of the Real property Tax Law has provided tax benefits
for construction of new residential buildings in the City of New York
since 1971. Section 421-a benefits are available for up to
twenty-five years depending upon the location of the multiple
dwelling. It provides a period of full exemption followed by a
phase-out to full taxation. The continuing shortage of affordable
housing in the City of New York necessitates the extension of this
essential tax exemption program that serves as an incentive for the
development of new housing,

The 421-a program has been primarily responsible for encouraging the
construction of new housing in New York City since 1971. Since 1985,
the 421-a program has also been responsible for generating affordable
units both in Manhattan and the outer boroughs. The proposed

legislation will ensure that the 421-a program continues to fulfill
this mission.

The bill recognizes that some existing projects may need additional
time to be completed due to the downturn in the economy and the
unavailability of construction financing necessary for the completion
of such projects. Those projects that were commenced between January
1, 2007 - June 30, 2009 will have an additional three years to
complete construction before the construction period tax benefits
expire. Those buildings which commenced construction between July 1,
2008 and June 30, 2009 are afforded an additional three years to
complete construction, however such buildings are otherwise fully
subject to the amendments to the 421-a program that became effective
on July 1, 2008.

The proposed legislation also makes other changes to the 421-a
program. First, it provides an amended definition of commencement of
construction to more accurately reflect current standards and
practices. Local law now requires the Issuance of permits pursuant to
approved architectural, structural and plumbing plans in order for a
project to be deemed to have been commenced. In practice, though,
full permits based upon approved plumbing plans are not issued until
much later III the construction process, The proposed legislation
eliminates this requirement and recognizes that installation of a new
metal or concrete structure that will perform a load bearing function
pursuant to any approved permit meets the definition of commencement
of construction. Additionally, under this definition, the
installation of at least one fully driven pile or caisson pursuant to
an approved permit or actual start of work on the conversion,
alteration or improvement of a pre-existing building or structure
incorporated into the new multiple dwelling pursuant to an approved
permit; also constitute the commencement of construction. In all
instances, the construction must be completed without undue delay.

In addition, the proposed legislation eliminates the requirement that
applicants for 421-a benefits file a separate application with the
City of New York's Department of Finance. This will streamline the
application process and eliminate unnecessary paperwork. The proposed
legislation also makes the current application fee provisions
mandatory so that the local housing agency need not promulgate rules
to implement them.

EFFECTIVE DATE:
Immediately.

2009-S8369 (ACTIVE) - Bill Text download pdf

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

                                  8369

                            I N  S E N A T E

                              June 25, 2010
                               ___________

Introduced  by COMMITTEE ON RULES -- read twice and ordered printed, and
  when printed to be committed to the Committee on Rules

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. Subparagraph (i) of  paragraph  (a)  of  subdivision  2  of
section 421-a of the real property tax law, as amended by chapter 288 of
the laws of 1985, is amended to read as follows:
  (i)  Within  a  city  having  a population of one million or more, new
multiple dwellings, except hotels, shall be  exempt  from  taxation  for
local  purposes,  other than assessments for local improvements, for the
tax year or years immediately following taxable status  dates  occurring
subsequent   to   the  commencement  and  prior  to  the  completion  of
construction, but not to exceed three such tax  years,  EXCEPT  FOR  NEW
MULTIPLE  DWELLINGS  THE CONSTRUCTION OF WHICH COMMENCED BETWEEN JANUARY
FIRST, TWO THOUSAND SEVEN AND JUNE THIRTIETH, TWO  THOUSAND  NINE  WHICH
SHALL BE EXEMPT FROM TAXATION FOR LOCAL PURPOSES, OTHER THAN ASSESSMENTS
FOR  LOCAL IMPROVEMENTS, FOR THE TAX YEAR OR YEARS IMMEDIATELY FOLLOWING
TAXABLE STATUS DATES OCCURRING SUBSEQUENT TO THE COMMENCEMENT AND  PRIOR
TO THE COMPLETION OF CONSTRUCTION, BUT NOT TO EXCEED SIX SUCH TAX YEARS,
and  shall  continue  to be exempt from such taxation in tax years imme-
diately following the taxable status  date  first  occurring  after  the
expiration of the exemption herein conferred during construction so long
as  used  at  the completion of construction for dwelling purposes for a
period not to exceed ten years in the aggregate after the taxable status
date immediately following the completion thereof, as follows:
  (A) except as otherwise provided herein there shall be full  exemption
from  taxation  during the period of construction or the period of three
years immediately  following  commencement  of  construction,  whichever
expires  sooner,  EXCEPT  FOR NEW MULTIPLE DWELLINGS THE CONSTRUCTION OF
WHICH COMMENCED BETWEEN JANUARY FIRST, TWO THOUSAND SEVEN AND JUNE THIR-
TIETH, TWO THOUSAND NINE WHICH SHALL BE ELIGIBLE FOR FULL EXEMPTION FROM
TAXATION DURING THE PERIOD OF CONSTRUCTION OR THE PERIOD  OF  SIX  YEARS

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

                                                           LBD17886-01-0

S. 8369                             2

IMMEDIATELY  FOLLOWING  COMMENCEMENT  OF CONSTRUCTION, WHICHEVER EXPIRES
SOONER, and for two years following such period;
  (B)  followed  by  two years of exemption from eighty per cent of such
taxation;
  (C) followed by two years of exemption from sixty  per  cent  of  such
taxation;
  (D)  followed  by  two  years of exemption from forty per cent of such
taxation;
  (E) followed by two years of exemption from twenty per  cent  of  such
taxation;
  The  following  table  shall  illustrate  the  computation  of the tax
exemption:

               CONSTRUCTION OF CERTAIN MULTIPLE DWELLINGS

                                                  Exemption
During Construction (maximum three years,         100%
EXCEPT FOR CONSTRUCTION COMMENCEMENT
BETWEEN JANUARY FIRST, TWO THOUSAND SEVEN
AND JUNE THIRTIETH, TWO THOUSAND NINE WHICH
HAS A MAXIMUM OF SIX YEARS)
Following completion of work
Year:

 1                                                100%
 2                                                100
 3                                                 80
 4                                                 80
 5                                                 60
 6                                                 60
 7                                                 40
 8                                                 40
 9                                                 20
10                                                 20

  S 2. Clause (A) of subparagraph (ii) of paragraph (a) of subdivision 2
of section 421-a of the real property tax law, as amended by chapter 288
of the laws of 1985, is amended to read as follows:
  (A) Within a city having a population of one million or more the local
housing agency may adopt rules and regulations providing that except  in
areas excluded by local law new multiple dwellings, except hotels, shall
be  exempt  from taxation for local purposes, other than assessments for
local improvements, for the tax  year  or  years  immediately  following
taxable  status dates occurring subsequent to the commencement and prior
to the completion of construction, but not  to  exceed  three  such  tax
years,  EXCEPT  FOR  NEW  MULTIPLE  DWELLINGS  THE CONSTRUCTION OF WHICH
COMMENCED BETWEEN JANUARY FIRST, TWO THOUSAND SEVEN AND JUNE  THIRTIETH,
TWO  THOUSAND  NINE  WHICH  SHALL  BE  EXEMPT  FROM  TAXATION  FOR LOCAL
PURPOSES, OTHER THAN ASSESSMENTS FOR LOCAL  IMPROVEMENTS,  FOR  THE  TAX
YEAR  OR  YEARS  IMMEDIATELY  FOLLOWING  TAXABLE  STATUS DATES OCCURRING
SUBSEQUENT  TO  THE  COMMENCEMENT  AND  PRIOR  TO  THE   COMPLETION   OF
CONSTRUCTION,  BUT  NOT TO EXCEED SIX SUCH TAX YEARS, and shall continue
to be exempt from such taxation in tax years immediately  following  the
taxable  status  date  first  occurring  after  the  expiration  of  the
exemption herein conferred during such construction so long as  used  at

S. 8369                             3

the completion of construction for dwelling purposes for a period not to
exceed fifteen years in the aggregate, as follows:
  a.  except  as otherwise provided herein there shall be full exemption
from taxation during the period of construction or the period  of  three
years  immediately  following  commencement  of  construction, whichever
expires sooner, EXCEPT FOR NEW MULTIPLE DWELLINGS  THE  CONSTRUCTION  OF
WHICH COMMENCED BETWEEN JANUARY FIRST, TWO THOUSAND SEVEN AND JUNE THIR-
TIETH, TWO THOUSAND NINE WHICH SHALL BE ELIGIBLE FOR FULL EXEMPTION FROM
TAXATION  DURING  THE  PERIOD OF CONSTRUCTION OR THE PERIOD OF SIX YEARS
IMMEDIATELY FOLLOWING COMMENCEMENT OF  CONSTRUCTION,  WHICHEVER  EXPIRES
SOONER, and for eleven years following such period;
  b. followed by one year of exemption from eighty percent of such taxa-
tion;
  c.  followed by one year of exemption from sixty percent of such taxa-
tion;
  d. followed by one year of exemption from forty percent of such  taxa-
tion;
  e. followed by one year of exemption from twenty percent of such taxa-
tion.
  S  3.  Subclause b of clause (C) of subparagraph (ii) of paragraph (a)
of subdivision 2 of section 421-a of  the  real  property  tax  law,  as
amended  by  chapter  288  of  the  laws  of 1985, is amended to read as
follows:
  b. the local housing agency has imposed a requirement or has certified
that twenty percent of the units be affordable to families  of  low  and
moderate income.
  The following table shall illustrate the computation of the exemption:

                         CONSTRUCTION OF CERTAIN
                           MULTIPLE DWELLINGS

                                                  Exemption
During Construction (maximum three years,         100%
EXCEPT FOR CONSTRUCTION COMMENCEMENT
BETWEEN JANUARY FIRST, TWO THOUSAND SEVEN
AND JUNE THIRTIETH, TWO THOUSAND NINE WHICH
HAS A MAXIMUM OF SIX YEARS)
  Following completion of work
Year:
1 through 11                                      100%
12                                                 80
13                                                 60
14                                                 40
15                                                 20

  S  4. Clause (A) of subparagraph (iii) of paragraph (a) of subdivision
2 of section 421-a of the real property tax law, as amended  by  chapter
702 of the laws of 1992, is amended to read as follows:
  (A) Within a city having a population of one million or more the local
housing agency may adopt rules and regulations providing that new multi-
ple  dwellings,  except  hotels, shall be exempt from taxation for local
purposes, other than assessments for local  improvements,  for  the  tax
year  or  years  immediately  following  taxable  status dates occurring
subsequent  to  the  commencement  and  prior  to  the   completion   of
construction,  but  not  to  exceed three such tax years, EXCEPT FOR NEW
MULTIPLE DWELLINGS THE CONSTRUCTION OF WHICH COMMENCED  BETWEEN  JANUARY

S. 8369                             4

FIRST,  TWO  THOUSAND  SEVEN AND JUNE THIRTIETH, TWO THOUSAND NINE WHICH
SHALL BE EXEMPT FROM TAXATION FOR LOCAL PURPOSES, OTHER THAN ASSESSMENTS
FOR LOCAL IMPROVEMENTS, FOR THE TAX YEAR OR YEARS IMMEDIATELY  FOLLOWING
TAXABLE  STATUS DATES OCCURRING SUBSEQUENT TO THE COMMENCEMENT AND PRIOR
TO THE COMPLETION OF CONSTRUCTION, BUT NOT TO EXCEED SIX SUCH TAX YEARS,
and shall continue to be exempt from such taxation in  tax  years  imme-
diately  following  the  taxable  status  date first occurring after the
expiration of the exemption herein conferred during such construction so
long as used at the completion of construction for dwelling purposes for
a period not to exceed twenty-five years in the aggregate, provided that
the area in which the project is situated is a neighborhood preservation
program area as determined by the local housing agency as of June first,
nineteen hundred eighty-five, or is a neighborhood preservation area  as
determined  by  the  New York city planning commission as of June first,
nineteen hundred eighty-five, or is an area that was eligible for  mort-
gage  insurance provided by the rehabilitation mortgage insurance corpo-
ration as of May first,  nineteen  hundred  ninety-two  or  is  an  area
receiving  funding  for  a neighborhood preservation project pursuant to
the neighborhood reinvestment corporation act (42 U.S.C. SS180 et  seq.)
as of June first, nineteen hundred eighty-five, as follows:
  a.  except  as otherwise provided herein there shall be full exemption
from taxation during the period of construction or the period  of  three
years  immediately  following  commencement  of  construction, whichever
expires sooner, EXCEPT FOR NEW MULTIPLE DWELLINGS  THE  CONSTRUCTION  OF
WHICH COMMENCED BETWEEN JANUARY FIRST, TWO THOUSAND SEVEN AND JUNE THIR-
TIETH, TWO THOUSAND NINE WHICH SHALL BE ELIGIBLE FOR FULL EXEMPTION FROM
TAXATION  DURING  THE  PERIOD OF CONSTRUCTION OR THE PERIOD OF SIX YEARS
IMMEDIATELY FOLLOWING COMMENCEMENT OF  CONSTRUCTION,  WHICHEVER  EXPIRES
SOONER, and for twenty-one years following such period;
  b. followed by one year of exemption from eighty percent of such taxa-
tion;
  c.  followed by one year of exemption from sixty percent of such taxa-
tion;
  d. followed by one year of exemption from forty percent of such  taxa-
tion;
  e. followed by one year of exemption from twenty percent of such taxa-
tion.
  S  5. Subclause b of clause (D) of subparagraph (iii) of paragraph (a)
of subdivision 2 of section 421-a of  the  real  property  tax  law,  as
amended  by  chapter  288  of  the  laws  of 1985, is amended to read as
follows:
  b. the local housing agency has imposed a requirement or has certified
that twenty percent of the units be affordable to families  of  low  and
moderate income.
  The following table shall illustrate the computation of the exemption:

                         CONSTRUCTION OF CERTAIN
                           MULTIPLE DWELLINGS

                                                  Exemption
During Construction (maximum three years,         100%
EXCEPT FOR CONSTRUCTION
COMMENCEMENT BETWEEN JANUARY FIRST, TWO
THOUSAND SEVEN AND JUNE THIRTIETH,
TWO THOUSAND NINE WHICH HAS A MAXIMUM
OF SIX YEARS)

S. 8369                             5

Following completion of work
Year:
 1 through 21                                     100%
22                                                 80
23                                                 60
24                                                 40
25                                                 20

  S  6.  Item (B) of subparagraph (iv) of paragraph (a) of subdivision 2
of section 421-a of the real property tax law, as added by  chapter  832
of the laws of 1992, is amended to read as follows:
  (B)  Such  new multiple dwellings, except hotels, shall be exempt from
taxation for local purposes, other than assessments for  local  improve-
ments  for  the  tax  year or years immediately following taxable status
dates  occurring  subsequent  to  the  commencement  and  prior  to  the
completion  of  construction,  but  not  to exceed three such tax years,
EXCEPT FOR NEW MULTIPLE DWELLINGS THE CONSTRUCTION  OF  WHICH  COMMENCED
BETWEEN  JANUARY FIRST, TWO THOUSAND SEVEN AND JUNE THIRTIETH, TWO THOU-
SAND NINE WHICH SHALL BE EXEMPT FROM TAXATION FOR LOCAL PURPOSES,  OTHER
THAN ASSESSMENTS FOR LOCAL IMPROVEMENTS, FOR THE TAX YEAR OR YEARS IMME-
DIATELY  FOLLOWING  TAXABLE  STATUS  DATES  OCCURRING  SUBSEQUENT TO THE
COMMENCEMENT AND PRIOR TO THE COMPLETION OF  CONSTRUCTION,  BUT  NOT  TO
EXCEED  SIX  SUCH  TAX  YEARS, and shall continue to be exempt from such
taxation in tax years immediately following  the  taxable  status  dates
first  occurring  after the expiration of the exemption herein conferred
during  such  construction  so  long  as  used  at  the  completion   of
construction  for  dwelling  purposes  for a period not to exceed twenty
years in the aggregate, as follows:
  a. except as otherwise provided herein, there shall be full  exemption
from  taxation  during the period of construction or the period of three
years immediately  following  commencement  of  construction,  whichever
expires  sooner,  EXCEPT  FOR NEW MULTIPLE DWELLINGS THE CONSTRUCTION OF
WHICH COMMENCED BETWEEN JANUARY FIRST, TWO THOUSAND SEVEN AND JUNE THIR-
TIETH, TWO THOUSAND NINE WHICH SHALL BE ELIGIBLE FOR FULL EXEMPTION FROM
TAXATION DURING THE PERIOD OF CONSTRUCTION OR THE PERIOD  OF  SIX  YEARS
IMMEDIATELY  FOLLOWING  COMMENCEMENT  OF CONSTRUCTION, WHICHEVER EXPIRES
SOONER, and for twelve years following such period;
  b. followed by two years of exemption  from  eighty  percent  of  such
taxation;
  c. followed by two years of exemption from sixty percent of such taxa-
tion;
  d. followed by two years of exemption from forty percent of such taxa-
tion;
  e.  followed  by  two  years  of exemption from twenty percent of such
taxation.
  The following table shall illustrate the computation of the exemption:

                         CONSTRUCTION OF CERTAIN
                           MULTIPLE DWELLINGS

During construction (maximum three                     Exemption 100%
years, EXCEPT FOR CONSTRUCTION
COMMENCEMENT BETWEEN JANUARY FIRST,
TWO THOUSAND SEVEN AND JUNE THIRTIETH,
TWO THOUSAND NINE WHICH HAS A MAXIMUM

S. 8369                             6

OF SIX YEARS)
Following completion of work year:
                  1 through 12                         100%
                    13-14                               80%
                    15-16                               60%
                    17-18                               40%
                    19-20                               20%

  S  7.  The opening paragraph of item (A) of subparagraph (iv) of para-
graph (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] THAT
commence construction after July first, nineteen hundred ninety-two  and
before December twenty-eighth, two thousand [ten] FOURTEEN only if:
  S  8.  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] FOUR-
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 9. Paragraph (g) of subdivision 2 of section 421-a of the real prop-
erty  tax law, as amended by chapter 995 of the laws of 1981, is amended
to read as follows:
  (g) [For] NOTWITHSTANDING ANYTHING TO THE CONTRARY  CONTAINED  IN  ANY
OTHER  STATE  OR  LOCAL  LAW, FOR purposes of this section, construction
shall be deemed "commenced" [when excavation or alteration has begun  in
good  faith  on  the basis of approved construction plans] UPON THE DATE
THAT, PURSUANT TO ANY PERMIT APPROVED BY A DEPARTMENT OF BUILDINGS,  (I)
A  NEW  METAL  OR  CONCRETE  STRUCTURE THAT SHALL PERFORM A LOAD BEARING
FUNCTION IS INSTALLED AS PART OF A FOUNDATION, (II) AT LEAST  ONE  FULLY
DRIVEN  PILE  OR CAISSON IS INSTALLED, OR (III) THE ACTUAL CONSTRUCTION,
ALTERATION OR IMPROVEMENT OF A PRE-EXISTING BUILDING OR STRUCTURE BEGINS
IN A PROJECT THAT INCLUDES NEW RESIDENTIAL CONSTRUCTION AND THE  CONCUR-
RENT CONVERSION, ALTERATION OR IMPROVEMENT OF A PRE-EXISTING BUILDING OR
STRUCTURE;  PROVIDED,  HOWEVER,  THAT WITH RESPECT TO SUBPARAGRAPHS (I),
(II) AND (III) OF THIS PARAGRAPH,  THE  CONSTRUCTION  OF  SUCH  MULTIPLE
DWELLING IS COMPLETED WITHOUT UNDUE DELAY.
  S  10.  The  opening  paragraph and paragraph (iv) of subdivision 3 of
section 421-a of the real property tax law,  the  opening  paragraph  as
amended by chapter 655 of the laws of 1978 and paragraph (iv) as amended
by chapter 703 of the laws of 1976, are amended to read as follows:
  [Application  forms  for  exemption  under this section shall be filed
with the assessors between February first and March fifteenth and, based
on the certification of the local housing agency as herein provided, the
assessors shall certify to the collecting officer the amount of taxes to
be abated.] If there be in a city of one million population  or  more  a
department  of  housing  preservation and development, the term "housing
agency" shall mean only such  department  of  housing  preservation  and
development.  [No  such  application  shall be accepted by the assessors
unless accompanied by a certificate of the local housing agency certify-

S. 8369                             7

ing the applicant's eligibility pursuant to subdivisions two and four of
this section.] No  [such]  certification  of  eligibility  FOR  BENEFITS
PURSUANT  TO  THIS  SECTION  shall be issued by the local housing agency
until  such  agency  determines  the initial adjusted monthly rent to be
paid by tenants residing in rental dwelling units contained  within  the
multiple  dwelling  and the comparative adjusted monthly rent that would
have to be paid by such tenants if no tax exemption were  applicable  as
provided  by  this  section.   The initial adjusted monthly rent will be
certified by the local housing agency as the first rent for the  subject
dwelling  units. A copy of such certification with respect to such units
shall be attached by the applicant to the first effective lease or occu-
pancy agreement. The initial adjusted monthly  rent  shall  reflect  the
full tax exemption benefits as approved by the agency.
  (iv)  The adjusted monthly rent per room per month shall be multiplied
by the room count of each rental dwelling unit to  provide  the  initial
adjusted  monthly  rent  for  such  dwelling  unit. The agency may allow
adjustments in the initial adjusted  monthly  rent  for  any  particular
dwelling  units  provided that the total of the initial adjusted monthly
rents for all of the rental dwelling units in a multiple dwelling  shall
not exceed the total expenses of such multiple dwelling.
  The  agency shall determine the estimated comparative adjusted monthly
rent that would have to be paid if no tax exemption were  applicable  as
provided by this section by adding to the adjusted monthly rent for each
dwelling unit as hereinabove computed an amount equal to (a) the differ-
ence  between the projected real property taxes which would be levied on
the multiple dwelling and the land on which it is situated at  the  time
OF  estimated  initial  occupancy if no tax abatement were applicable as
provided by this section and the projected real property taxes  hereina-
bove  utilized in connection with the computation of total expenses; (b)
divided by the room count of the building as per this section;  and  (c)
multiplied  by  the applicants approved room count of each such dwelling
unit.
  The local housing agency may promulgate rules and regulations to carry
out the provisions of this section, not inconsistent with the provisions
hereof, [and may require a reasonable filing fee in an  amount  provided
by  such rules and regulations] INCLUDING, BUT NOT LIMITED TO, RULES AND
REGULATIONS RELATING TO THE FILING FEE AUTHORIZED PURSUANT TO  PARAGRAPH
B OF SUBDIVISION FOUR OF THIS SECTION.
  S  11. Paragraph b of subdivision 4 of section 421-a of the real prop-
erty tax law, as added by chapter 744 of the laws of 2004, is amended to
read as follows:
  b. The local housing agency [may] SHALL require a filing  fee  not  to
exceed  the  greater  of  (i)  four-tenths  of  one percent of the total
project cost, or (ii) if the building will be owned as a cooperative  or
condominium,  four-tenths  of  one  percent of the total project cost or
four-tenths of one percent of the total project sell-out price stated in
the last amendment to the offering  plan  accepted  for  filing  by  the
attorney  general  of  the  state,  at the option of the applicant. Such
total project cost or total project sell-out price shall  be  determined
pursuant to rules promulgated by the local housing agency. Notwithstand-
ing  the foregoing, the local housing agency may promulgate rules impos-
ing an additional fee  if  an  application,  or  any  part  thereof,  or
submission  in connection therewith, is defective and such defect delays
the processing of such application or causes the local housing agency to
expend additional resources in the processing of such application.

S. 8369                             8

  S 12. Subparagraph (i) of paragraph (a) of subdivision  6  of  section
421-a  of the real property tax law, as added by chapter 110 of the laws
of 2005, is amended to read as follows:
  (i)  "Covered  project."  (A) A new building located within the Green-
point - Williamsburg waterfront exclusion area, (B) two or  more  build-
ings which are part of one contiguous development entirely located with-
in  the  Greenpoint - Williamsburg waterfront exclusion area, (C) two or
more buildings which are located within the  Greenpoint  -  Williamsburg
waterfront  exclusion  area  and are part of a single development parcel
specifically identified in section [62-831] 62-931 of the  local  zoning
resolution,  or  (D) where so authorized in writing by the local housing
agency, one or more buildings located within the Greenpoint -  Williams-
burg waterfront exclusion area and one or more buildings located outside
the  Greenpoint  -  Williamsburg  waterfront  exclusion  area but within
Community District Number One in the borough of Brooklyn. The cumulative
number of affordable units located outside the Greenpoint - Williamsburg
waterfront exclusion area in all covered projects  described  in  clause
(D)  of  this  subparagraph  shall  not  exceed  two hundred. A building
located outside the Greenpoint - Williamsburg waterfront exclusion  area
which  is  part  of  a  covered  project described in clause (D) of this
subparagraph shall not contain any  affordable  units  with  respect  to
which  an application pending before a governmental entity on the effec-
tive date of this subdivision or a written agreement in  effect  on  the
effective  date of this subdivision provided for the development of such
affordable units.
  S 13. This act shall take effect immediately.

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Senate Bill S8369

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Archive: Last Bill Status - In Senate Committee Rules Committee

Actions

2009-S8369 (ACTIVE) - Details

2009-S8369 (ACTIVE) - Summary

2009-S8369 (ACTIVE) - Sponsor Memo

2009-S8369 (ACTIVE) - Bill Text download pdf

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