senate Bill S1289

2011-2012 Legislative Session

Relates to assessed valuation of property for purposes of adjustment of maximum rents

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to housing, construction and community development
Jan 06, 2011 referred to housing, construction and community development

S1289 - Details

Current Committee:
Law Section:
New York City Administrative Code
Laws Affected:
Amd ยง26-405, NYC Ad Cd
Versions Introduced in 2009-2010 Legislative Session:
S6255

S1289 - Summary

Relates to assessed valuation of property for purposes of adjustment of maximum rents.

S1289 - Sponsor Memo

S1289 - Bill Text download pdf

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

                                  1289

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             January 6, 2011
                               ___________

Introduced  by  Sen.  DUANE  -- 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  administrative code of the city of New York, in
  relation to assessed valuation of property for purposes of  adjustment
  of maximum rents

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

  Section 1. The opening paragraph of clause 1 of  subparagraph  (a)  of
paragraph  1  of  subdivision  g of section 26-405 of the administrative
code of the city of New York is amended to read as follows:
  Such valuation shall  be  the  current  EQUALIZED  assessed  valuation
established by the city BASED UPON THE APPROPRIATE TAX CLASS RATIO WHICH
IS  ESTABLISHED PURSUANT TO ARTICLE TWELVE OF THE REAL PROPERTY TAX LAW,
which is in effect at the time of the filing of the application  for  an
adjustment under this subparagraph [(a)]; provided that:
  S 2. The provisions of section one of this act shall be deemed to have
been in full force and effect on and after September 30, 1997, and shall
apply  to  any  proceeding  pending on the effective date of this act or
determined thereafter.
  S 3. This act shall take effect immediately; provided that the  amend-
ments  to section 26-405 of the city rent and rehabilitation law made by
section one of this act shall remain in full force and  effect  only  as
long  as  the  public  emergency requiring the regulation and control of
residential rents and evictions continues, as provided in subdivision  3
of section 1 of the local emergency housing rent control act.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01151-01-1

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