S T A T E O F N E W Y O R K
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2607
2011-2012 Regular Sessions
I N S E N A T E
January 26, 2011
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Introduced by Sen. KRUGER -- read twice and ordered printed, and when
printed to be committed to the Committee on Local Government
AN ACT to amend the real property tax law, in relation to authorizing
the governing body of the city of New York to allow certain homeowners
a real property tax credit for the cost of sewer improvement on
certain dwellings
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The real property tax law is amended by adding a new
section 470 to read as follows:
S 470. TAX CREDIT AFFORDED CERTAIN HOMEOWNERS FOR THE COST OF IMPROVE-
MENTS MADE TO PREVENT SEWER BACKUPS INTO CERTAIN DWELLINGS. 1. THE
GOVERNING BODY OF THE CITY OF NEW YORK IS HEREBY AUTHORIZED AND
EMPOWERED TO ADOPT, AFTER PUBLIC HEARING, IN ACCORDANCE WITH SUBDIVISION
TWO OF THIS SECTION, A LOCAL LAW, ORDINANCE OR RESOLUTION PROVIDING FOR
A CREDIT ON TAXES OF SAID MUNICIPAL CORPORATION, FOR A PERIOD OF ONE
YEAR, ON REAL PROPERTY CONTAINING A ONE, TWO, THREE OR FOUR FAMILY
DWELLING BY AN AMOUNT CONSTITUTING THE COST OF ANY IMPROVEMENTS MADE BY
THE OWNER OF SUCH DWELLINGS TO PREVENT SEWER AND DRAINAGE BACKUPS IN
SUCH DWELLINGS.
2. ANY SUCH LOCAL LAW, ORDINANCE OR RESOLUTION SHALL PROVIDE THAT THE
OWNER OF A ONE, TWO, THREE OR FOUR FAMILY DWELLING SHALL PROVIDE PROOF
OF THE COST OF ANY SUCH IMPROVEMENTS AS DESCRIBED IN SUBDIVISION ONE OF
THIS SECTION WHEREUPON A TAX CREDIT IN AN AMOUNT CONSTITUTING SUCH COST
SHALL BE GRANTED FOR THE NEXT SUCCEEDING TAX PERIOD.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07244-01-1