Senate Bill S5900C

2011-2012 Legislative Session

Grants a local real property tax exemption to certain multiple dwellings for which construction commenced on or after October 1, 1993

download bill text pdf

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

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

View Actions

Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jun 21, 2012	recommitted to rules
Jun 19, 2012	ordered to third reading cal.1305 committee discharged and committed to rules
Jun 11, 2012	print number 5900c
Jun 11, 2012	amend and recommit to housing, construction and community development
Jun 07, 2012	print number 5900b
Jun 07, 2012	amend (t) and recommit to housing, construction and community development
May 08, 2012	print number 5900a
May 08, 2012	amend and recommit to housing, construction and community development
Jan 04, 2012	referred to housing, construction and community development
Oct 03, 2011	referred to rules

Votes

- Jun 21, 2012 - Rules Committee Vote
  S5900C
  
  Aye
  
  16
  
  Nay
  
  2
  
  Aye with Reservations
  
  6
  
  Absent
  
  0
  
  Excused
  
  1
  
  Abstained
  
  0
  - - Rules Committee Vote: Jun 21, 2012
      
      aye (16)
      
      Breslin
      
      Farley
      
      Fuschillo
      
      Hannon
      
      Johnson
      
      Larkin
      
      Libous
      
      Maziarz
      
      Montgomery
      
      Nozzolio
      
      Perkins
      
      Saland
      
      Sampson
      
      Seward
      
      Skelos
      
      Smith
      
      nay (2)
      
      Hassell-Thompson
      
      Krueger
      
      aye wr (6)
      
      Dilan
      
      Duane
      
      LaValle
      
      Marcellino
      
      Parker
      
      Stewart-Cousins
      
      excused (1)
      
      Alesi

Bill Amendments

2011-S5900 - Details

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

2011-S5900 - Summary

Grants a local real property tax exemption to certain multiple dwellings, in a city having a population of one million or more, for which construction commenced on or after October 1, 1993; expands the property tax exemption for new multiple dwellings and for certain other multiple dwellings.

2011-S5900 - Sponsor Memo

2011-S5900 - Bill Text download pdf

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

                                  5900

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             October 3, 2011
                               ___________

Introduced  by  Sen.  YOUNG  -- 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 restoration of
  tax exemption benefits to high density zoning districts

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

  Section  1.    Subdivision 2 of section 421-a of the real property tax
law is amended by adding a new paragraph (j) to read as follows:
  (J)  ON  AND  AFTER  DECEMBER  THIRTIETH,  TWO  THOUSAND  SEVEN,   THE
PROVISIONS  OF  SUBDIVISION  (C) OF SECTION 11-245 OF THE ADMINISTRATIVE
CODE OF THE CITY OF NEW YORK SHALL NOT BE  APPLICABLE  TO  ANY  MULTIPLE
DWELLING  FOR  WHICH  CONSTRUCTION  COMMENCED ON OR AFTER OCTOBER FIRST,
NINETEEN HUNDRED NINETY-THREE.
  S 2. This act shall take effect immediately and  shall  be  deemed  to
have been in full force and effect on and after December 30, 2007.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13380-01-1

2011-S5900A - Details

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

2011-S5900A - Summary

2011-S5900A - Sponsor Memo

2011-S5900A - Bill Text download pdf

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

                                 5900--A

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             October 3, 2011
                               ___________

Introduced  by  Sen.  YOUNG  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules  --  recommitted  to
  the  Committee  on  Housing, Construction and Community Development in
  accordance with Senate Rule 6, sec. 8 --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

AN ACT to amend the real property tax law, in relation to restoration of
  tax exemption benefits to high density zoning districts

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

  Section  1.    Subdivision 2 of section 421-a of the real property tax
law is amended by adding a new paragraph (j) to read as follows:
  (J) THE PROVISIONS OF SUBDIVISION (C) OF SECTION 11-245 OF THE  ADMIN-
ISTRATIVE  CODE  OF  THE CITY OF NEW YORK SHALL NOT BE APPLICABLE TO ANY
MULTIPLE DWELLING FOR WHICH CONSTRUCTION COMMENCED ON OR  AFTER  OCTOBER
FIRST,  NINETEEN  HUNDRED NINETY-THREE. THE PROVISIONS OF THIS PARAGRAPH
SHALL BE DEEMED TO APPLY AND TO HAVE BEEN IN FULL FORCE  AND  EFFECT  ON
AND AFTER JANUARY FIRST, TWO THOUSAND EIGHT.
  S  2.  This  act  shall take effect immediately and shall be deemed to
have been in full force and effect on and after January 1, 2008.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13380-02-2

2011-S5900B - Details

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

2011-S5900B - Summary

2011-S5900B - Sponsor Memo

2011-S5900B - Bill Text download pdf

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

                                 5900--B

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             October 3, 2011
                               ___________

Introduced  by  Sen.  YOUNG  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules  --  recommitted  to
  the  Committee  on  Housing, Construction and Community Development in
  accordance with Senate Rule 6, sec. 8 --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee --  committee  discharged,  bill  amended,  ordered  reprinted  as
  amended and recommitted to said committee

AN ACT to amend the real property tax law, in relation to restoration of
  tax exemption benefits to high density zoning districts, tax exemption
  benefits  for  new  multiple  dwellings  and  an exemption for certain
  multiple dwellings

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

  Section  1.    Subdivision 2 of section 421-a of the real property tax
law is amended by adding a new paragraph (j) to read as follows:
  (J) THE PROVISIONS OF SUBDIVISION (C) OF SECTION 11-245 OF THE  ADMIN-
ISTRATIVE  CODE  OF  THE CITY OF NEW YORK SHALL NOT BE APPLICABLE TO ANY
MULTIPLE DWELLING FOR WHICH CONSTRUCTION COMMENCED ON OR  AFTER  OCTOBER
FIRST,  NINETEEN  HUNDRED NINETY-THREE. THE PROVISIONS OF THIS PARAGRAPH
SHALL BE DEEMED TO APPLY AND TO HAVE BEEN IN FULL FORCE  AND  EFFECT  ON
AND AFTER DECEMBER THIRTY-FIRST, TWO THOUSAND SEVEN.
  S  2.  Subparagraph  (i)  of paragraph (a) of subdivision 2 of section
421-a of the real property tax law, as amended by section 38 of  part  B
of chapter 97 of the laws of 2011, 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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13380-03-2

S. 5900--B                          2

first, two thousand seven, and June thirtieth, two thousand nine,  shall
have  an additional thirty-six months to complete construction and shall
be eligible for full exemption from taxation for the first  three  years
of  the  period  of  construction;  any  eligible  project that seeks to
utilize the six-year period of construction authorized by  this  section
must  apply for a preliminary certificate of eligibility within one year
of the effective date of the rent act of 2011,  provided,  however  that
such  multiple  dwellings shall be eligible for a maximum of three years
of benefits during the construction period,] 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  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
thirtieth, two thousand nine, shall have an additional thirty-six months
to complete construction and shall be eligible for full  exemption  from
taxation  for  the  first three years of the period of construction; any
eligible  project  that  seeks  to  utilize  the  six-year   period   of
construction  authorized  by  this  section must apply for a preliminary
certificate of eligibility within one year of the effective date of  the
rent  act  of 2011, provided, however that such multiple dwellings shall
be eligible for  a  maximum  of  three  years  of  benefits  during  the
construction period,] 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 construction commenced between January
first, two thousand seven and June
thirtieth, two thousand nine (maximum
three years)]
Following completion of work
Year:

 1                                                100%
 2                                                100
 3                                                 80
 4                                                 80
 5                                                 60

S. 5900--B                          3

 6                                                 60
 7                                                 40
 8                                                 40
 9                                                 20
10                                                 20

  S 3. Clause (A) of subparagraph (ii) of paragraph (a) of subdivision 2
of  section 421-a of the real property tax law, as amended by section 39
of part B of chapter 97 of the laws of  2011,  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,  shall  have  an  additional  thirty-six  months to
complete construction and shall be  eligible  for  full  exemption  from
taxation  for  the  first three years of the period of construction; any
eligible  project  that  seeks  to  utilize  the  six-year   period   of
construction  authorized  by  this  section must apply for a preliminary
certificate of eligibility within one year of the effective date of  the
rent  act  of 2011, provided, however that such multiple dwellings shall
be eligible for  a  maximum  of  three  years  of  benefits  during  the
construction period,] and shall continue to be exempt from such taxation
in  tax years immediately following the taxable status date first occur-
ring 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 fifteen years in the aggre-
gate, 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
thirtieth, two thousand nine, shall have an additional thirty-six months
to  complete  construction and shall be eligible for full exemption from
taxation for the first three years of the period  of  construction;  any
eligible   project   that  seeks  to  utilize  the  six-year  period  of
construction authorized by this section must  apply  for  a  preliminary
certificate  of eligibility within one year of the effective date of the
rent act of 2011, provided, however that such multiple  dwellings  shall
be  eligible  for  a  maximum  of  three  years  of  benefits during the
construction period,] 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. 5900--B                          4

  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 section
40 of part B of chapter 97 of the laws of 2011, 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
first,  two thousand seven, and June thirtieth, two thousand nine, shall
have an additional thirty-six months to complete construction and  shall
be  eligible  for full exemption from taxation for the first three years
of the period of  construction;  any  eligible  project  that  seeks  to
utilize  the  six-year period of construction authorized by this section
must apply for a preliminary certificate of eligibility within one  year
of  the  effective  date of the rent act of 2011, provided, however that
such multiple dwellings shall be eligible for a maximum of  three  years
of  benefits  during  the construction period,] 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 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 mortgage insurance provided by the
rehabilitation mortgage insurance corporation as of May first,  nineteen
hundred  ninety-two  or  is an area receiving funding for a neighborhood
preservation project pursuant to the  neighborhood  reinvestment  corpo-
ration 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
thirtieth, two thousand nine, shall have an additional thirty-six months
to complete construction and shall be eligible for full  exemption  from
taxation  for  the  first three years of the period of construction; any
eligible  project  that  seeks  to  utilize  the  six-year   period   of
construction  authorized  by  this  section must apply for a preliminary
certificate of eligibility within one year of the effective date of  the
rent  act  of 2011, provided, however that such multiple dwellings shall
be eligible for  a  maximum  of  three  years  of  benefits  during  the
construction period,] 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;

S. 5900--B                          5

  e. followed by one year of exemption from twenty percent of such taxa-
tion.
  S  5.  This act shall take effect immediately; except that section one
of this act shall be deemed to have been in full force and effect on and
after December 31, 2007; and provided that with respect to any  applica-
tion for a preliminary certificate of eligibility that is filed no later
than  June 24, 2012, or that is filed for a project that was the subject
of mortgage foreclosure proceedings or other lien enforcement litigation
by a lender on or before June 24, 2012, such project shall be subject to
that portion of the definition of "commence" contained in clause (1)  of
subparagraph (iv) of paragraph (b) of subdivision (a) of section 6-09 of
title twenty-eight of the rules of the city of New York.

2011-S5900C (ACTIVE) - Details

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

2011-S5900C (ACTIVE) - Summary

2011-S5900C (ACTIVE) - Sponsor Memo

2011-S5900C (ACTIVE) - Bill Text download pdf

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

                                 5900--C

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             October 3, 2011
                               ___________

Introduced  by  Sen.  YOUNG  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules  --  recommitted  to
  the  Committee  on  Housing, Construction and Community Development in
  accordance with Senate Rule 6, sec. 8 --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee --  committee  discharged,  bill  amended,  ordered  reprinted  as
  amended  and  recommitted  to  said committee -- committee discharged,
  bill amended, ordered reprinted as amended  and  recommitted  to  said
  committee

AN ACT to amend the real property tax law, in relation to restoration of
  tax exemption benefits to high density zoning districts, tax exemption
  benefits  for  new  multiple  dwellings  and  an exemption for certain
  multiple dwellings

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

  Section  1.    Subdivision 2 of section 421-a of the real property tax
law is amended by adding a new paragraph (j) to read as follows:
  (J) THE PROVISIONS OF SUBDIVISION (C) OF SECTION 11-245 OF THE  ADMIN-
ISTRATIVE  CODE  OF  THE CITY OF NEW YORK SHALL NOT BE APPLICABLE TO ANY
MULTIPLE DWELLING FOR WHICH CONSTRUCTION COMMENCED ON OR  AFTER  OCTOBER
FIRST,  NINETEEN  HUNDRED NINETY-THREE. THE PROVISIONS OF THIS PARAGRAPH
SHALL BE DEEMED TO APPLY AND TO HAVE BEEN IN FULL FORCE  AND  EFFECT  ON
AND AFTER DECEMBER THIRTY-FIRST, TWO THOUSAND SEVEN.
  S  2.  Subparagraph  (i)  of paragraph (a) of subdivision 2 of section
421-a of the real property tax law, as amended by section 38 of  part  B
of chapter 97 of the laws of 2011, 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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13380-04-2

S. 5900--C                          2

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,  shall
have  an additional thirty-six months to complete construction and shall
be eligible for full exemption from taxation for the first  three  years
of  the  period  of  construction;  any  eligible  project that seeks to
utilize the six-year period of construction authorized by  this  section
must  apply for a preliminary certificate of eligibility within one year
of the effective date of the rent act of 2011,  provided,  however  that
such  multiple  dwellings shall be eligible for a maximum of three years
of benefits during the construction period,] 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  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
thirtieth, two thousand nine, shall have an additional thirty-six months
to complete construction and shall be eligible for full  exemption  from
taxation  for  the  first three years of the period of construction; any
eligible  project  that  seeks  to  utilize  the  six-year   period   of
construction  authorized  by  this  section must apply for a preliminary
certificate of eligibility within one year of the effective date of  the
rent  act  of 2011, provided, however that such multiple dwellings shall
be eligible for  a  maximum  of  three  years  of  benefits  during  the
construction period,] 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 construction commenced between January
first, two thousand seven and June
thirtieth, two thousand nine (maximum
three years)]
Following completion of work
Year:

 1                                                100%
 2                                                100
 3                                                 80

S. 5900--C                          3

 4                                                 80
 5                                                 60
 6                                                 60
 7                                                 40
 8                                                 40
 9                                                 20
10                                                 20

  S 3. Clause (A) of subparagraph (ii) of paragraph (a) of subdivision 2
of  section 421-a of the real property tax law, as amended by section 39
of part B of chapter 97 of the laws of  2011,  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,  shall  have  an  additional  thirty-six  months to
complete construction and shall be  eligible  for  full  exemption  from
taxation  for  the  first three years of the period of construction; any
eligible  project  that  seeks  to  utilize  the  six-year   period   of
construction  authorized  by  this  section must apply for a preliminary
certificate of eligibility within one year of the effective date of  the
rent  act  of 2011, provided, however that such multiple dwellings shall
be eligible for  a  maximum  of  three  years  of  benefits  during  the
construction period,] and shall continue to be exempt from such taxation
in  tax years immediately following the taxable status date first occur-
ring 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 fifteen years in the aggre-
gate, 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
thirtieth, two thousand nine, shall have an additional thirty-six months
to  complete  construction and shall be eligible for full exemption from
taxation for the first three years of the period  of  construction;  any
eligible   project   that  seeks  to  utilize  the  six-year  period  of
construction authorized by this section must  apply  for  a  preliminary
certificate  of eligibility within one year of the effective date of the
rent act of 2011, provided, however that such multiple  dwellings  shall
be  eligible  for  a  maximum  of  three  years  of  benefits during the
construction period,] 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;

S. 5900--C                          4

  e. followed by one year of exemption from twenty percent of such taxa-
tion.
  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  section
40  of  part  B of chapter 97 of the laws of 2011, 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
first, two thousand seven, and June thirtieth, two thousand nine,  shall
have  an additional thirty-six months to complete construction and shall
be eligible for full exemption from taxation for the first  three  years
of  the  period  of  construction;  any  eligible  project that seeks to
utilize the six-year period of construction authorized by  this  section
must  apply for a preliminary certificate of eligibility within one year
of the effective date of the rent act of 2011,  provided,  however  that
such  multiple  dwellings shall be eligible for a maximum of three years
of benefits during the construction period,] 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 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 mortgage insurance provided  by  the
rehabilitation  mortgage insurance corporation as of May first, nineteen
hundred ninety-two or is an area receiving funding  for  a  neighborhood
preservation  project  pursuant  to the neighborhood reinvestment corpo-
ration 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
thirtieth, two thousand nine, shall have an additional thirty-six months
to  complete  construction and shall be eligible for full exemption from
taxation for the first three years of the period  of  construction;  any
eligible   project   that  seeks  to  utilize  the  six-year  period  of
construction authorized by this section must  apply  for  a  preliminary
certificate  of eligibility within one year of the effective date of the
rent act of 2011, provided, however that such multiple  dwellings  shall
be  eligible  for  a  maximum  of  three  years  of  benefits during the
construction period,] 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;

S. 5900--C                          5

  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.  This act shall take effect immediately; except that section one
of this act shall be deemed to have been in full force and effect on and
after December 31, 2007; and provided that with respect to any  applica-
tion for a preliminary certificate of eligibility that is filed no later
than  June 24, 2012, or that is filed for a project that was the subject
of mortgage foreclosure proceedings or other lien enforcement litigation
by a lender on or before June 24, 2012, such project shall be subject to
that portion of the definition of "commence" contained in  item  (1)  of
clause  (iv)  of subparagraph (2) of paragraph (b) of subdivision (a) of
section 6-09 of title twenty-eight of the rules of the city of New York.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Find your Senator and share your views on important issues.

Do you support this bill?

Senate Bill S5900C

Sponsored By

Archive: Last Bill Status - In Senate Committee Rules Committee

Actions

Votes

Jun 21, 2012 - Rules Committee Vote

Rules Committee Vote: Jun 21, 2012

Bill Amendments

2011-S5900 - Details

2011-S5900 - Summary

2011-S5900 - Sponsor Memo

2011-S5900 - Bill Text download pdf

2011-S5900A - Details

2011-S5900A - Summary

2011-S5900A - Sponsor Memo

2011-S5900A - Bill Text download pdf

2011-S5900B - Details

2011-S5900B - Summary

2011-S5900B - Sponsor Memo

2011-S5900B - Bill Text download pdf

2011-S5900C (ACTIVE) - Details

2011-S5900C (ACTIVE) - Summary

2011-S5900C (ACTIVE) - Sponsor Memo

2011-S5900C (ACTIVE) - Bill Text download pdf

Comments

Do you support this bill?

Get Status Alerts for 2011-S5900C

Senate Bill S5900C

Share this bill

Sponsored By

Catharine Young

Archive: Last Bill Status - In Senate Committee Rules Committee

Actions

Votes

Bill Amendments

2011-S5900 - Details

2011-S5900 - Summary

2011-S5900 - Sponsor Memo

2011-S5900 - Bill Text download pdf

2011-S5900A - Details

2011-S5900A - Summary

2011-S5900A - Sponsor Memo

2011-S5900A - Bill Text download pdf

2011-S5900B - Details

2011-S5900B - Summary

2011-S5900B - Sponsor Memo

2011-S5900B - Bill Text download pdf

2011-S5900C (ACTIVE) - Details

2011-S5900C (ACTIVE) - Summary

2011-S5900C (ACTIVE) - Sponsor Memo

2011-S5900C (ACTIVE) - Bill Text download pdf

Comments