senate Bill S6522B

Signed By Governor
2011-2012 Legislative Session

Relates to the definition of private transfer fee obligations

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Archive: Last Bill Status Via A9390 - Signed by Governor


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Aug 17, 2012 signed chap.386
Aug 06, 2012 delivered to governor
Jun 20, 2012 returned to assembly
passed senate
3rd reading cal.985
substituted for s6522b
Jun 20, 2012 substituted by a9390b
Jun 05, 2012 advanced to third reading
Jun 04, 2012 2nd report cal.
May 31, 2012 1st report cal.985
Apr 04, 2012 print number 6522b
amend and recommit to judiciary
Mar 08, 2012 print number 6522a
amend and recommit to judiciary
Feb 21, 2012 referred to judiciary

Votes

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Bill Amendments

Original
A
B (Active)
Original
A
B (Active)

S6522 - Bill Details

See Assembly Version of this Bill:
A9390B
Law Section:
Real Property Law
Laws Affected:
Amd §§472 & 473, RP L

S6522 - Bill Texts

view summary

Relates to the definition of private transfer fee obligations.

view sponsor memo
BILL NUMBER:S6522

TITLE OF BILL:
An act
to amend the real property law, in relation to definitions of private
transfer fee obligations

PURPOSE OR GENERAL IDEA OF BILL:
The purpose of
this bill is to make technical amendments to Chapter 522 of the Laws
of 2011 to ensure proper implementation of the intent the law.

SUMMARY OF SPECIFIC PROVISIONS:
The bill would add language conforming
to regulations in the private housing finance law to the "private
transfer fee obligation act."

JUSTIFICATION:
Profit sharing occurs when government
housing departments create affordable housing cooperatives, and
therefore shares a portion of the tax on re-sales of the units within
these cooperatives.
This language includes the entities left out of the original language
that do not technically qualify as covenant as previously defined in
the bill.

PRIOR LEGISLATIVE HISTORY:
New bill.

FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None.

EFFECTIVE DATE:
This bill has an immediate effective date.

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

                                  6522

                            I N  S E N A T E

                            February 21, 2012
                               ___________

Introduced  by  Sen.  LIBOUS -- read twice and ordered printed, and when
  printed to be committed to the Committee on Judiciary

AN ACT to amend the real property law, in  relation  to  definitions  of
  private transfer fee obligations

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

  Section 1. Subdivision 2 of section 472 of the real  property  law  is
amended  by  adding  three  new  paragraphs  (j), (k) and (l) to read as
follows:
  (J) ANY FEE, CHARGE OR ASSESSMENT  PAYABLE  BY  THE  TRANSFEREE  TO  A
CORPORATION OR COMPANY FORMED PURSUANT TO THE PRIVATE HOUSING LAW.
  (K)  ANY  FEE,  CHARGE  OR  ASSESSMENT  PAYABLE BY THE TRANSFEREE TO A
CORPORATION OR COMPANY THAT HAS RECEIVED A LOAN OR SUBSIDY  PURSUANT  TO
THE PRIVATE HOUSING FINANCE LAW OR GENERAL MUNICIPAL LAW.
  (L) ANY AMOUNTS PAYABLE TO A GOVERNMENT ENTITY.
  S 2. Paragraph (g) of subdivision 2 of section 472 of the real proper-
ty  law, as added by chapter 522 of the laws of 2011, is amended to read
as follows:
  (g) Any fee, charge, assessment, fine, or other amount  payable  to  a
homeowners',  condominium, cooperative, mobile home, or property owners'
association pursuant to  a  declaration  [or],  covenant,  DULY  ADOPTED
BY-LAW, PROPRIETARY LEASE or law applicable to such association, includ-
ing, but not limited to, fees or charges payable for estoppel letters or
certificates  issued  by  the  association  or  its authorized agent. No
amount shall be paid to a homeowners', condominium, cooperative,  mobile
home,  or  property owners' association for the payment to the declarant
of the condominium or the creator of a homeowners', cooperative,  mobile
home or property owners' association, or their designee.
  S 3. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14661-01-2

S6522A - Bill Details

See Assembly Version of this Bill:
A9390B
Law Section:
Real Property Law
Laws Affected:
Amd §§472 & 473, RP L

S6522A - Bill Texts

view summary

Relates to the definition of private transfer fee obligations.

view sponsor memo
BILL NUMBER:S6522A

TITLE OF BILL:
An act
to amend the real property law, in relation to definitions of private
transfer fee obligations

PURPOSE OR GENERAL IDEA OF BILL:
The purpose of this bill is to make
technical amendments to Chapter 522 of the Laws of 2011 to ensure
proper implementation of the intent the law.

SUMMARY OF SPECIFIC PROVISIONS:
The bill would add language conforming
to regulations in the private housing finance law to the "private
transfer fee obligation act."

JUSTIFICATION:
Profit sharing occurs when government housing
departments create affordable housing cooperatives, and therefore
shares a portion of the tax on re-sales of the units within these
cooperatives. This language includes the entities left out of the
original language that do not technically qualify as covenant as
previously defined in the bill.

PRIOR LEGISLATIVE HISTORY:
New bill.

FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None.

EFFECTIVE DATE:
This bill shall be deemed to have been in full force
and effect on and after September 23, 2011.

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

                                 6522--A

                            I N  S E N A T E

                            February 21, 2012
                               ___________

Introduced  by  Sen.  LIBOUS -- read twice and ordered printed, and when
  printed to be committed to the Committee  on  Judiciary  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN  ACT  to  amend  the real property law, in relation to definitions of
  private transfer fee obligations

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

  Section  1.  Subdivision  2 of section 472 of the real property law is
amended by adding three new paragraphs (j),  (k)  and  (l)  to  read  as
follows:
  (J)  ANY  FEE,  CHARGE  OR  ASSESSMENT  PAYABLE BY THE TRANSFEREE TO A
CORPORATION OR COMPANY FORMED PURSUANT TO THE  PRIVATE  HOUSING  FINANCE
LAW.
  (K)  ANY  FEE,  CHARGE  OR  ASSESSMENT  PAYABLE BY THE TRANSFEREE TO A
CORPORATION OR COMPANY THAT HAS RECEIVED A LOAN OR SUBSIDY  PURSUANT  TO
THE PRIVATE HOUSING FINANCE LAW OR GENERAL MUNICIPAL LAW.
  (L) ANY AMOUNTS PAYABLE TO A GOVERNMENT ENTITY.
  S 2. Paragraph (g) of subdivision 2 of section 472 of the real proper-
ty  law, as added by chapter 522 of the laws of 2011, is amended to read
as follows:
  (g) Any fee, charge, assessment, fine, or other amount  payable  to  a
homeowners',  condominium, cooperative, mobile home, or property owners'
association pursuant to  a  declaration  [or],  covenant,  DULY  ADOPTED
BY-LAW, PROPRIETARY LEASE or law applicable to such association, includ-
ing, but not limited to, fees or charges payable for estoppel letters or
certificates  issued  by  the  association  or  its authorized agent. No
amount shall be paid to a homeowners', condominium, cooperative,  mobile
home,  or  property owners' association for the payment to the declarant
of the condominium or the creator of a homeowners', cooperative,  mobile
home or property owners' association, or their designee.
  S  3.  This  act  shall take effect immediately and shall be deemed to
have been in full force and effect on and after September 23, 2011.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14661-03-2

S6522B (ACTIVE) - Bill Details

See Assembly Version of this Bill:
A9390B
Law Section:
Real Property Law
Laws Affected:
Amd §§472 & 473, RP L

S6522B (ACTIVE) - Bill Texts

view summary

Relates to the definition of private transfer fee obligations.

view sponsor memo
BILL NUMBER:S6522B

TITLE OF BILL:
An act
to amend the real property law, in relation to definitions of private
transfer fee obligations

PURPOSE OR GENERAL IDEA OF BILL:
The purpose of this bill is to make technical amendments to Chapter
522 of the Laws of 2011 to ensure proper implementation of the intent
the law.

SUMMARY OF SPECIFIC PROVISIONS:
The bill would add language conforming to regulations in the private
housing finance law to the "private transfer fee obligation act."

JUSTIFICATION:
Profit sharing occurs when government housing departments create
affordable housing cooperatives, and therefore shares a portion of
the tax on re-sales of the units within these cooperatives. This
language includes the entities left out of the original language that
do not technically qualify as covenant as previously defined in the
bill.

PRIOR LEGISLATIVE HISTORY:
New bill.

FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None.

EFFECTIVE DATE:
This bill shall be deemed to have been in full force and effect on and
after September 23, 2011.

view full text
download pdf
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 6522--B

                            I N  S E N A T E

                            February 21, 2012
                               ___________

Introduced  by  Sen.  LIBOUS -- read twice and ordered printed, and when
  printed to be committed to the Committee  on  Judiciary  --  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 law, in  relation  to  definitions  of
  private transfer fee obligations

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

  Section 1. Subdivision 2 of section 472 of the real  property  law  is
amended  by  adding  three  new  paragraphs  (j), (k) and (l) to read as
follows:
  (J) ANY FEE, CHARGE OR ASSESSMENT  PAYABLE  BY  THE  TRANSFEREE  TO  A
CORPORATION  OR  COMPANY  FORMED PURSUANT TO THE PRIVATE HOUSING FINANCE
LAW.
  (K) ANY FEE, CHARGE OR ASSESSMENT  PAYABLE  BY  THE  TRANSFEREE  TO  A
CORPORATION  OR  COMPANY THAT HAS RECEIVED A LOAN OR SUBSIDY PURSUANT TO
THE PRIVATE HOUSING FINANCE LAW OR GENERAL MUNICIPAL LAW.
  (L) ANY AMOUNTS PAYABLE TO A GOVERNMENT ENTITY.
  S 2. Paragraph (g) of subdivision 2 of section 472 of the real proper-
ty law, as added by chapter 522 of the laws of 2011, is amended to  read
as follows:
  (g)  Any  fee,  charge, assessment, fine, or other amount payable to a
homeowners', condominium, cooperative, mobile home, or property  owners'
association  pursuant  to  a  declaration  [or],  covenant, DULY ADOPTED
BY-LAW, PROPRIETARY LEASE or law applicable to such association, includ-
ing, but not limited to, fees or charges payable for estoppel letters or
certificates issued by the  association  or  its  authorized  agent.  No
amount  shall be paid to a homeowners', condominium, cooperative, mobile
home, or property owners' association for the payment to  the  declarant
of  the condominium or the creator of a homeowners', cooperative, mobile
home or property owners' association, or their designee.
  S 3. Section 473 of the real property law, as added by chapter 522  of
the laws of 2011, is amended to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14661-05-2

S. 6522--B                          2

  S  473.  Prohibition.  A  private  transfer fee obligation recorded or
entered into in this state on  or  after  the  effective  date  of  this
section  does not run with the land and is not binding on or enforceable
at law or in equity against any owner, purchaser, or  mortgagee  of  any
interest  in  real  property as an equitable servitude or otherwise. Any
private transfer fee obligation that is recorded or entered into in this
state on or after the effective date of this section is void  and  unen-
forceable.  This section shall not apply to a private transfer fee obli-
gation recorded or entered into prior to  the  effective  date  of  this
section.  This  section  shall  not  be deemed to require that a private
transfer fee obligation recorded, filed or entered into  in  this  state
before the effective date of this section is presumed valid and enforce-
able. It is the public policy of this state that no private transfer fee
obligation shall be valid or enforceable whenever entered into, recorded
or  filed.  Furthermore,  this  article  shall  not validate any private
transfer fee agreement that is contrary to the [laws] LAW of this state.
  S 4. This act shall take effect immediately and  shall  be  deemed  to
have been in full force and effect on and after September 23, 2011.

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