senate Bill S6817A

2011-2012 Legislative Session

Provides that a private third party may contract with a property owner to pay real property taxes in exchange for transfer of liens on the property to the transferee

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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

view actions (8)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 12, 2012 print number 6817c
amend and recommit to finance
Jun 04, 2012 print number 6817b
amend and recommit to finance
May 02, 2012 reported and committed to finance
Apr 11, 2012 print number 6817a
amend (t) and recommit to local government
Mar 26, 2012 referred to local government

Votes

view votes

May 2, 2012 - Local Government committee Vote

S6817A
5
0
committee
5
Aye
0
Nay
3
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Local Government committee vote details

Local Government Committee Vote: May 2, 2012

Bill Amendments

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

Co-Sponsors

S6817 - Details

See Assembly Version of this Bill:
A9990
Current Committee:
Law Section:
Insurance Law
Laws Affected:
Add Art 9 Title 4-B §§977 - 977-g, RPT L; amd §§6403 & 6406, Ins L

S6817 - Summary

Provides that a private third party may contract with a property owner to pay real property taxes in exchange for transfer of liens on the property to the transferee.

S6817 - Sponsor Memo

S6817 - Bill Text download pdf

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

                                  6817

                            I N  S E N A T E

                             March 26, 2012
                               ___________

Introduced  by  Sen. MAZIARZ -- 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 local  govern-
  ment liens and payment contracts

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

  Section 1.  Legislative  intent.  The  legislature  finds  that  local
governments  are struggling under the weight of increased costs, reduced
revenues and increased stresses on their respective budgets. The  legis-
lature  also  finds that property owners are struggling under the weight
of high property taxes and other local government assessments  and  need
assistance  in  paying  those amounts in order to prevent foreclosure or
the sale of the liens to third parties  involuntarily.  The  legislature
finds  that it is in the best interests of the residents of the state of
New York and the local governments to allow property owners to voluntar-
ily enter into agreements with  private  entities  whereby  the  private
parties  assume  the  position  of the local governments for assessments
such as property taxes and water and sewer charges. Currently,  property
owners  are required to pay these assessments in full. Allowing property
owners to increase the payment term will help alleviate the pressure  on
these already financially stressed residents and business owners.  More-
over,  local  governments  will  increase  their revenue collections and
spend less on actions such as tax lien sales and  lien  foreclosures  to
collect  unpaid liens, because the lien payors will pay the liens to the
local governments in full, all at once.
  S 2. Article 9 of the real property tax law is amended by adding a new
title 4-B to read as follows:
                                 TITLE 4-B
                         LIEN PAYMENT CONTRACTS
SECTION 977. DEFINITIONS.
        977-A. LIEN TRANSFER.
        977-B. LIEN TRANSFER AUTHORIZATION.
        977-C. LIEN TRANSFER CERTIFICATE.
        977-D. LIEN PAYMENT CONTRACT.

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

Co-Sponsors

S6817A - Details

See Assembly Version of this Bill:
A9990
Current Committee:
Law Section:
Insurance Law
Laws Affected:
Add Art 9 Title 4-B §§977 - 977-g, RPT L; amd §§6403 & 6406, Ins L

S6817A - Summary

Provides that a private third party may contract with a property owner to pay real property taxes in exchange for transfer of liens on the property to the transferee.

S6817A - Sponsor Memo

S6817A - Bill Text download pdf

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

                                 6817--A

                            I N  S E N A T E

                             March 26, 2012
                               ___________

Introduced by Sens. MAZIARZ, NOZZOLIO -- read twice and ordered printed,
  and  when printed to be committed to the Committee on Local Government
  -- committee discharged, bill amended, ordered  reprinted  as  amended
  and recommitted to said committee

AN  ACT  to  amend  the  insurance law and the real property tax law, in
  relation to local government liens and payment contracts

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

  Section  1.  Legislative  intent.  The  legislature  finds  that local
governments are struggling under the weight of increased costs,  reduced
revenues  and increased stresses on their respective budgets. The legis-
lature also finds that property owners are struggling under  the  weight
of  high  property taxes and other local government assessments and need
assistance in paying those amounts in order to  prevent  foreclosure  or
the  sale  of  the liens to third parties involuntarily. The legislature
finds that it is in the best interests of the residents of the state  of
New York and the local governments to allow property owners to voluntar-
ily  enter  into  agreements  with  private entities whereby the private
parties assume the position of the  local  governments  for  assessments
such  as property taxes and water and sewer charges. Currently, property
owners are required to pay these assessments in full. Allowing  property
owners  to increase the payment term will help alleviate the pressure on
these already financially stressed residents and business owners.  More-
over, local governments will  increase  their  revenue  collections  and
spend  less  on  actions such as tax lien sales and lien foreclosures to
collect unpaid liens, because the lien payors will pay the liens to  the
local governments in full, all at once.
  S  2.  Paragraph  5 of subsection (b) of section 6403 of the insurance
law is amended to read as follows:
  (5) To invest in or acquire for resale, (i) obligations secured  by  a
mortgage  (including any part of an issue of such obligations) which are
insured or committed to be insured by the Federal Housing Administrator,
or (ii) debentures lawfully issued by the Federal Housing Administrator,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15093-02-2

Co-Sponsors

S6817B - Details

See Assembly Version of this Bill:
A9990
Current Committee:
Law Section:
Insurance Law
Laws Affected:
Add Art 9 Title 4-B §§977 - 977-g, RPT L; amd §§6403 & 6406, Ins L

S6817B - Summary

Provides that a private third party may contract with a property owner to pay real property taxes in exchange for transfer of liens on the property to the transferee.

S6817B - Sponsor Memo

S6817B - Bill Text download pdf

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

                                 6817--B

                            I N  S E N A T E

                             March 26, 2012
                               ___________

Introduced  by Sens. MAZIARZ, NOZZOLIO, PARKER -- read twice and ordered
  printed, and when printed to be committed to the  Committee  on  Local
  Government -- committee discharged, bill amended, ordered reprinted as
  amended  and  recommitted to said committee -- reported favorably from
  said committee and committed to the Committee on Finance --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN  ACT  to  amend  the  insurance law and the real property tax law, in
  relation to local government liens and payment contracts

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

  Section  1.  Legislative  intent.  The  legislature  finds  that local
governments are struggling under the weight of increased costs,  reduced
revenues  and increased stresses on their respective budgets. The legis-
lature also finds that property owners are struggling under  the  weight
of  high  property taxes and other local government assessments and need
assistance in paying those amounts in order to  prevent  foreclosure  or
the  sale  of  the liens to third parties involuntarily. The legislature
finds that it is in the best interests of the residents of the state  of
New York and the local governments to allow property owners to voluntar-
ily  enter  into  agreements  with  private entities whereby the private
parties assume the position of the  local  governments  for  assessments
such  as property taxes and water and sewer charges. Currently, property
owners are required to pay these assessments in full. Allowing  property
owners  to increase the payment term will help alleviate the pressure on
these already financially stressed residents and business owners.  More-
over, local governments will  increase  their  revenue  collections  and
spend  less  on  actions such as tax lien sales and lien foreclosures to
collect unpaid liens, because the lien payors will pay the liens to  the
local governments in full, all at once.
  S  2.  Paragraph  5 of subsection (b) of section 6403 of the insurance
law is amended to read as follows:
  (5) To invest in or acquire for resale, (i) obligations secured  by  a
mortgage  (including any part of an issue of such obligations) which are

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

Co-Sponsors

S6817C (ACTIVE) - Details

See Assembly Version of this Bill:
A9990
Current Committee:
Law Section:
Insurance Law
Laws Affected:
Add Art 9 Title 4-B §§977 - 977-g, RPT L; amd §§6403 & 6406, Ins L

S6817C (ACTIVE) - Summary

Provides that a private third party may contract with a property owner to pay real property taxes in exchange for transfer of liens on the property to the transferee.

S6817C (ACTIVE) - Sponsor Memo

S6817C (ACTIVE) - Bill Text download pdf

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

                                 6817--C

                            I N  S E N A T E

                             March 26, 2012
                               ___________

Introduced  by Sens. MAZIARZ, NOZZOLIO, PARKER -- read twice and ordered
  printed, and when printed to be committed to the  Committee  on  Local
  Government -- committee discharged, bill amended, ordered reprinted as
  amended  and  recommitted to said committee -- reported favorably from
  said committee and committed to the Committee on Finance --  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 insurance law and the  real  property  tax  law,  in
  relation to local government liens and payment contracts

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

  Section 1.  Legislative  intent.  The  legislature  finds  that  local
governments  are struggling under the weight of increased costs, reduced
revenues and increased stresses on their respective budgets. The  legis-
lature  also  finds that property owners are struggling under the weight
of high property taxes and other local government assessments  and  need
assistance  in  paying  those amounts in order to prevent foreclosure or
the sale of the liens to third parties  involuntarily.  The  legislature
finds  that it is in the best interests of the residents of the state of
New York and the local governments to allow property owners to voluntar-
ily enter into agreements with  private  entities  whereby  the  private
parties  assume  the  position  of the local governments for assessments
such as property taxes and water and sewer charges. Currently,  property
owners  are required to pay these assessments in full. Allowing property
owners to increase the payment term will help alleviate the pressure  on
these already financially stressed residents and business owners.  More-
over,  local  governments  will  increase  their revenue collections and
spend less on actions such as tax lien sales and  lien  foreclosures  to
collect  unpaid liens, because the lien payors will pay the liens to the
local governments in full, all at once.
  S 2. Paragraph 5 of subsection (b) of section 6403  of  the  insurance
law is amended to read as follows:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15093-06-2

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