|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 04, 2012||referred to local government|
|Jan 05, 2011||referred to local government|
senate Bill S799
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S799 - Details
S799 - Summary
Provides that the lease or conveyance of oil and gas rights shall not, without other evidence of value, such as actual land sale prices, constitute grounds for increasing assessments.
S799 - Sponsor Memo
BILL NUMBER:S799 TITLE OF BILL: An act to amend the real property tax law, in relation to the lease or conveyance of oil and gas rights in lands and grounds for increasing assessments PURPOSE OR GENERAL IDEA OF BILL: The purpose of this legislation is to codify a recent directive issued by the Office of Real Property Tax Services sent to local assessors advising that oil and gas leases signed by property owners should not be included in land values for purposes of real property assessments. SUMMARY OF SPECIFIC PROVISIONS: Section 1: Subdivision 2 of section 596 of the real property tax law is amended. Section 2: Effective date. JUSTIFICATION: According to the Office of Real Property Tax Services (ORPS), there are several reasons why local assessors should not include oil and gas leases signed by landowners when assessing real property.
S799 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 799 2011-2012 Regular Sessions I N S E N A T E (PREFILED) January 5, 2011 ___________ Introduced by Sens. YOUNG, MAZIARZ, RANZENHOFER -- 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 the lease or conveyance of oil and gas rights in lands and grounds for increasing assessments THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 2 of section 596 of the real property tax law, as added by chapter 846 of the laws of 1981, is amended to read as follows: 2. Prior to production, a lease or other conveyance of oil and gas rights in land which is otherwise entitled to an exemption from taxa- tion, in whole or in part, shall not be considered dispositive by the assessor in determining whether that land is used exclusively for an exempt purpose. A LEASE OR OTHER CONVEYANCE OF OIL AND GAS RIGHTS SHALL NOT, WITHOUT OTHER EVIDENCE OF VALUE, SUCH AS ACTUAL LAND SALE PRICES, CONSTITUTE GROUNDS TO INCREASE AN ASSESSMENT. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02686-01-1
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