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Assembly Bill A2696

2011-2012 Legislative Session

Exempts new multiple dwellings from local taxation

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Archive: Last Bill Status - In Assembly Committee

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2011-A2696 (ACTIVE) - Details

See Senate Version of this Bill:
S2894
Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง421-a, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: S1819
2015-2016: S3753

2011-A2696 (ACTIVE) - Summary

Exempts new multiple dwellings from local taxation; extends period until June 15, 2011.

2011-A2696 (ACTIVE) - Bill Text download pdf 

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

                                  2696

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 20, 2011
                               ___________

Introduced by M. of A. V. LOPEZ -- read once and referred to the Commit-
  tee on Real Property Taxation

AN  ACT to amend the real property tax law, in relation to exemptions of
  new multiple dwellings from local taxation

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

  Section  1.  The opening paragraph of item (A) of subparagraph (iv) of
paragraph (a) of subdivision 2 of section 421-a of the real property tax
law, as amended by chapter 618 of the laws of 2007, is amended  to  read
as follows:
  Unless excluded by local law, in the city of New York, the benefits of
this subparagraph shall be available in the borough of Manhattan for new
multiple  dwellings  on tax lots now existing or hereafter created south
of or adjacent to either side of one hundred tenth street which commence
construction after July first, nineteen hundred  ninety-two  and  before
[December  twenty-eighth] JUNE FIFTEENTH, two thousand [ten] ELEVEN only
if:
  S 2. Subparagraph (ii) of paragraph (c) of subdivision  2  of  section
421-a  of  the  real  property tax law, as amended by chapter 618 of the
laws of 2007, is amended to read as follows:
  (ii) construction is commenced after January first,  nineteen  hundred
seventy-five  and  before  [December  twenty-eighth] JUNE FIFTEENTH, two
thousand [ten] ELEVEN provided, however, that such  commencement  period
shall  not  apply  to  multiple  dwellings  eligible  for benefits under
subparagraph (iv) of paragraph (a) of this subdivision;
  S 3. This act shall take effect immediately and  shall  be  deemed  to
have been in full force and effect on and after December 28, 2010.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07027-02-1

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