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Assembly Bill A7494C

2011-2012 Legislative Session

Establishes assessments for the value of lands that may be used for prospective natural gas or oil development activities

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Archive: Last Bill Status - In Senate Committee Local Government Committee

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Bill Amendments

2011-A7494 - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add §582-b, RPT L

2011-A7494 - Summary

Establishes assessments for the value of lands that may be used for prospective natural gas or oil development activities.

2011-A7494 - Bill Text download pdf 

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

                                  7494

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               May 6, 2011
                               ___________

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

AN ACT to amend the real property tax law, in relation to the  valuation
  of prospective mineral rights development activities

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

  Section 1. The real property tax  law  is  amended  by  adding  a  new
section 583-a to read as follows:
  S  583-A.  VALUATION  OF PROSPECTIVE MINERAL RIGHTS DEVELOPMENT ACTIV-
ITIES. NOTWITHSTANDING ANY OTHER PROVISION  OF  LAW  OR  MINERAL  RIGHTS
LEASE,  REAL PROPERTY OWNED OR LEASED THAT MAY HOLD VALUE AS A RESULT OF
MINERAL RIGHTS DEVELOPMENT ACTIVITIES, INCLUDING, BUT  NOT  LIMITED  TO,
NATURAL  GAS  OR  OIL DEVELOPMENT, SHALL BE ASSESSED FOR THE PURPOSES OF
THIS CHAPTER AT A SUM SOLELY REFLECTING THE CURRENT USE OF  SUCH  LANDS,
NOT  INCLUDING THE UNDEVELOPED MINERAL RIGHTS, AND SHALL NOT BE ASSESSED
A VALUE THAT REFLECTS THE UNDEVELOPED MINERAL RIGHTS APPERTAINING TO THE
REAL PROPERTY.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10960-01-1

2011-A7494A - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add §582-b, RPT L

2011-A7494A - Summary

Establishes assessments for the value of lands that may be used for prospective natural gas or oil development activities.

2011-A7494A - Bill Text download pdf 

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

                                 7494--A

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               May 6, 2011
                               ___________

Introduced  by M. of A. LUPARDO -- read once and referred to the Commit-
  tee on Real Property Taxation -- 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 establishing
  assessments for the value of lands that may be used for mineral rights
  development activities

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

  Section  1.  The  real  property  tax  law  is amended by adding a new
section 582-b to read as follows:
  S 582-B.  VALUATION OF PROSPECTIVE MINERAL RIGHTS  DEVELOPMENT  ACTIV-
ITIES.    NOTWITHSTANDING  ANY  OTHER PROVISION OF LAW OR MINERAL RIGHTS
LEASE, REAL PROPERTY OWNED OR LEASED THAT MAY HOLD VALUE AS A RESULT  OF
MINERAL  RIGHTS  DEVELOPMENT  ACTIVITIES, INCLUDING, BUT NOT LIMITED TO,
NATURAL GAS OR OIL DEVELOPMENT, SHALL BE ASSESSED FOR  THE  PURPOSES  OF
THIS  CHAPTER  AT A SUM SOLELY REFLECTING THE CURRENT USE OF SUCH LANDS,
NOT INCLUDING THE UNDEVELOPED MINERAL RIGHTS, AND SHALL NOT BE  ASSESSED
A VALUE THAT REFLECTS THE UNDEVELOPED MINERAL RIGHTS APPERTAINING TO THE
REAL PROPERTY.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10960-02-1

co-Sponsors

multi-Sponsors

2011-A7494B - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add §582-b, RPT L

2011-A7494B - Summary

Establishes assessments for the value of lands that may be used for prospective natural gas or oil development activities.

2011-A7494B - Bill Text download pdf 

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

                                 7494--B

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               May 6, 2011
                               ___________

Introduced  by M. of A. LUPARDO -- read once and referred to the Commit-
  tee on Real Property Taxation -- committee discharged,  bill  amended,
  ordered  reprinted  as  amended  and  recommitted to said committee --
  again reported from said committee with amendments, ordered  reprinted
  as amended and recommitted to said committee

AN  ACT  to amend the real property tax law, in relation to establishing
  assessments for the value of lands that may be  used  for  prospective
  natural gas or oil development activities

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

  Section 1. The real property tax  law  is  amended  by  adding  a  new
section 582-b to read as follows:
  S  582-B.  VALUATION  OF  PROSPECTIVE  NATURAL  GAS OR OIL DEVELOPMENT
ACTIVITIES. WHERE OIL AND  GAS  RIGHTS  IN  LAND  HAVE  BEEN  LEASED  OR
CONVEYED,  SUCH  LAND  SHALL NOT BE SUBJECT TO AN INCREASE IN ASSESSMENT
SOLELY BECAUSE OF SUCH LEASE OR  CONVEYANCE.  NOTHING  IN  THIS  SECTION
SHALL  PROHIBIT  AN  ASSESSMENT  INCREASE  DUE TO OIL AND GAS EXTRACTION
PURSUANT TO TITLE FIVE OF THIS ARTICLE.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10960-04-1

co-Sponsors

multi-Sponsors

2011-A7494C (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add §582-b, RPT L

2011-A7494C (ACTIVE) - Summary

Establishes assessments for the value of lands that may be used for prospective natural gas or oil development activities.

2011-A7494C (ACTIVE) - Bill Text download pdf 

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

                                 7494--C

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               May 6, 2011
                               ___________

Introduced  by M. of A. LUPARDO, REILLY, CROUCH -- Multi-Sponsored by --
  M. of A.  AMEDORE, GOTTFRIED -- read once and referred to the  Commit-
  tee  on  Real Property Taxation -- committee discharged, bill amended,
  ordered reprinted as amended and  recommitted  to  said  committee  --
  again  reported from said committee with amendments, ordered reprinted
  as amended and recommitted to said committee -- reported and  referred
  to  the  Committee  on  Ways  and  Means -- 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 establishing
  assessments for the value of lands that may be  used  for  prospective
  natural gas or oil development activities

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

  Section 1. The real property tax  law  is  amended  by  adding  a  new
section 582-b to read as follows:
  S  582-B.  VALUATION  OF  PROSPECTIVE  NATURAL  GAS OR OIL DEVELOPMENT
ACTIVITIES. WHERE OIL AND GAS RIGHTS IN LAND HAVE  NOT  BEEN  LEASED  OR
CONVEYED,  SUCH  LAND  SHALL NOT BE SUBJECT TO AN INCREASE IN ASSESSMENT
SOLELY BECAUSE OF SUCH LEASES OR CONVEYANCES ON OTHER  LIKE  PROPERTIES.
NOTHING IN THIS SECTION SHALL PROHIBIT AN ASSESSMENT INCREASE DUE TO OIL
AND GAS EXTRACTION PURSUANT TO TITLE FIVE OF THIS ARTICLE.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10960-05-1

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