S T A T E O F N E W Y O R K
________________________________________________________________________
S. 3715 A. 5817
2011-2012 Regular Sessions
S E N A T E - A S S E M B L Y
March 2, 2011
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IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print-
ed, and when printed to be committed to the Committee on Local Govern-
ment
IN ASSEMBLY -- Introduced by M. of A. LOSQUADRO -- read once and
referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to the real prop-
erty tax exemption for industrial development agencies
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 1 of section 412-a of the real property tax
law, as amended by chapter 372 of the laws of 1991, is amended to read
as follows:
1. Real property owned by or under the jurisdiction, supervision or
control of industrial development agencies enumerated in the general
municipal law shall be entitled to such exemption as may be provided
therein, EXCEPT FOR FIRE DISTRICTS, FIRE PROTECTION DISTRICTS AND AMBU-
LANCE DISTRICTS.
S 2. This act shall take effect immediately and shall apply to assess-
ment rolls prepared on the basis of taxable status dates occurring on or
after such date, but shall not apply to projects for which an agency,
through the issuance of its bonds, execution of leases or the passage of
an inducement resolution or bond resolution, has authorized any assist-
ance prior to the date on which this act shall become law, whether or
not such projects are thereafter modified.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06531-01-1