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
                               ___________
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