Senate Bill S4857

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

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

co-Sponsors

2011-S4857 - Details

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

2011-S4857 - Summary

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

2011-S4857 - Sponsor Memo

2011-S4857 - Bill Text download pdf 

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

                                  4857

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             April 27, 2011
                               ___________

Introduced  by  Sen.  O'MARA -- 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  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.
                                                           LBD11005-01-1

co-Sponsors

2011-S4857A (ACTIVE) - Details

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

2011-S4857A (ACTIVE) - Summary

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

2011-S4857A (ACTIVE) - Sponsor Memo

2011-S4857A (ACTIVE) - Bill Text download pdf 

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

                                 4857--A
    Cal. No. 874

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             April 27, 2011
                               ___________

Introduced  by  Sens.  O'MARA, LIBOUS -- read twice and ordered printed,
  and when printed to be committed to the Committee on Local  Government
  -- reported favorably from said committee, ordered to first and second
  report,  ordered  to  a  third reading, amended and ordered reprinted,
  retaining its place in the order of third reading

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.
                                                           LBD11005-03-1

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