| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jan 08, 2014 |
referred to local government |
| Jan 09, 2013 |
referred to local government |
Senate Bill S716
2013-2014 Legislative Session
Sponsored By
(R, IP) Senate District
Archive: Last Bill Status - In Senate Committee Local Government Committee
Actions
co-Sponsors
(R, C, IP) Senate District
2013-S716 (ACTIVE) - Details
2013-S716 (ACTIVE) - Sponsor Memo
BILL NUMBER:S716
TITLE OF BILL:
An act
to amend the real property tax law, in relation to establishing a
reduction in the assessed value of lands burdened by certain
conservation easements
PURPOSE:
This bill requires that when a property owner grants a
conservation easement to a not-for-profit corporation that the
grantor's property be assessed to reflect the grant.
SUMMARY OF SPECIFIC PROVISIONS:
Adds new section RPTL § 533-A.
Requires a reassessment of the value of property after the owner of
the property grants a conservation easement to a not-for-profit
corporation.
JUSTIFICATION:
The granting of a conservation easement to a
not-for-profit corporation can have a significant impact on the
assessed value of the property to which the easement applies. This
bill would assure that an assessment reflecting that change in value
be required after such an easement is granted.
2013-S716 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
716
2013-2014 Regular Sessions
I N S E N A T E
(PREFILED)
January 9, 2013
___________
Introduced by Sens. GRISANTI, MARCELLINO -- 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 a
reduction in the assessed value of lands burdened by certain conserva-
tion easements
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 533-a to read as follows:
S 533-A. ASSESSMENT OF CONSERVATION EASEMENTS CONVEYED TO CERTAIN
ORGANIZATIONS. NOTWITHSTANDING THE PROVISIONS OF SECTION FIVE HUNDRED
THIRTY-THREE OF THIS TITLE, UPON CONVEYANCE OF A CONSERVATION EASEMENT
TO A NOT-FOR-PROFIT CONSERVATION ORGANIZATION, THE ASSESSED VALUE OF THE
INTEREST IN EACH SUBJECT PARCEL RETAINED BY THE GRANTOR OF SUCH EASEMENT
SHALL BE MODIFIED TO EFFECT THE CHANGE, IF ANY, IN THE VALUE OF THE
LANDS SUBJECT TO SUCH CONSERVATION EASEMENT.
S 2. This act shall take effect on the thirtieth day after it shall
have become a law and shall apply to the conveyance of conservation
easements on or after such date.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04609-01-3
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