Senate Bill S172

                                BILL NUMBER:S172

TITLE OF BILL:
An act
to amend the real property tax law, in relation to requiring
notification to be given to the
local housing agency
in the event that cessation of
construction on a project for which an
application for a certain tax exemption has been made equals or exceeds
one hundred twenty days

PURPOSE:
To require applicants under the 421-a tax abatement program to provide
written notice to the local housing agency when construction ceases
for a period exceeding one hundred twenty days.

SUMMARY OF PROVISIONS:
Adds a new subdivision 5-a to Section 421-a of the real property tax law
requiring applicants to affirmatively notify the local housing agency
in writing when construction ceases for a period exceeding one
hundred twenty days, the reasons for the cessation and the date
construction is expected to resume.

EXISTING LAW:
Section 421-a real property tax law.
              

JUSTIFICATION:
When affordable housing building projects are halted, communities
should know about this loss of housing, Projects that cease
construction without explanation leave neighbors questioning whether
the excavation in their midst will ever conclude and provide the
needed housing and improvements that were promised when the project
was approved, Requiring the developer to provide notice when
construction ceases and when it will resume will help assuage these
concerns and provide some level of assurance that the project will be
completed in a reasonable period of time.

LEGISLATIVE HISTORY:
2010: S.5281A (Squadron) - Third Reading Cal. 841, A.8125A (Kavanagh)
- Passed Assembly
2009: S.5281A (Squadron) - Third Reading Cal. 516,
A.8125A (Kavanagh) - Passed Assembly
2012: Referred to Housing, Construction and Community Development

FISCAL IMPLICATIONS:
None to New York State.

LOCAL FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
Immediately.