S T A T E O F N E W Y O R K
________________________________________________________________________
1819
2013-2014 Regular Sessions
I N S E N A T E
(PREFILED)
January 9, 2013
___________
Introduced by Sens. ESPAILLAT, PERKINS, RIVERA -- read twice and ordered
printed, and when printed to be committed to the Committee on Housing,
Construction and Community Development
AN ACT to amend the real property tax law, in relation to exemptions of
new multiple dwellings from local taxation
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The opening paragraph of clause (A) of subparagraph (iv) of
paragraph (a) of subdivision 2 of section 421-a of the real property tax
law, as amended by section 41 of part B of chapter 97 of the laws of
2011, is amended to read as follows:
Unless excluded by local law, in the city of New York, the benefits of
this subparagraph shall be available in the borough of Manhattan for new
multiple dwellings on tax lots now existing or hereafter created south
of or adjacent to either side of one hundred tenth street that commence
construction after July first, nineteen hundred ninety-two and before
June fifteenth, two thousand [fifteen] SIXTEEN only if:
S 2. Subparagraph (ii) of paragraph (c) of subdivision 2 of section
421-a of the real property tax law, as amended by section 42 of part B
of chapter 97 of the laws of 2011, is amended to read as follows:
(ii) construction is commenced after January first, nineteen hundred
seventy-five and before June fifteenth, two thousand [fifteen] SIXTEEN
provided, however, that such commencement period shall not apply to
multiple dwellings eligible for benefits under subparagraph (iv) of
paragraph (a) of this subdivision;
S 3. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02991-01-3