S T A T E O F N E W Y O R K
2013-2014 Regular Sessions
I N S E N A T E
May 7, 2013
Introduced by Sen. GOLDEN -- read twice and ordered printed, and when
printed to be committed to the Committee on Cities
AN ACT to authorize the city of New York to implement provisions related
to the Foundation for Sephardic Studies, Inc.
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The city of New York is hereby authorized to implement the
provisions of this act, so to prevent the sale and/or foreclosure of tax
liens on a property owned by Foundation for Sephardic Studies, Inc.
Notwithstanding any other provision of law to the contrary, the commis-
sioner of the New York city department of finance is hereby authorized
to accept from Foundation for Sephardic Studies, Inc., a not-for-profit
corporation, an application for exemption from real property taxes
pursuant to section 420-a of the real property tax law for the 2003
through 2008 assessment rolls, for the parcel owned by such corporation
in the city of New York, borough of Brooklyn, designated as block 07089,
lot 07 in such borough. If accepted, the application shall be reviewed
as if it had been received on or before the taxable status date estab-
lished for such assessment rolls.
If satisfied that such corporation would otherwise be entitled to such
exemption if such corporation had filed an application for exemption by
the appropriate taxable status date, the commissioner of the New York
city department of finance, upon approval by the city council of the
city of New York, may grant exemption from all taxation with respect to
the subject tax rolls due and owing by such corporation on the effective
date of this act and cancel taxes, fines, penalties and interest remain-
ing unpaid, and make appropriate correction of the subject assessment
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.