senate Bill S5050

2013-2014 Legislative Session

Authorizes the city of New York to implement provisions related to the Foundation for Sephardic Studies, Inc.

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Sponsored By

Archive: Last Bill Status - In Committee

  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 07, 2013 referred to cities

S5050 - Details

See Assembly Version of this Bill:
Current Committee:
Law Section:
Real Property

S5050 - Summary

Authorizes the city of New York to implement real property exemption provisions for certain assessment rolls related to the Foundation for Sephardic Studies, Inc.

S5050 - Sponsor Memo

S5050 - Bill Text download pdf

                    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.


  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.


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