senate Bill S6347

2013-2014 Legislative Session

Relates to a real property tax exemption for property owned by a limited liability company

download bill text pdf

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

do you support this bill?

Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 17, 2014 referred to local government

S6347 - Details

See Assembly Version of this Bill:
A8624
Current Committee:
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยง425, RPT L

S6347 - Summary

Permits a STAR exemption for property owned by a limited liability company where the limited liability company is owned by a person to whom the exemption would have otherwise been granted.

S6347 - Sponsor Memo

S6347 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6347

                            I N  S E N A T E

                            January 17, 2014
                               ___________

Introduced  by  Sen.  FARLEY -- 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 a real proper-
  ty tax exemption for property owned by a limited liability company

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subdivision 3 of section 425 of the real property tax law
is amended by adding a new paragraph (e-1) to read as follows:
  (E-1) DWELLINGS OWNED BY A LIMITED LIABILITY COMPANY. IF  LEGAL  TITLE
TO  A  DWELLING  IS  HELD  BY A LIMITED LIABILITY COMPANY, THE EXEMPTION
SHALL BE GRANTED IF THE PROPERTY SERVES AS THE PRIMARY RESIDENCE OF  ONE
OR  MORE  OF THE MEMBERS OF THE LIMITED LIABILITY COMPANY, PROVIDED THAT
THE MEMBER OR MEMBERS WHO PRIMARILY RESIDE THEREON PERSONALLY PAY ALL OF
THE REAL PROPERTY TAXES AND OTHER COSTS ASSOCIATED WITH  THE  PROPERTY'S
OWNERSHIP.
  S 2. This act shall take effect immediately.







 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13122-02-4

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.