senate Bill S6689A

2013-2014 Legislative Session

Relates to a property investment exemption in certain villages

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 (7)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 20, 2014 committed to rules
May 05, 2014 advanced to third reading
Apr 30, 2014 2nd report cal.
Apr 29, 2014 1st report cal.447
Mar 20, 2014 print number 6689a
amend and recommit to local government
Feb 27, 2014 referred to local government

Votes

view votes

Apr 29, 2014 - Local Government committee Vote

S6689A
7
0
committee
7
Aye
0
Nay
2
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Local Government committee vote details

Local Government Committee Vote: Apr 29, 2014

aye wr (2)

Bill Amendments

Original
A (Active)
Original
A (Active)

S6689 - Details

See Assembly Version of this Bill:
A9328
Current Committee:
Law Section:
Real Property Tax Law
Laws Affected:
Add §485-q, RPT L

S6689 - Summary

Relates to a property investment exemption in certain villages.

S6689 - Sponsor Memo

S6689 - Bill Text download pdf

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

                                  6689

                            I N  S E N A T E

                            February 27, 2014
                               ___________

Introduced  by  Sen.  GIPSON -- 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  property
  investment exemption in certain villages

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

  Section 1. The real property tax  law  is  amended  by  adding  a  new
section 485-q to read as follows:
  S  485-Q.  PROPERTY  INVESTMENT  EXEMPTION; CERTAIN VILLAGES. 1.  REAL
PROPERTY CONSTRUCTED, ALTERED, INSTALLED OR IMPROVED SUBSEQUENT  TO  THE
FIRST  DAY OF JULY, TWO THOUSAND THIRTEEN FOR THE PURPOSE OF MULTI-FAMI-
LY, RESIDENTIAL, MIXED USE, COMMERCIAL, BUSINESS OR INDUSTRIAL  ACTIVITY
IN  VILLAGES  WITH  A  POPULATION OF NOT LESS THAN FIVE THOUSAND AND NOT
MORE THAN SIX THOUSAND IN COUNTIES WITH A POPULATION OF  NOT  LESS  THAN
TWO  HUNDRED  NINETY THOUSAND AND NOT MORE THAN THREE HUNDRED FIVE THOU-
SAND MAY BE EXEMPT FROM TAXATION AND SPECIAL AD VALOREM  LEVIES,  EXCEPT
FOR  SPECIAL  AD  VALOREM  LEVIES  FOR  FIRE  DISTRICT,  FIRE PROTECTION
DISTRICT AND FIRE ALARM DISTRICT PURPOSES AS PROVIDED IN THIS SECTION.
  2. (A) (I) SUCH REAL PROPERTY SHALL BE EXEMPT FOR A PERIOD OF ONE YEAR
TO THE EXTENT OF SIXTY PER CENTUM OF  THE  INCREASE  IN  ASSESSED  VALUE
THEREOF  ATTRIBUTABLE  TO SUCH CONSTRUCTION, ALTERATION, INSTALLATION OR
IMPROVEMENT AND FOR AN ADDITIONAL PERIOD OF NINE YEARS PROVIDED,  HOWEV-
ER, THAT THE EXTENT OF SUCH EXEMPTION SHALL BE DECREASED BY NO LESS THAN
FIVE  PER  CENTUM  EACH YEAR DURING SUCH ADDITIONAL PERIOD OF NINE YEARS
AND SUCH EXEMPTION SHALL BE COMPUTED  WITH  RESPECT  TO  THE  "EXEMPTION
BASE."  THE  EXEMPTION  BASE  SHALL BE THE INCREASE IN ASSESSED VALUE AS
DETERMINED IN THE INITIAL YEAR OF SUCH TEN  YEAR  PERIOD  FOLLOWING  THE
FILING  OF  AN  ORIGINAL APPLICATION, EXCEPT AS PROVIDED IN SUBPARAGRAPH
(II) OF THIS PARAGRAPH.
  (II) IN ANY YEAR IN WHICH A CHANGE IN LEVEL OF ASSESSMENT  OF  FIFTEEN
PERCENT OR MORE IS CERTIFIED FOR A FINAL ASSESSMENT ROLL PURSUANT TO THE
RULES  OF  THE  STATE BOARD, THE EXEMPTION BASE SHALL BE MULTIPLIED BY A
FRACTION, THE NUMERATOR OF WHICH SHALL BE THE TOTAL  ASSESSED  VALUE  OF
THE PARCEL ON SUCH FINAL ASSESSMENT ROLL (AFTER ACCOUNTING FOR ANY PHYS-

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

S6689A (ACTIVE) - Details

See Assembly Version of this Bill:
A9328
Current Committee:
Law Section:
Real Property Tax Law
Laws Affected:
Add §485-q, RPT L

S6689A (ACTIVE) - Summary

Relates to a property investment exemption in certain villages.

S6689A (ACTIVE) - Sponsor Memo

S6689A (ACTIVE) - Bill Text download pdf

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

                                 6689--A

                            I N  S E N A T E

                            February 27, 2014
                               ___________

Introduced  by  Sen.  GIPSON -- read twice and ordered printed, and when
  printed to be committed  to  the  Committee  on  Local  Government  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee

AN ACT to amend the real property tax law, in  relation  to  a  property
  investment exemption in certain villages

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

  Section 1. The real property tax  law  is  amended  by  adding  a  new
section 485-q to read as follows:
  S  485-Q.  PROPERTY  INVESTMENT  EXEMPTION; CERTAIN VILLAGES. 1.  REAL
PROPERTY CONSTRUCTED, ALTERED, INSTALLED OR IMPROVED SUBSEQUENT  TO  THE
FIRST DAY OF JULY, TWO THOUSAND THIRTEEN FOR THE PURPOSE OF MULTI-FAMILY
RESIDENTIAL,  MIXED  USE, COMMERCIAL, BUSINESS OR INDUSTRIAL ACTIVITY IN
VILLAGES WITH A POPULATION OF NOT LESS THAN FIVE THOUSAND AND  NOT  MORE
THAN  SIX  THOUSAND  IN  COUNTIES WITH A POPULATION OF NOT LESS THAN TWO
HUNDRED NINETY THOUSAND AND NOT MORE THAN THREE  HUNDRED  FIVE  THOUSAND
MAY  BE  EXEMPT  FROM TAXATION AND SPECIAL AD VALOREM LEVIES, EXCEPT FOR
SPECIAL AD VALOREM LEVIES FOR FIRE DISTRICT,  FIRE  PROTECTION  DISTRICT
AND FIRE ALARM DISTRICT PURPOSES AS PROVIDED IN THIS SECTION.
  2. (A) (I) SUCH REAL PROPERTY SHALL BE EXEMPT FOR A PERIOD OF ONE YEAR
TO  THE  EXTENT  OF  SIXTY  PER CENTUM OF THE INCREASE IN ASSESSED VALUE
THEREOF ATTRIBUTABLE TO SUCH CONSTRUCTION, ALTERATION,  INSTALLATION  OR
IMPROVEMENT  AND FOR AN ADDITIONAL PERIOD OF NINE YEARS PROVIDED, HOWEV-
ER, THAT THE EXTENT OF SUCH EXEMPTION SHALL BE DECREASED BY NO LESS THAN
FIVE PER CENTUM EACH YEAR DURING SUCH ADDITIONAL PERIOD  OF  NINE  YEARS
AND  SUCH  EXEMPTION  SHALL  BE  COMPUTED WITH RESPECT TO THE "EXEMPTION
BASE." THE EXEMPTION BASE SHALL BE THE INCREASE  IN  ASSESSED  VALUE  AS
DETERMINED  IN  THE  INITIAL  YEAR OF SUCH TEN YEAR PERIOD FOLLOWING THE
FILING OF AN ORIGINAL APPLICATION, EXCEPT AS  PROVIDED  IN  SUBPARAGRAPH
(II) OF THIS PARAGRAPH.
  (II)  IN  ANY YEAR IN WHICH A CHANGE IN LEVEL OF ASSESSMENT OF FIFTEEN
PERCENT OR MORE IS CERTIFIED FOR A FINAL ASSESSMENT ROLL PURSUANT TO THE
RULES OF THE STATE BOARD, THE EXEMPTION BASE SHALL BE  MULTIPLIED  BY  A

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

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.