Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 27, 2014 |
referred to local government |
Senate Bill S7665
2013-2014 Legislative Session
Sponsored By
(R, IP) Senate District
Archive: Last Bill Status - In Senate Committee Local Government Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2013-S7665 (ACTIVE) - Details
- Current Committee:
- Senate Local Government
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd §1120, RPT L
- Versions Introduced in 2015-2016 Legislative Session:
-
S6301
2013-S7665 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7665 TITLE OF BILL: An act to amend the real property tax law, in relation to bids by the city of Buffalo for foreclosed property PURPOSE: To give the City of Buffalo preferred bid power at In Rem Foreclosure Auctions. SUMMARY OF PROVISIONS: This bill authorizes the City of Buffalo to tender a bid at certain public sales in an amount equal to the total amount of all municipal claims and liens which were the basis for the judgment.Upon tendering such bid, the property shall be deemed sold to the City, and the obligation of the City to perform in accordance with such agreement shall be deemed to be in full satisfaction of the municipal claim which was the basis for the judgment. The City takes absolute title to the property sold, free and discharged of all tax and municipal claims, liens, mortgaged, charges and estates of whatever kind. JUSTIFICATION: The City of Buffalo forecloses on several thousand tax-delinquent properties each year through its In Rem Tax Foreclosure process. Unfortunately, many properties are transferred from one negligent landlord to another because the City has no preferred bid status at its annual In Rem Foreclosure Auction. As with any other interested party, the City must place the highest bid on a given property in order to purchase it.
2013-S7665 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7665 I N S E N A T E May 27, 2014 ___________ Introduced by Sen. GRISANTI -- 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 bids by the city of Buffalo for foreclosed property THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 1120 of the real property tax law is amended by adding a new subdivision 3 to read as follows: 3. AT A PUBLIC SALE PURSUANT TO THE PROVISIONS OF SECTION ELEVEN HUNDRED SIXTY-SIX OF THIS ARTICLE OR SALE PURSUANT TO THE PROVISIONS OF A COUNTY CHARTER, CITY CHARTER, ADMINISTRATIVE CODE, OR SPECIAL LAW WHEN APPLICABLE UNDER SECTION ELEVEN HUNDRED FOUR OF THIS ARTICLE, THE CITY OF BUFFALO MAY TENDER A BID AT SUCH SALE IN AN AMOUNT EQUAL TO THE TOTAL AMOUNT OF ALL MUNICIPAL CLAIMS AND LIENS WHICH WERE THE BASIS FOR THE JUDGMENT. IN THE EVENT OF SUCH TENDER BY THE CITY OF BUFFALO, THE PROP- ERTY SHALL BE DEEMED SOLD TO THE CITY OF BUFFALO REGARDLESS OF ANY BIDS BY ANY OTHER THIRD PARTIES. THE OBLIGATION OF THE CITY OF BUFFALO TO PERFORM IN ACCORDANCE WITH SUCH AGREEMENT SHALL BE DEEMED TO BE IN FULL SATISFACTION OF THE MUNICIPAL CLAIM WHICH WAS THE BASIS FOR THE JUDG- MENT. THE CITY OF BUFFALO, AS PURCHASER AT SUCH PUBLIC SALE OR SALE PURSUANT TO THE PROVISIONS OF A COUNTY CHARTER, CITY CHARTER, ADMINIS- TRATIVE CODE, OR SPECIAL LAW WHEN APPLICABLE UNDER SECTION ELEVEN HUNDRED FOUR OF THIS ARTICLE, SHALL TAKE AND FOREVER THEREAFTER HAVE, AN ABSOLUTE TITLE TO THE PROPERTY SOLD, FREE AND DISCHARGED OF ALL TAX AND MUNICIPAL CLAIMS, LIENS, MORTGAGES, CHARGES AND ESTATES OF WHATEVER KIND. THE DEED TO THE CITY OF BUFFALO SHALL BE EXECUTED, ACKNOWLEDGED AND DELIVERED WITHIN THIRTY DAYS OF THE SALE. ALL CITY OF BUFFALO DISPO- SITIONS OF PROPERTY ACQUIRED PURSUANT TO THIS SUBDIVISION SHALL COMPLY WITH THE LAWS OF THE CITY OF BUFFALO REGARDING DISPOSITION OF REAL PROP- ERTY. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15305-01-4
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