Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 17, 2014 |
signed chap.531 |
Dec 05, 2014 |
delivered to governor |
Jun 19, 2014 |
returned to senate passed assembly ordered to third reading rules cal.501 substituted for a9937 |
Jun 19, 2014 |
substituted by s7709 rules report cal.501 |
Jun 18, 2014 |
reported reported referred to rules |
Jun 17, 2014 |
held for consideration in ways and means |
Jun 10, 2014 |
reported referred to ways and means |
Jun 02, 2014 |
referred to housing |
Assembly Bill A9937
Signed By Governor2013-2014 Legislative Session
Sponsored By
GOTTFRIED
Archive: Last Bill Status Via S7709 - Signed by Governor
- 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
Votes
2013-A9937 (ACTIVE) - Details
- See Senate Version of this Bill:
- S7709
- Law Section:
- Private Housing Finance Law
- Laws Affected:
- Amd ยง125, Priv Hous Fin L
2013-A9937 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 7709 A. 9937 S E N A T E - A S S E M B L Y June 2, 2014 ___________ IN SENATE -- Introduced by Sen. HOYLMAN -- read twice and ordered print- ed, and when printed to be committed to the Committee on Housing, Construction and Community Development IN ASSEMBLY -- Introduced by COMMITTEE ON RULES -- (at request of M. of A. Gottfried) -- read once and referred to the Committee on Housing AN ACT to amend the private housing finance law, in relation to author- izing the granting of an additional real property tax exemption for certain redevelopment company projects THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 125 of the private housing finance law is amended by adding a new paragraph (a-4) to read as follows: (A-4) ANY INCONSISTENT PROVISION OF LAW NOTWITHSTANDING, IN A CITY HAVING A POPULATION OF ONE MILLION OR MORE, WHERE A LOCAL LEGISLATIVE BODY HAS ACTED TO EXTEND THE TAX EXEMPTION OF A MUTUAL REDEVELOPMENT COMPANY FOR THE MAXIMUM PERIOD PROVIDED FOR IN PARAGRAPH (A-2) OF THIS SUBDIVISION, THE LOCAL LEGISLATIVE BODY MAY GRANT AN ADDITIONAL TAX EXEMPTION FOR A PERIOD OF UP TO FIFTY YEARS, PROVIDED THAT THE AMOUNT OF TAXES TO BE PAID DURING ANY SUCH PERIOD OF TAX EXEMPTION SHALL BE NOT LESS THAN AN AMOUNT EQUAL TO THE GREATER OF (I) TEN PER CENTUM OF THE ANNUAL RENT OR CARRYING CHARGES OF THE PROJECT MINUS UTILITIES FOR THE RESIDENTIAL PORTION OF THE PROJECT, OR (II) THE TAXES PAYABLE BY SUCH COMPANY FOR THE RESIDENTIAL PORTION OF THE PROJECT DURING THE TAX YEAR COMMENCING JULY FIRST, TWO THOUSAND AND ENDING ON JUNE THIRTIETH, TWO THOUSAND ONE. SUCH GRANT OF AN ADDITIONAL TAX EXEMPTION PERIOD SHALL TAKE EFFECT UPON THE EXPIRATION OF THE MAXIMUM PERIOD PROVIDED FOR IN PARAGRAPH (A-2) OF THIS SUBDIVISION. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15433-01-4
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