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Assembly Bill A10375

Signed By Governor

2015-2016 Legislative Session

Relates to exempting the real property of a land bank from certain tax levies and special assessments

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Archive: Last Bill Status Via S7880 - Signed by Governor

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2015-A10375 (ACTIVE) - Details

See Senate Version of this Bill:
S7880
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd ยง1608, N-PC L

2015-A10375 (ACTIVE) - Summary

Exempts the real property of a land bank from all special ad valorem levies and special assessments as defined in section one hundred two of the real property tax law.

2015-A10375 (ACTIVE) - Bill Text download pdf 

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

                                  10375

                          I N  A S S E M B L Y

                              May 25, 2016
                               ___________

Introduced  by  M.  of  A.  MAGNARELLI  -- read once and referred to the
  Committee on Local Governments

AN ACT to amend the  not-for-profit  corporation  law,  in  relation  to
  exempting the real property of a land bank from certain tax levies and
  special assessments

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

  Section 1. Paragraph (a) of section 1608 if the not-for-profit  corpo-
ration law, as amended by chapter 407 of the laws of 2015, is amended to
read as follows:
  (a) The real property of a land bank and its income and operations are
exempt  from  all  taxation  by  the state of New York and by any of its
political subdivisions.   THE REAL PROPERTY OF  A  LAND  BANK  SHALL  BE
EXEMPT  FROM  ALL  SPECIAL  AD VALOREM LEVIES AND SPECIAL ASSESSMENTS AS
DEFINED IN SECTION ONE  HUNDRED  TWO  OF  THE  REAL  PROPERTY  TAX  LAW.
Notwithstanding any other general, special or local law relating to fees
of  clerks, no clerk shall charge or collect a fee for filing, recording
or indexing any paper, document, map or proceeding  filed,  recorded  or
indexed  for  a  land  bank, or an officer thereof acting in an official
capacity, nor for furnishing a transcript, certification or copy of  any
paper, document, map or proceeding to be used for land bank purposes.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15538-01-6

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