S T A T E O F N E W Y O R K
________________________________________________________________________
3674
2015-2016 Regular Sessions
I N A S S E M B L Y
January 27, 2015
___________
Introduced by M. of A. DiPIETRO -- read once and referred to the Commit-
tee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to establishing a
reduction in the assessed value of lands burdened by certain conserva-
tion easements
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 533-a to read as follows:
S 533-A. ASSESSMENT OF CONSERVATION EASEMENTS CONVEYED TO CERTAIN
ORGANIZATIONS. NOTWITHSTANDING THE PROVISIONS OF SECTION FIVE HUNDRED
THIRTY-THREE OF THIS TITLE, UPON CONVEYANCE OF A CONSERVATION EASEMENT
TO A NOT-FOR-PROFIT CONSERVATION ORGANIZATION, THE ASSESSED VALUE OF THE
INTEREST IN EACH SUBJECT PARCEL RETAINED BY THE GRANTOR OF SUCH EASEMENT
SHALL BE MODIFIED TO EFFECT THE CHANGE, IF ANY, IN THE VALUE OF THE
LANDS SUBJECT TO SUCH CONSERVATION EASEMENT.
S 2. This act shall take effect on the thirtieth day after it shall
have become a law and shall apply to the conveyance of conservation
easements on or after such date.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07862-01-5