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Assembly Bill A7174A

2015-2016 Legislative Session

Relates to open space, parks, or historic preservation purposes to any not-for-profit tax exempt corporation operated for conservation, environmental, or historic preservation purposes

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

2015-A7174 - Details

See Senate Version of this Bill:
S7043
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §1402-a, Tax L

2015-A7174 - Summary

Exempts the conveyance of real property for open space, parks, or historic preservation purposes to any not-for-profit tax exempt corporation operated for conservation, environmental, or historic preservation purposes from the additional tax on real estate transfers of residential real property where the consideration is one million dollars or more.

2015-A7174 - Bill Text download pdf 

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

                                  7174

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             April 27, 2015
                               ___________

Introduced by M. of A. THIELE -- read once and referred to the Committee
  on Ways and Means

AN  ACT to amend the tax law, in relation to exempting the conveyance of
  real property for open space, parks, or historic preservation purposes
  to any not-for-profit tax exempt corporation  operated  for  conserva-
  tion,  environmental, or historic preservation purposes from the addi-
  tional tax on real estate transfers of residential real property where
  the consideration is one million dollars or more

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

  Section  1.  Section  1402-a of the tax law is amended by adding a new
subdivision (d) to read as follows:
  (D) NOTWITHSTANDING ANY PROVISION OF LAW TO THE  CONTRARY,  THE  ADDI-
TIONAL  TAX IMPOSED BY THIS SECTION SHALL NOT APPLY TO THE CONVEYANCE OF
REAL PROPERTY FOR OPEN SPACE, PARKS, OR HISTORIC  PRESERVATION  PURPOSES
TO  ANY NOT-FOR-PROFIT TAX EXEMPT CORPORATION OPERATED FOR CONSERVATION,
ENVIRONMENTAL OR HISTORIC PRESERVATION 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.
                                                           LBD10569-01-5

2015-A7174A (ACTIVE) - Details

See Senate Version of this Bill:
S7043
Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §1402-a, Tax L

2015-A7174A (ACTIVE) - Summary

Exempts the conveyance of real property for open space, parks, or historic preservation purposes to any not-for-profit tax exempt corporation operated for conservation, environmental, or historic preservation purposes from the additional tax on real estate transfers of residential real property where the consideration is one million dollars or more.

2015-A7174A (ACTIVE) - Bill Text download pdf 

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

                                 7174--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             April 27, 2015
                               ___________

Introduced by M. of A. THIELE -- read once and referred to the Committee
  on Ways and Means -- recommitted to the Committee on Ways and Means in
  accordance  with Assembly Rule 3, sec. 2 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN  ACT to amend the tax law, in relation to exempting the conveyance of
  real property for open space, parks, or historic preservation purposes
  to any not-for-profit tax exempt corporation  operated  for  conserva-
  tion,  environmental, or historic preservation purposes from the state
  real estate transfer tax and the additional tax on real estate  trans-
  fers  of  residential  real  property  where  the consideration is one
  million dollars or more

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

  Section  1.  Section  1402-a of the tax law is amended by adding a new
subdivision (d) to read as follows:
  (D) NOTWITHSTANDING ANY PROVISION OF LAW  TO  THE  CONTRARY,  THE  TAX
IMPOSED  PURSUANT TO SECTION ONE THOUSAND FOUR HUNDRED TWO OF THIS ARTI-
CLE AND THE ADDITIONAL TAX IMPOSED BY THIS SECTION SHALL  NOT  APPLY  TO
THE CONVEYANCE OF REAL PROPERTY FOR OPEN SPACE, PARKS, OR HISTORIC PRES-
ERVATION  PURPOSES TO ANY NOT-FOR-PROFIT TAX EXEMPT CORPORATION OPERATED
FOR CONSERVATION, ENVIRONMENTAL OR HISTORIC PRESERVATION 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.
                                                           LBD10569-02-6

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