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Assembly Bill A7527

2015-2016 Legislative Session

Provides for no filing or recording fees for land banks

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Archive: Last Bill Status - In Assembly Committee

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2015-A7527 (ACTIVE) - Details

Current Committee:
Assembly Local Governments
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd ยง1608, N-PC L

2015-A7527 (ACTIVE) - Summary

Provides for no filing or recording fees for land banks.

2015-A7527 (ACTIVE) - Bill Text download pdf 

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

                                  7527

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              May 15, 2015
                               ___________

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  the
  acquisition of property by land banks

  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 of the not-for-profit  corpo-
ration  law,  as added by chapter 257 of the laws of 2011, 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.   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.
                                                           LBD10881-01-5

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