Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Aug 13, 2015 |
signed chap.122 |
Aug 05, 2015 |
delivered to governor |
Jun 18, 2015 |
returned to assembly passed senate substituted for s4577a |
Jun 18, 2015 |
substituted by a7274a ordered to third reading cal.1819 committee discharged and committed to rules |
Jun 11, 2015 |
print number 4577a |
Jun 11, 2015 |
amend and recommit to local government |
Mar 30, 2015 |
referred to local government |
Senate Bill S4577A
Signed By Governor2015-2016 Legislative Session
Sponsored By
(R) Senate District
Archive: Last Bill Status Via A7274 - 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
Bill Amendments
2015-S4577 - Details
- See Assembly Version of this Bill:
- A7274
- Law Section:
- Taxation
2015-S4577 - Summary
Creates a tax exemption for owner occupied residential property in municipalities affected by Superstorm Sandy; exempts such buildings from 100 per centum of the increase in assessed value attributable to reconstruction, less 12 1/2 percentum, and less an additional 12 1/2 percentum for each year for an additional 7 years.
2015-S4577 - Sponsor Memo
BILL NUMBER:S4577 TITLE OF BILL: An act in relation to tax assessments for certain improved properties affected by Superstorm Sandy PURPOSE OR GENERAL IDEA OF BILL: Creates a tax exemption for owner occupied residential property in municipalities affected by Superstorm Sandy. Provides authority to local assessors to implement a phased in, graduated assessment increase over an 8 year period to property owners who were victims of Superstorm Sandy and had to complete significant repairs, reconstruction and in some cases build entire new homes in the aftermath of Superstorm Sandy. SUMMARY OF SPECIFIC PROVISIONS: Section 1 (a)creates a tax exemption for owner occupied residential property in municipalities and school districts affected by Superstorm Sandy which, after a public hearing, have adopted a local law or resolution to grant the exemption, and filed it with the commissioner of taxation and finance and the assessor of the municipality. Section 1(b)lists requirements for eligibility. Section 1 (c) specifies the duration of the exemption; (i) defines "exemption base"; (ii) discusses conditions requiring the recomputing of the "exemption base"; (iii) specifies how the exemption shall be
2015-S4577 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4577 2015-2016 Regular Sessions I N S E N A T E March 30, 2015 ___________ Introduced by Sen. BOYLE -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT in relation to tax assessments for certain improved properties affected by Superstorm Sandy THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. a. An owner occupied residential property that is the primary residence of the owner reconstructed, altered, or improved due to damage caused by Superstorm Sandy, as defined by subdivision 5 of section 2 of chapter 424 of the laws of 2013, within an eligible munici- pality, as defined by subdivision 2 of section 2 of chapter 424 of the laws of 2013, shall be exempt from taxation of county, town and school levies to the extent provided hereinafter. After a public hearing, the governing board of an eligible municipality may adopt a local law and a school district may adopt a resolution to grant the exemption authorized pursuant to this act. A copy of such local law or resolution shall be filed with the commissioner of taxation and finance and the assessor of such municipality who prepares the assessment roll on which the taxes of such municipality or school district are levied. b. To be eligible for the tax exemption authorized by an eligible municipality or school district pursuant to subdivision a of this section, such primary residence shall have been owner occupied by the same owner immediately prior to Superstorm Sandy and immediately after reconstruction with a certificate of occupancy, and have already received assessment relief pursuant to chapter 424 of the laws of 2013. c. Such primary residence shall be exempt for a period of one year to the extent of one hundred per centum of the increase in assessed value thereof attributable to such reconstruction, alteration or improvement and for an additional period of seven years subject to the following: (i) The extent of such exemption shall be decreased by twelve and one-half per centum of the "exemption base" each year during such addi- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06271-03-5
2015-S4577A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7274
- Law Section:
- Taxation
2015-S4577A (ACTIVE) - Summary
Creates a tax exemption for owner occupied residential property in municipalities affected by Superstorm Sandy; exempts such buildings from 100 per centum of the increase in assessed value attributable to reconstruction, less 12 1/2 percentum, and less an additional 12 1/2 percentum for each year for an additional 7 years.
2015-S4577A (ACTIVE) - Sponsor Memo
BILL NUMBER:S4577A TITLE OF BILL: An act in relation to tax assessments for certain improved properties affected by Superstorm Sandy PURPOSE OR GENERAL IDEA OF BILL: Creates a tax exemption for owner occupied residential property in municipalities affected by Superstorm Sandy. Provides authority to local assessors to implement a phased in, graduated assessment increase over an 8 year period to property owners who were victims of Superstorm Sandy and had to complete significant repairs, reconstruction and in some cases build entire new homes in the aftermath of Superstorm Sandy. SUMMARY OF SPECIFIC PROVISIONS: Section 1 (a) creates a tax exemption for owner occupied residential property in municipalities and school districts affected by Superstorm Sandy which, after a public hearing, have adopted a local law or resolution to grant the exemption, and filed it with the commissioner of taxation and finance and the assessor of the municipality. Section 1 (b) lists requirements for eligibility.
2015-S4577A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4577--A 2015-2016 Regular Sessions I N S E N A T E March 30, 2015 ___________ Introduced by Sen. BOYLE -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT in relation to tax assessments for certain improved properties affected by Superstorm Sandy THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. a. An owner occupied residential property that is the primary residence of the owner reconstructed, altered, or improved due to damage caused by Superstorm Sandy, as defined by subdivision 5 of section 2 of chapter 424 of the laws of 2013, within an eligible munici- pality, as defined by subdivision 2 of section 2 of chapter 424 of the laws of 2013, shall be exempt from taxation of county, town and school levies to the extent provided hereinafter. After a public hearing, the governing board of an eligible municipality may adopt a local law and a school district may adopt a resolution to grant the exemption authorized pursuant to this act. A copy of such local law or resolution shall be filed with the commissioner of taxation and finance and the assessor of such municipality who prepares the assessment roll on which the taxes of such municipality or school district are levied. b. To be eligible for the tax exemption authorized by an eligible municipality or school district pursuant to subdivision a of this section, such primary residence shall have been owner occupied by the same owner immediately prior to Superstorm Sandy and immediately after reconstruction with a certificate of occupancy, and have already received assessment relief pursuant to chapter 424 of the laws of 2013. c. Such primary residence shall be exempt for a period of one year to the extent of one hundred per centum of the increase in assessed value thereof attributable to such reconstruction, alteration or improvement and for an additional period of seven years subject to the following: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06271-06-5
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