Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 18, 2016 |
referred to investigations and government operations |
Senate Bill S7043
2015-2016 Legislative Session
Sponsored By
(R) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
- 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
2015-S7043 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7174
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Tax Law
- Laws Affected:
- Amd §1402-a, Tax L
2015-S7043 (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-S7043 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7043 TITLE OF BILL : 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 conservation, environmental, or historic preservation purposes from the state real estate transfer tax and the additional tax on real estate transfers of residential real property where the consideration is one million dollars or more PURPOSE : To exempt 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 state real estate transfer tax and the additional tax on real estate transfers of residential real property where the consideration is one million dollars or more. SUMMARY OF PROVISIONS : Section 1402-a of the tax law is amended by adding a new subdivision (d) to exempt the conveyance of real property for open space, park or historic preservation purposes to any not-for-profit tax exempt corporation operated for conservation, environmental or historic preservation purposes from the state real estate transfer tax and the
2015-S7043 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7043 I N S E N A T E March 18, 2016 ___________ Introduced by Sen. LAVALLE -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations 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. LBD10569-03-6
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