S T A T E O F N E W Y O R K
________________________________________________________________________
7957
I N S E N A T E
May 31, 2016
___________
Introduced by Sen. MARCELLINO -- read twice and ordered printed, and
when printed to be committed to the Committee on Local Government
AN ACT to amend the real property tax law, in relation to changes in
assessment for businesses that make payments in lieu of taxes
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 561 to read as follows:
S 561. PAYMENTS IN LIEU OF TAXES; CHANGE OF ASSESSMENT; EFFECTIVE
DATE. NOTWITHSTANDING ANY OTHER PROVISION OF LAW, WHEN A PAYMENT IN
LIEU OF TAXES PROPERTY ASSESSMENT IS CHALLENGED THROUGH THE GRIEVANCE
PROCESS, ANY REDUCTION IN SCHOOL TAXES THAT IS AWARDED SHALL NOT TAKE
EFFECT UNTIL THE FOLLOWING TAXABLE STATUS YEAR.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02490-04-6