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Assembly Bill A4782

2015-2016 Legislative Session

Concerns primary residences owned by limited liability companies that are occupied by veterans

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Archive: Last Bill Status - In Assembly Committee

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2015-A4782 (ACTIVE) - Details

Current Committee:
Assembly Veterans
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยงยง458 & 458-a, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: A8626
2017-2018: A2759

2015-A4782 (ACTIVE) - Summary

Concerns primary residences owned by limited liability companies that are occupied by veterans.

2015-A4782 (ACTIVE) - Bill Text download pdf 

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

                                  4782

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 6, 2015
                               ___________

Introduced  by M. of A. BUTLER -- Multi-Sponsored by -- M. of A. OAKS --
  read once and referred to the Committee on Veterans' Affairs

AN ACT to amend the real property tax law, in relation to veteran  occu-
  pied primary residences owned by a limited liability company

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

  Section 1. Section 458 of the real property  tax  law  is  amended  by
adding a new subdivision 11 to read as follows:
  11.  NOTWITHSTANDING  ANY  OTHER PROVISION OF LAW TO THE CONTRARY, THE
PROVISIONS OF THIS SECTION SHALL APPLY TO ANY REAL PROPERTY OWNED  BY  A
LIMITED  LIABILITY COMPANY, AS DEFINED BY SUBDIVISION (M) OF SECTION ONE
HUNDRED TWO OF THE  LIMITED  LIABILITY  COMPANY  LAW,  IF  SUCH  LIMITED
LIABILITY  COMPANY  IS  OWNED  BY  SUCH  PERSON  OR  PERSONS TO WHOM THE
EXEMPTION WOULD BE GRANTED HAD SUCH PERSON OR  PERSONS  OWNED  THE  REAL
PROPERTY IN QUESTION RATHER THAN THE LIMITED LIABILITY COMPANY.
  S 2. Paragraph (c) of subdivision 1 of section 458-a of the real prop-
erty  tax law, as amended by chapter 100 of the laws of 1988, is amended
to read as follows:
  (c) "Qualified owner" means a veteran, the spouse of a  veteran  [or],
the  unremarried  surviving  spouse of a veteran, OR A LIMITED LIABILITY
COMPANY, AS DEFINED BY SUBDIVISION (M) OF SECTION ONE HUNDRED TWO OF THE
LIMITED LIABILITY COMPANY LAW, IF  SUCH  LIMITED  LIABILITY  COMPANY  IS
OWNED  BY  SUCH PERSON OR PERSONS TO WHOM THE EXEMPTION WOULD BE GRANTED
HAD SUCH PERSON OR PERSONS OWNED THE REAL PROPERTY  IN  QUESTION  RATHER
THAN THE LIMITED LIABILITY COMPANY. Where property is owned by more than
one  qualified  owner,  the  exemption  to which each is entitled may be
combined. Where a veteran is also the unremarried surviving spouse of  a
veteran,  such  person  may  also  receive  any  exemption  to which the
deceased spouse was entitled.
  S 3. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03611-01-5

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