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Senate Bill S3181A

2015-2016 Legislative Session

Provides that assessed values of cooperative units and condominiums shall not increase by more than 3% in the two years following resolution of tax certiorari proceedings

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Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development Committee

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Bill Amendments

2015-S3181 - Details

See Assembly Version of this Bill:
A1074
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
New York City Administrative Code
Laws Affected:
Add §11-240.1, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2011-2012: S6572, A9466
2013-2014: S1866, A915
2017-2018: S5229, A338
2019-2020: S2946, A250
2021-2022: S4147, A686
2023-2024: S1893

2015-S3181 - Summary

Provides that assessed values of cooperative units and condominiums shall not increase by more than 3% in the two years following resolution of tax certiorari proceedings.

2015-S3181 - Sponsor Memo

2015-S3181 - Bill Text download pdf 

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

                                  3181

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 3, 2015
                               ___________

Introduced  by Sen. STAVISKY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Housing, Construction  and
  Community Development

AN  ACT  to  amend  the  administrative code of the city of New York, in
  relation to rates of increase of assessed values of cooperative  units
  and condominiums

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

  Section 1. The administrative code of the city of New York is  amended
by adding a new section 11-240.1 to read as follows:
  S  11-240.1  ASSESSMENTS  FOLLOWING  TAX  CERTIORARI  SETTLEMENT.  THE
ASSESSED VALUE OF REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE  CORPO-
RATION  OR  ON  A CONDOMINIUM BASIS SHALL INCREASE BY NO MORE THAN THREE
PERCENT IN THE TWO YEARS FOLLOWING  THE  RESOLUTION  OF  TAX  CERTIORARI
PROCEEDINGS ON SUCH PROPERTY.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02319-01-5

2015-S3181A (ACTIVE) - Details

See Assembly Version of this Bill:
A1074
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
New York City Administrative Code
Laws Affected:
Add §11-240.1, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2011-2012: S6572, A9466
2013-2014: S1866, A915
2017-2018: S5229, A338
2019-2020: S2946, A250
2021-2022: S4147, A686
2023-2024: S1893

2015-S3181A (ACTIVE) - Summary

Provides that assessed values of cooperative units and condominiums shall not increase by more than 3% in the two years following resolution of tax certiorari proceedings.

2015-S3181A (ACTIVE) - Sponsor Memo

2015-S3181A (ACTIVE) - Bill Text download pdf 

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

                                 3181--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 3, 2015
                               ___________

Introduced  by Sen. STAVISKY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Housing, Construction  and
  Community  Development  --  recommitted  to  the Committee on Housing,
  Construction and Community Development in accordance with Senate  Rule
  6,  sec. 8 -- committee discharged, bill amended, ordered reprinted as
  amended and recommitted to said committee

AN ACT to amend the administrative code of the  city  of  New  York,  in
  relation  to rates of increase of assessed values of cooperative units
  and condominiums

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

  Section  1. The administrative code of the city of New York is amended
by adding a new section 11-240.2 to read as follows:
  S  11-240.2  ASSESSMENTS  FOLLOWING  TAX  CERTIORARI  SETTLEMENT.  THE
ASSESSED  VALUE OF REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE CORPO-
RATION OR ON A CONDOMINIUM BASIS SHALL INCREASE BY NO  MORE  THAN  THREE
PERCENT  IN  THE  TWO  YEARS  FOLLOWING THE RESOLUTION OF TAX CERTIORARI
PROCEEDINGS ON SUCH PROPERTY.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02319-02-6

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