Senate Bill S8082

                                 BILL NUMBER:  S8082

 TITLE OF BILL :

An act relating to authorizing the department of finance of the city
of New York to accept a final application for a tax abatement for
certain industrial and commercial property; and providing for the
repeal of such provisions upon expiration thereof

 PURPOSE OR GENERAL IDEA OF BILL

This bill would authorize the department of finance of the city of New
York to accept a  retroactive filing under the ICAP program, where,
through no fault of the property owner, all the required filings under
the ICAP program were not timely made.

 SUMMARY OF SPECIFIC PROVISIONS :

This bill would authorize the department of finance of the city of New
York to accept from 85 Flatbush LLC, a final application, required by
subparagraph (ii) of paragraph (a) of subdivision 5 section 489-cccccc
of the real property tax law for abatement of real property taxes
pursuant to title 2-F of article 4 of the real property tax law, as if
it were timely filed for the parcel owned by such entity which is
located at 85 Flatbush Avenue Extension, county of Kings, otherwise
known as Kings county tax map section 3, block 120, lot 45.
              

This bill would further provide that if accepted, the application
shall be reviewed as if it had been received on or before the
applicable filing deadline established for such application. If
satisfied that such entity would otherwise be entitled to such
abatement if the entity had filed an application for abatement by the
appropriate final application date, this bill would further authorize
the department to approve the application.

This bill would additionally provide, that if such abatement is
granted, and such entity have paid any taxes with respect to years
during which the abatement is being sought, then the department may,
in its sole discretion, provide for the refund of those taxes paid and
cancel those taxes, fines, penalties, liens or interest remaining
unpaid.

 JUSTIFICATION :

This bill would provide for a filing forgiveness under the ICAP
program, where, through no fault of the property owner, all the
required filings under the ICAP program were not timely made. The
property in question was subject to a mortgage foreclosure and death
of the previous owner, preventing the subsequent owner, through no
fault of their own, from the ability to legally satisfy all the ICAP
filing deadlines due to program changes and the passage of time. This
bill would authorize, in the interest of justice and fairness, the
ability of the new property owner, with a parcel that otherwise fully
satisfies all the other requirements of ICAP, to have one of the
filings that was unable to be accepted, to be filed retroactively.

 PRIOR LEGISLATIVE HISTORY :

This is a new bill

 FISCAL IMPLICATIONS :

None Noted

 EFFECTIVE DATE :
This act shall take effect immediately; provided, however, that this
act shall expire and be deemed repealed on July 1,2017.