Assembly Bill A7911

Signed By Governor
2015-2016 Legislative Session

Relates to the acquisition and disposition of property by land banks

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S5777 - Signed by Governor

  • 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

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2015-A7911 (ACTIVE) - Details

See Senate Version of this Bill:
S5777
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd §§1608 & 1609, N-PC L

2015-A7911 (ACTIVE) - Summary

Relates to the acquisition and disposition of property by land banks; provides for no filing or recording fees for land banks.

2015-A7911 (ACTIVE) - Bill Text download pdf 

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

                                  7911

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              May 29, 2015
                               ___________

Introduced  by  M.  of A. MAGNARELLI, LUPARDO, McDONALD -- read once and
  referred to the Committee on Local Governments

AN ACT to amend the not-for-profit corporation law, in relation  to  the
  acquisition and disposition of property by land banks

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

  Section 1. Paragraph (a) of section 1608 of the not-for-profit  corpo-
ration  law,  as added by chapter 257 of the laws of 2011, is amended to
read as follows:
  (a) The real property of a land bank and its income and operations are
exempt from all taxation by the state of New York  and  by  any  of  its
political  subdivisions.   NOTWITHSTANDING ANY OTHER GENERAL, SPECIAL OR
LOCAL LAW RELATING TO FEES OF CLERKS, NO CLERK SHALL CHARGE OR COLLECT A
FEE FOR FILING, RECORDING  OR  INDEXING  ANY  PAPER,  DOCUMENT,  MAP  OR
PROCEEDING  FILED,  RECORDED  OR  INDEXED FOR A LAND BANK, OR AN OFFICER
THEREOF ACTING IN AN OFFICIAL CAPACITY, NOR FOR FURNISHING A TRANSCRIPT,
CERTIFICATION OR COPY OF ANY PAPER, DOCUMENT, MAP OR  PROCEEDING  TO  BE
USED FOR LAND BANK PURPOSES.
  S 2.  Section 1609 of the not-for-profit corporation law is amended by
adding a new paragraph (a-1) to read as follows:
  (A-1) THIS SECTION GOVERNING THE DISPOSITION OF PROPERTY BY LAND BANKS
SHALL  SUPERSEDE SECTION TWENTY-EIGHT HUNDRED NINETY-SEVEN OF THE PUBLIC
AUTHORITIES LAW IN THE GOVERNANCE OF PROPERTY DISPOSITIONS BY LAND BANKS
AND, AS SUCH, NOTWITHSTANDING ANY OTHER GENERAL, SPECIAL OR LOCAL LAW TO
THE CONTRARY, SECTION TWENTY-EIGHT HUNDRED NINETY-SEVEN  OF  THE  PUBLIC
AUTHORITIES LAW SHALL NOT APPLY TO LAND BANKS.
  S 3. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11414-01-5

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