Assembly Bill A7944

2015-2016 Legislative Session

Extends the exemption of certain multiple dwellings from local taxation

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Archive: Last Bill Status - In Assembly Committee


  • 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-A7944 (ACTIVE) - Details

Current Committee:
Assembly Housing
Law Section:
Real Property Tax Law
Laws Affected:
Amd §421-a, RPT L

2015-A7944 (ACTIVE) - Summary

Extends the exemption of certain multiple dwellings from local taxation.

2015-A7944 (ACTIVE) - Bill Text download pdf

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

                                  7944

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              June 1, 2015
                               ___________

Introduced by M. of A. WRIGHT -- read once and referred to the Committee
  on Housing

AN  ACT to amend the real property tax law, in relation to extending the
  exemption of certain multiple dwellings from local taxation

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

  Section 1. The opening paragraph of clause (A) of subparagraph (iv) of
paragraph (a) of subdivision 2 of section 421-a of the real property tax
law,  as  amended  by  section 41 of part B of chapter 97 of the laws of
2011, is amended to read as follows:
  Unless excluded by local law, in the city of New York, the benefits of
this subparagraph shall be available in the borough of Manhattan for new
multiple dwellings on tax lots now existing or hereafter  created  south
of  or adjacent to either side of one hundred tenth street that commence
construction after July first, nineteen hundred  ninety-two  and  before
June fifteenth, two thousand [fifteen] NINETEEN, only if:
  S  2.  Subparagraph  (ii) of paragraph (c) of subdivision 2 of section
421-a of the real property tax law, as amended by section 42 of  part  B
of chapter 97 of the laws of 2011, is amended to read as follows:
  (ii)  construction  is commenced after January first, nineteen hundred
seventy-five and before June fifteenth, two thousand [fifteen]  NINETEEN
provided,  however,  that  such  commencement  period shall not apply to
multiple dwellings eligible for  benefits  under  subparagraph  (iv)  of
paragraph (a) of this subdivision;
  S  3.  Subdivision 7 of section 421-a of the real property tax law, as
added by chapter 618 of the laws of 2007, subparagraph (i) of  paragraph
(a)  and subparagraphs (i) and (ii) of paragraph (d) as amended by chap-
ter 619 of the laws of 2007, and paragraphs (b), (c) and (e) as  amended
by chapter 15 of the laws of 2008, is amended to read as follows:
  7. (a) For the purposes of this subdivision:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11457-01-5

              

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