senate Bill S2449

2015-2016 Legislative Session

Relates to a real property tax exemption for property owned by a limited liability company

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Local Government Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 06, 2016 referred to local government
Jun 25, 2015 committed to rules
Mar 09, 2015 advanced to third reading
Mar 04, 2015 2nd report cal.
Mar 03, 2015 1st report cal.193
Jan 23, 2015 referred to local government

Votes

view votes

Mar 3, 2015 - Local Government committee Vote

S2449
5
2
committee
5
Aye
2
Nay
2
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Local Government committee vote details

Local Government Committee Vote: Mar 3, 2015

nay (2)
aye wr (2)

Co-Sponsors

S2449 (ACTIVE) - Details

See Assembly Version of this Bill:
A4805
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §425, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: S6347, A8624
2017-2018: A2760
2019-2020: A4820

S2449 (ACTIVE) - Summary

Permits a STAR exemption for property owned by a limited liability company where the limited liability company is owned by a person to whom the exemption would have otherwise been granted.

S2449 (ACTIVE) - Sponsor Memo

S2449 (ACTIVE) - Bill Text download pdf

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

                                  2449

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 23, 2015
                               ___________

Introduced  by  Sen.  FARLEY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN ACT to amend the real property tax law, in relation to a real proper-
  ty tax exemption for property 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.  Subdivision 3 of section 425 of the real property tax law
is amended by adding a new paragraph (e-1) to read as follows:
  (E-1) DWELLINGS OWNED BY A LIMITED LIABILITY COMPANY. IF  LEGAL  TITLE
TO  A  DWELLING  IS  HELD  BY A LIMITED LIABILITY COMPANY, THE EXEMPTION
SHALL BE GRANTED IF THE PROPERTY SERVES AS THE PRIMARY RESIDENCE OF  ONE
OR  MORE  OF THE MEMBERS OF THE LIMITED LIABILITY COMPANY, PROVIDED THAT
THE MEMBER OR MEMBERS WHO PRIMARILY RESIDE THEREON PERSONALLY PAY ALL OF
THE REAL PROPERTY TAXES AND OTHER COSTS ASSOCIATED WITH  THE  PROPERTY'S
OWNERSHIP.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03598-01-5

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