Senate Bill S7880

Signed By Governor
2015-2016 Legislative Session

Relates to exempting the real property of a land bank from certain tax levies and special assessments

download bill text pdf

Sponsored By

Archive: Last Bill Status - 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-S7880 (ACTIVE) - Details

See Assembly Version of this Bill:
A10375
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd §1608, N-PC L

2015-S7880 (ACTIVE) - Summary

Exempts the real property of a land bank from all special ad valorem levies and special assessments as defined in section one hundred two of the real property tax law.

2015-S7880 (ACTIVE) - Sponsor Memo

2015-S7880 (ACTIVE) - Bill Text download pdf 

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

                                  7880

                            I N  S E N A T E

                              May 19, 2016
                               ___________

Introduced  by  Sen. VALESKY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Corporations,  Authorities
  and Commissions

AN  ACT  to  amend  the  not-for-profit  corporation law, in relation to
  exempting the real property of a land bank from certain tax levies and
  special assessments

  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 if the not-for-profit corpo-
ration law, as amended by chapter 407 of the laws of 2015, 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.    THE  REAL  PROPERTY  OF A LAND BANK SHALL BE
EXEMPT FROM ALL SPECIAL AD VALOREM LEVIES  AND  SPECIAL  ASSESSMENTS  AS
DEFINED  IN  SECTION  ONE  HUNDRED  TWO  OF  THE  REAL PROPERTY TAX LAW.
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. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15538-01-6

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