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Assembly Bill A1288

2017-2018 Legislative Session

Allows localities discretion in granting business investment exemptions

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Archive: Last Bill Status - In Assembly Committee

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2017-A1288 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §485-b, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: A2395
2011-2012: A801
2013-2014: A1025
2015-2016: A461
2019-2020: A2380

2017-A1288 (ACTIVE) - Summary

Allows localities discretion in granting business investment exemptions on property tax by passing a resolution allowing the exemption for one or more of the following categories or classes: buying or selling of goods or services; the storing or developing of goods or services; the manufacturing or assembly of goods; or the processing of raw materials.

2017-A1288 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1288
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 11, 2017
                                ___________
 
 Introduced  by M. of A. GANTT -- read once and referred to the Committee
   on Real Property Taxation
 
 AN ACT to amend the real property  tax  law,  in  relation  to  allowing
   localities discretion in granting business investment exemptions
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 1 of section 485-b of  the  real  property  tax
 law,  as  amended by chapter 488 of the laws of 1998, is amended to read
 as follows:
   1. Real property constructed, altered, installed  or  improved  subse-
 quent  to  the  first  day of July, nineteen hundred seventy-six for the
 purpose of commercial, business or industrial activity shall  be  exempt
 from taxation and special ad valorem levies, except for special ad valo-
 rem  levies  for  fire district, fire protection district and fire alarm
 district purposes, to the extent hereinafter  provided  IF  THE  COUNTY,
 CITY,  TOWN  OR  VILLAGE,  BY LOCAL LAW, AND A SCHOOL DISTRICT, EXCEPT A
 CITY SCHOOL DISTRICT TO WHICH ARTICLE FIFTY-TWO  OF  THE  EDUCATION  LAW
 APPLIES,  BY  RESOLUTION, APPROVES SUCH EXEMPTION FOR ONE OR MORE OF THE
 FOLLOWING PURPOSES: (A) THE BUYING OR SELLING OF GOODS OR  SERVICES;  OR
 (B)  THE STORING OR DEVELOPING OF GOODS OR SERVICES; OR (C) THE MANUFAC-
 TURE OR ASSEMBLY OF GOODS; OR (D) THE PROCESSING OF RAW MATERIALS.
   § 2. Subdivision 3 of section 485-b of the real property tax  law,  as
 amended  by  chapter  440 of the laws of 1993, and as further amended by
 subdivision (b) of section 1 of part W of chapter  56  of  the  laws  of
 2010, is amended to read as follows:
   3.  [Such]  UPON  PASSAGE OF A LOCAL LAW OR RESOLUTION, AS REQUIRED BY
 SUBDIVISION ONE OF THIS SECTION, SUCH exemption shall  be  granted  only
 upon application by the owner of such real property on a form prescribed
 by  the commissioner.  Such application shall be filed with the assessor
 of the city, town, village, or county having the power to assess proper-
 ty for taxation on or before the appropriate taxable status date of such
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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