The New York State Senate

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

                                  3443

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            January 27, 2017
                               ___________

Introduced  by  M. of A. SKOUFIS, ZEBROWSKI -- read once and referred to
  the Committee on Ways and Means

AN ACT to amend the tax law and the administrative code of the  city  of
  New York, in relation to real property transfer tax returns of limited
  liability companies

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

  Section 1.  Subdivision (a) of section 1409 of the tax law, as amended
by chapter 309 of the laws of 1996, is amended to read as follows:
  (a) A joint return shall be filed by both the grantor and the  grantee
for  each  conveyance  whether  or not a tax is due thereon other than a
conveyance of an easement or license to a public utility as  defined  in
subdivision  two  of section one hundred eighty-six-a of this chapter or
to a public utility which is a provider of telecommunication services as
defined in subdivision one of section one hundred eighty-six-e  of  this
chapter,  where  the consideration is two dollars or less and is clearly
stated as actual consideration in the instrument of conveyance. WHEN THE
GRANTOR OR GRANTEE OF A DEED FOR RESIDENTIAL  REAL  PROPERTY  CONTAINING
ONE-  TO  FOUR-FAMILY DWELLING UNITS IS A LIMITED LIABILITY COMPANY, THE
JOINT RETURN SHALL NOT BE ACCEPTED FOR FILING UNLESS IT  IS  ACCOMPANIED
BY  A  DOCUMENT WHICH IDENTIFIES THE NAMES AND BUSINESS ADDRESSES OF ALL
MEMBERS, MANAGERS, AND ANY OTHER AUTHORIZED PERSONS,  IF  ANY,  OF  SUCH
LIMITED  LIABILITY  COMPANY  AND THE NAMES AND BUSINESS ADDRESSES OR, IF
NONE, THE BUSINESS ADDRESSES OF ALL SHAREHOLDERS,  DIRECTORS,  OFFICERS,
MEMBERS, MANAGERS AND PARTNERS OF ANY LIMITED LIABILITY COMPANY OR OTHER
BUSINESS  ENTITY  THAT  ARE  TO  BE  THE MEMBERS, MANAGERS OR AUTHORIZED
PERSONS, IF ANY, OF SUCH LIMITED LIABILITY COMPANY.  THE  IDENTIFICATION
OF  SUCH NAMES AND ADDRESSES SHALL NOT BE DEEMED AN UNWARRANTED INVASION
OF PERSONAL PRIVACY PURSUANT TO ARTICLE SIX OF THE PUBLIC OFFICERS  LAW.
IF  ANY SUCH MEMBER, MANAGER OR AUTHORIZED PERSON OF THE LIMITED LIABIL-
ITY COMPANY IS ITSELF A LIMITED  LIABILITY  COMPANY  OR  OTHER  BUSINESS

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

                                                           LBD02404-01-7

A. 3443                             2

ENTITY,  THE  NAMES  AND ADDRESSES OF THE SHAREHOLDERS, DIRECTORS, OFFI-
CERS, MEMBERS, MANAGERS AND PARTNERS OF THE LIMITED LIABILITY COMPANY OR
OTHER BUSINESS ENTITY SHALL ALSO BE DISCLOSED UNTIL FULL  DISCLOSURE  OF
ULTIMATE  OWNERSHIP BY NATURAL PERSONS IS ACHIEVED. FOR PURPOSES OF THIS
SUBDIVISION,  THE  TERMS  "MEMBERS",  "MANAGERS",  "AUTHORIZED  PERSON",
"LIMITED  LIABILITY  COMPANY" AND "OTHER BUSINESS ENTITY" SHALL HAVE THE
SAME MEANING AS THOSE TERMS ARE DEFINED IN SECTION ONE  HUNDRED  TWO  OF
THE  LIMITED  LIABILITY  COMPANY LAW. The return shall be filed with the
recording officer before the instrument effecting the conveyance may  be
recorded.  However,  if  the tax is paid to the commissioner pursuant to
section fourteen hundred ten of this article, the return shall be  filed
with  such commissioner at the time the tax is paid. In that instance, a
receipt evidencing the filing of the return and the payment of tax shall
be filed with the recording officer before the instrument effecting  the
conveyance  may  be  recorded.  The  recording officer shall handle such
receipt in the same manner as a return filed with the recording officer.
  § 2. Section 11-2105 of the administrative code of  the  city  of  New
York is amended by adding a new subdivision h to read as follows:
  H. WHEN THE GRANTOR OR GRANTEE OF A DEED FOR RESIDENTIAL REAL PROPERTY
CONTAINING  ONE-  TO  FOUR-FAMILY  DWELLING UNITS IS A LIMITED LIABILITY
COMPANY, THE JOINT RETURN SHALL NOT BE ACCEPTED FOR FILING UNLESS IT  IS
ACCOMPANIED  BY  A  DOCUMENT  WHICH  IDENTIFIES  THE  NAMES AND BUSINESS
ADDRESSES OF ALL MEMBERS, MANAGERS, AND ANY OTHER AUTHORIZED PERSONS, IF
ANY, OF SUCH LIMITED  LIABILITY  COMPANY  AND  THE  NAMES  AND  BUSINESS
ADDRESSES  OR,  IF  NONE,  THE  BUSINESS  ADDRESSES OF ALL SHAREHOLDERS,
DIRECTORS, OFFICERS, MEMBERS,  MANAGERS  AND  PARTNERS  OF  ANY  LIMITED
LIABILITY  COMPANY  OR OTHER BUSINESS ENTITY THAT ARE TO BE THE MEMBERS,
MANAGERS OR AUTHORIZED PERSONS, IF ANY, OF SUCH LIMITED LIABILITY COMPA-
NY.  THE IDENTIFICATION OF SUCH NAMES AND ADDRESSES SHALL NOT BE  DEEMED
AN  UNWARRANTED  INVASION OF PERSONAL PRIVACY PURSUANT TO ARTICLE SIX OF
THE PUBLIC OFFICERS LAW.   IF ANY SUCH  MEMBER,  MANAGER  OR  AUTHORIZED
PERSON  OF  THE  LIMITED LIABILITY COMPANY IS ITSELF A LIMITED LIABILITY
COMPANY OR OTHER BUSINESS ENTITY, THE NAMES AND ADDRESSES OF THE  SHARE-
HOLDERS,  DIRECTORS,  OFFICERS,  MEMBERS,  MANAGERS  AND PARTNERS OF THE
LIMITED LIABILITY  COMPANY  OR  OTHER  BUSINESS  ENTITY  SHALL  ALSO  BE
DISCLOSED UNTIL FULL DISCLOSURE OF ULTIMATE OWNERSHIP BY NATURAL PERSONS
IS  ACHIEVED.  FOR  PURPOSES  OF  THIS SUBDIVISION, THE TERMS "MEMBERS",
"MANAGERS", "AUTHORIZED PERSON", "LIMITED LIABILITY COMPANY" AND  "OTHER
BUSINESS  ENTITY" SHALL HAVE THE SAME MEANING AS THOSE TERMS ARE DEFINED
IN SECTION ONE HUNDRED TWO OF THE LIMITED LIABILITY COMPANY LAW.
  § 3. This act shall take effect immediately.