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Assembly Bill A5062

2017-2018 Legislative Session

Authorizes the reduction of assessed value of land subject to a conservation easement conveyed to not-for-profit conservation organization

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Archive: Last Bill Status - In Assembly Committee

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2017-A5062 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Add §533-a, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: A5717
2015-2016: A3674
2019-2020: A5349

2017-A5062 (ACTIVE) - Summary

Authorizes the reduction of assessed value of land subject to a conservation easement conveyed to not-for-profit conservation organization.

2017-A5062 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5062
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 6, 2017
                                ___________
 
 Introduced by M. of A. DiPIETRO -- read once and referred to the Commit-
   tee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to establishing a
   reduction in the assessed value of lands burdened by certain conserva-
   tion easements
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The real property tax  law  is  amended  by  adding  a  new
 section 533-a to read as follows:
   §  533-A.  ASSESSMENT  OF  CONSERVATION  EASEMENTS CONVEYED TO CERTAIN
 ORGANIZATIONS. NOTWITHSTANDING THE PROVISIONS OF  SECTION  FIVE  HUNDRED
 THIRTY-THREE  OF  THIS TITLE, UPON CONVEYANCE OF A CONSERVATION EASEMENT
 TO A NOT-FOR-PROFIT CONSERVATION ORGANIZATION, THE ASSESSED VALUE OF THE
 INTEREST IN EACH SUBJECT PARCEL RETAINED BY THE GRANTOR OF SUCH EASEMENT
 SHALL BE MODIFIED TO EFFECT THE CHANGE, IF ANY,  IN  THE  VALUE  OF  THE
 LANDS SUBJECT TO SUCH CONSERVATION EASEMENT.
   §  2.  This  act shall take effect on the thirtieth day after it shall
 have become a law and shall apply  to  the  conveyance  of  conservation
 easements on or after such date.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05867-01-7

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