S T A T E O F N E W Y O R K
________________________________________________________________________
7514
2017-2018 Regular Sessions
I N A S S E M B L Y
April 28, 2017
___________
Introduced by M. of A. ZEBROWSKI, GALEF, SEPULVEDA, D'URSO -- Multi-
Sponsored by -- M. of A. HOOPER -- read once and referred to the
Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to providing
respondents the option to repay a court ordered refund in installments
of no more than five years
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph (a) of subdivision 5 of section 726 of the real
property tax law, as added by chapter 503 of the laws of 1996, is
amended to read as follows:
(a) If the [parties have so agreed] RESPONDENT REQUESTS, a final order
[may] SHALL provide that a refund which is payable pursuant to this
section shall be paid in installments over a specified period, not to
exceed five years. [The order may further provide, if the parties have
so agreed, that interest shall be paid on such installments, at the rate
provided by this section.] Each such installment shall be audited, paid
and charged back in the manner provided by this section.
§ 2. This act shall take effect on the first of January next succeed-
ing the date upon which it shall become a law.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD10994-01-7