senate Bill S1602

2017-2018 Legislative Session

Requires financial institutions to notify property tax assessors when they take possession of real property receiving a STAR exemption

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (12)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 06, 2018 reported and committed to finance
Jan 03, 2018 referred to local government
returned to senate
died in assembly
Jun 19, 2017 referred to real property taxation
delivered to assembly
passed senate
May 08, 2017 advanced to third reading
May 03, 2017 2nd report cal.
May 02, 2017 1st report cal.743
Mar 07, 2017 reported and committed to finance
Jan 10, 2017 referred to local government

Votes

view votes

Mar 6, 2018 - Local Government committee Vote

S1602
9
0
committee
9
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Local Government committee vote details

Local Government Committee Vote: Mar 6, 2018

May 2, 2017 - Finance committee Vote

S1602
35
0
committee
35
Aye
0
Nay
1
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Finance committee vote details

Mar 7, 2017 - Local Government committee Vote

S1602
9
0
committee
9
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Local Government committee vote details

Local Government Committee Vote: Mar 7, 2017

Co-Sponsors

S1602 (ACTIVE) - Details

See Assembly Version of this Bill:
A941
Current Committee:
Senate Finance
Law Section:
Real Property Tax Law
Laws Affected:
Amd §425, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: S7485, A9675
2015-2016: S326, A155

S1602 (ACTIVE) - Summary

Requires financial institutions to notify real property tax assessors when they take possession of real property receiving a STAR exemption.

S1602 (ACTIVE) - Sponsor Memo

S1602 (ACTIVE) - Bill Text download pdf


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

    S. 1602                                                   A. 941

                       2017-2018 Regular Sessions

                      S E N A T E - A S S E M B L Y

                            January 10, 2017
                               ___________

IN  SENATE -- Introduced by Sens. LAVALLE, MARCHIONE, RITCHIE, SEWARD --
  read twice and ordered printed, and when printed to  be  committed  to
  the Committee on Local Government

IN  ASSEMBLY  -- Introduced by M. of A. THIELE -- read once and referred
  to the Committee on Real Property Taxation

AN ACT to amend the real property tax law, in  relation  to  school  tax
  relief (STAR) exemptions

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

  Section 1. Section 425 of the real property  tax  law  is  amended  by
adding a new subdivision 17 to read as follows:
  17.  FINANCIAL  INSTITUTION.  (A) WHENEVER A FINANCIAL INSTITUTION, AS
DEFINED BY PARAGRAPH (E) OF SUBDIVISION TWO OF  SECTION  5-1501  OF  THE
GENERAL  OBLIGATIONS LAW, TAKES POSSESSION OF REAL PROPERTY WHICH QUALI-
FIES FOR AN EXEMPTION PURSUANT TO THIS SECTION, SUCH FINANCIAL  INSTITU-
TION  SHALL  NOTIFY  THE  ASSESSOR OR OTHER PERSON HAVING CUSTODY OF THE
ASSESSMENT ROLL IN THE LOCALITY IN WHICH SUCH REAL PROPERTY  IS  LOCATED
WITHIN  THIRTY DAYS OF TAKING SUCH POSSESSION, UPON WHICH SUCH EXEMPTION
SHALL BE IMMEDIATELY DISCONTINUED.
  (B) ANY FINANCIAL INSTITUTION THAT VIOLATES ANY PROVISION OF PARAGRAPH
(A) OF THIS SUBDIVISION SHALL BE LIABLE  FOR  A  CIVIL  PENALTY  NOT  TO
EXCEED FIVE THOUSAND DOLLARS.
  §  2.  This  act shall take effect on the thirtieth day after it shall
have become a law.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02101-01-7

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