Senate Bill S5874

2017-2018 Legislative Session

Relates to limited-profit housing companies and tax exemptions

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

2017-S5874 (ACTIVE) - Details

See Assembly Version of this Bill:
A9757
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Private Housing Finance Law
Laws Affected:
Amd §33, Priv Hous Fin L; amd §§458-a & 467, RPT L; amd §11-245.4, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2013-2014: A9306
2015-2016: A52
2019-2020: S3913

2017-S5874 (ACTIVE) - Summary

Relates to limited-profit housing companies and tax exemptions.

2017-S5874 (ACTIVE) - Sponsor Memo

2017-S5874 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5874
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                                May 4, 2017
                                ___________
 
 Introduced  by Sen. STAVISKY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Housing, Construction  and
   Community Development
 
 AN  ACT  to amend the private housing finance law, the real property tax
   law and the administrative code of the city of New York,  in  relation
   to limited-profit housing companies and tax exemptions
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 33 of the private housing finance law is amended by
 adding a new subdivision 7 to read as follows:
   7. NOTHING CONTAINED IN THIS SECTION SHALL BE CONSTRUED  TO  LIMIT  OR
 OTHERWISE  IMPAIR  THE  BENEFITS  AVAILABLE  TO  ANY COMPANY OR RESIDENT
 ELIGIBLE FOR EXEMPTION FROM TAXATION PURSUANT TO SECTIONS  FOUR  HUNDRED
 TWENTY-FIVE,  FOUR HUNDRED FIFTY-EIGHT, FOUR HUNDRED FIFTY-NINE AND FOUR
 HUNDRED SIXTY-SEVEN OF THE REAL PROPERTY TAX LAW.
   § 2. Paragraph (c) of subdivision 6 of section 458-a of the real prop-
 erty tax law, as added by chapter 171 of the laws of 1997, is amended to
 read as follows:
   (c) [Notwithstanding paragraph (b) of this subdivision, a]  A  tenant-
 stockholder  who resides in a dwelling that is subject to the provisions
 of either article two, four, five  or  eleven  of  the  private  housing
 finance  law  shall  [not] be eligible for an exemption pursuant to this
 section.
   § 3. Paragraph (c) of subdivision 3-a of section 467 of the real prop-
 erty tax law, as amended by chapter 49 of the laws of 1996,  is  amended
 to read as follows:
   (c)  Real property may be exempt from taxation pursuant to this subdi-
 vision by a municipality in which such property is located only  if  the
 governing  board  of  such  municipality, after public hearing, adopts a
 local law, ordinance or resolution providing therefor.  [Notwithstanding
 any provision of law to the contrary, any] ANY local law,  ordinance  or
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.