S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    223
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 9, 2019
                                ___________
 
 Introduced  by  M.  of  A.  BRAUNSTEIN  -- read once and referred to the
   Committee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation  to  coordinating
   the  treatment  of tax transparent entities eligible for real property
   tax abatements

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph  (b-1) of subdivision 2 of section 467-a of the
 real property tax law, as added by chapter 97 of the laws  of  2013,  is
 amended to read as follows:
   (b-1)  Notwithstanding any other provision of law to the contrary, the
 provisions of this section shall apply to  any  dwelling  unit  held  in
 trust  [solely]  OR BY A SINGLE MEMBER LIMITED LIABILITY COMPANY OR BY A
 LIMITED LIABILITY COMPANY IN WHICH  OWNERSHIP  IS  HELD  EXCLUSIVELY  BY
 SPOUSES  for the CURRENT benefit of a person or persons who would other-
 wise be eligible for an abatement, pursuant to this section,  were  such
 person  or  persons  the  owner  or  owners  of  such dwelling unit. FOR
 PURPOSES OF THIS PARAGRAPH, A TRUST SHALL BE DEEMED TO INCLUDE  A  LEGAL
 LIFE ESTATE.
   §  2.  Subdivision  7  of section 458 of the real property tax law, as
 added by chapter 377 of the laws of 1995, is amended to read as follows:
   7. Notwithstanding any other provision of law  to  the  contrary,  the
 provisions  of  this  section  shall  apply to any real property held in
 trust [solely] OR BY A SINGLE MEMBER LIMITED LIABILITY COMPANY OR  BY  A
 LIMITED  LIABILITY  COMPANY  IN  WHICH  OWNERSHIP IS HELD EXCLUSIVELY BY
 SPOUSES for the CURRENT benefit of a person or persons who would  other-
 wise be eligible for a real property tax exemption, pursuant to subdivi-
 sion  one, two or three of this section, were such person or persons the
 owner or owners of such real property.   FOR PURPOSES OF  THIS  SUBDIVI-
 SION, A TRUST SHALL BE DEEMED TO INCLUDE A LEGAL LIFE ESTATE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD02651-01-9

 A. 223                              2
 
   §  3.  Subdivision 5 of section 458-a of the real property tax law, as
 added by chapter 377 of the laws of 1995, is amended to read as follows:
   5.  Notwithstanding  any  other  provision of law to the contrary, the
 provisions of this section shall apply to  any  real  property  held  in
 trust  [solely]  OR BY A SINGLE MEMBER LIMITED LIABILITY COMPANY OR BY A
 LIMITED LIABILITY COMPANY IN WHICH  OWNERSHIP  IS  HELD  EXCLUSIVELY  BY
 SPOUSES  for the CURRENT benefit of a person or persons who would other-
 wise be eligible for a real property tax  exemption,  pursuant  to  this
 section,  were  such  person or persons the owner or owners of such real
 property.  FOR THE PURPOSES OF THIS SUBDIVISION, A TRUST SHALL BE DEEMED
 TO INCLUDE A LEGAL LIFE ESTATE.
   § 4. Subdivision 6 of section 458-b of the real property tax  law,  as
 added by chapter 235 of the laws of 2009, is amended to read as follows:
   6.  Notwithstanding  any  other  provision of law to the contrary, the
 provisions of this section shall apply to  any  real  property  held  in
 trust  [solely]  OR BY A SINGLE MEMBER LIMITED LIABILITY COMPANY OR BY A
 LIMITED LIABILITY COMPANY IN WHICH  OWNERSHIP  IS  HELD  EXCLUSIVELY  BY
 SPOUSES  for the CURRENT benefit of a person or persons who would other-
 wise be eligible for a real property tax  exemption,  pursuant  to  this
 section,  were  such  person or persons the owner or owners of such real
 property.  FOR PURPOSES OF THIS SUBDIVISION, A TRUST SHALL BE DEEMED  TO
 INCLUDE A LEGAL LIFE ESTATE.
   §  5.  Subdivision 9 of section 459-c of the real property tax law, as
 added by chapter 315 of the laws of 1997, is amended to read as follows:
   9. Notwithstanding any other provision of law  to  the  contrary,  the
 provisions  of  this  section shall apply to real property held in trust
 [solely] OR BY A SINGLE MEMBER LIMITED LIABILITY COMPANY OR BY A LIMITED
 LIABILITY COMPANY IN WHICH OWNERSHIP IS HELD EXCLUSIVELY BY SPOUSES  for
 the CURRENT benefit of a person or persons who would otherwise be eligi-
 ble  for  a  real property tax exemption, pursuant to subdivision one of
 this section, were such person or persons the owner or  owners  of  such
 real  property.    FOR  PURPOSES  OF  THIS SUBDIVISION, A TRUST SHALL BE
 DEEMED TO INCLUDE A LEGAL LIFE ESTATE.
   § 6. Subdivision 10 of section 467 of the real property  tax  law,  as
 amended  by  chapter  270  of  the  laws  of 1999, is amended to read as
 follows:
   10. Notwithstanding any other provision of law to  the  contrary,  the
 provisions  of  this  section  shall  apply to real property [in which a
 person or persons hold a legal life estate or which is]  held  in  trust
 [solely] OR BY A SINGLE MEMBER LIMITED LIABILITY COMPANY OR BY A LIMITED
 LIABILITY  COMPANY IN WHICH OWNERSHIP IS HELD EXCLUSIVELY BY SPOUSES for
 the CURRENT benefit of a person or persons if  such  person  or  persons
 would  otherwise be eligible for a real property tax exemption, pursuant
 to subdivision one of this section, were  such  person  or  persons  the
 owner  or  owners  of such real property.  FOR PURPOSES OF THIS SUBDIVI-
 SION, A TRUST SHALL BE DEEMED TO INCLUDE A LEGAL LIFE ESTATE.
   § 7. This act shall take effect on the first of January next  succeed-
 ing  the  date  on  which  it shall have become a law and shall apply to
 assessment rolls prepared on the basis of taxable status dates occurring
 on or after such effective date.