Assembly Bill A5221A

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5221--A
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 7, 2019
                                ___________
 
 Introduced  by  M.  of  A. GALEF, STEC, ABINANTI, MAGNARELLI, SEAWRIGHT,
   RIVERA, HYNDMAN, WILLIAMS, D'URSO, COOK, STIRPE, BLAKE --  Multi-Spon-
   sored  by -- M. of A.  THIELE -- read once and referred to the Commit-
   tee on Real Property Taxation -- recommitted to the Committee on  Real
   Property  Taxation  in  accordance  with  Assembly  Rule  3, sec. 2 --
   committee discharged, bill amended, ordered reprinted as  amended  and
   recommitted to said committee
 
 AN  ACT to amend the real property tax law and the real property law, in
   relation to the taxation of property owned  by  a  cooperative  corpo-
   ration
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 1 of section 581 of the real property  tax  law
 is amended by adding a new paragraph (d) to read as follows:
   (D)  THE  PROVISIONS  OF  PARAGRAPH  (A) OF THIS SUBDIVISION SHALL NOT
 APPLY TO REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE  CORPORATION  OR
 ON  A CONDOMINIUM BASIS IN A MUNICIPAL CORPORATION, OTHER THAN A SPECIAL
 ASSESSING UNIT, WHICH HAS ADOPTED, PRIOR TO THE TAXABLE STATUS  DATE  OF
 THE ASSESSMENT ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW OR,
 FOR  A  SCHOOL  DISTRICT,  A RESOLUTION PROVIDING THAT THE PROVISIONS OF
 PARAGRAPH (A) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH REAL  PROPERTY
 WITHIN  THAT MUNICIPAL CORPORATION; PROVIDED, HOWEVER, THE PROVISIONS OF
 THIS PARAGRAPH SHALL NOT APPLY TO REAL PROPERTY OWNED  OR  LEASED  BY  A
 COOPERATIVE  CORPORATION  OR ON A CONDOMINIUM BASIS THAT HAD BEEN PREVI-
 OUSLY SUBJECT TO THE PROVISIONS OF PARAGRAPH  (A)  OF  THIS  SUBDIVISION
 PRIOR TO JANUARY FIRST, TWO THOUSAND TWENTY-ONE.
   §  2.  Subdivision  1  of  section  339-y  of the real property law is
 amended by adding a new paragraph (g) to read as follows:
   (G) THE PROVISIONS OF PARAGRAPH (B)  OF  THIS  SUBDIVISION  SHALL  NOT
 APPLY  TO  REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE CORPORATION OR
 ON A CONDOMINIUM BASIS IN A MUNICIPAL CORPORATION OTHER THAN  A  SPECIAL
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD08645-04-0

 A. 5221--A                          2
 
 ASSESSING  UNIT,  WHICH HAS ADOPTED, PRIOR TO THE TAXABLE STATUS DATE OF
 THE ASSESSMENT ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW OR,
 FOR A SCHOOL DISTRICT, A RESOLUTION PROVIDING  THAT  THE  PROVISIONS  OF
 PARAGRAPH  (B) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH REAL PROPERTY
 WITHIN THAT MUNICIPAL CORPORATION; PROVIDED, HOWEVER, THE PROVISIONS  OF
 THIS  PARAGRAPH  SHALL  NOT  APPLY TO REAL PROPERTY OWNED OR LEASED BY A
 COOPERATIVE CORPORATION OR ON A CONDOMINIUM BASIS THAT HAD  BEEN  PREVI-
 OUSLY  SUBJECT  TO  THE  PROVISIONS OF PARAGRAPH (B) OF THIS SUBDIVISION
 PRIOR TO JANUARY FIRST, TWO THOUSAND TWENTY-ONE.
   § 3. This act shall take effect immediately and shall apply to assess-
 ment rolls prepared on the basis of taxable status dates occurring on or
 after January 1, 2021.