S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7297
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 22, 2019
                                ___________
 
 Introduced by M. of A. CUSICK -- read once and referred to the Committee
   on Cities
 
 AN  ACT to amend the general municipal law, in relation to the exclusion
   of uncollectible taxes from the limitation on real estate taxes in New
   York city
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  3-b  of  the general municipal law is amended by
 adding three new subdivisions 3, 4 and 5 to read as follows:
   3. THE AMOUNT TO BE RAISED BY TAX ON REAL ESTATE IN  ANY  FISCAL  YEAR
 COMMENCING  ON OR AFTER JULY FIRST, TWO THOUSAND NINETEEN BY THE CITY OF
 NEW YORK  AND  THE  COUNTIES  CONTAINED  THEREIN  FOR  CITY  AND  COUNTY
 PURPOSES, IN ADDITION TO PROVIDING FOR THE INTEREST ON AND THE PRINCIPAL
 OF  ALL INDEBTEDNESS DESCRIBED IN SUBDIVISION ONE OF THIS SECTION, SHALL
 ONLY INCLUDE AN ADDITIONAL AMOUNT FOR A RESERVE FOR THOSE  TAXES,  WHICH
 IT ESTIMATES IN EACH BUDGET YEAR IN GOOD FAITH WILL BE UNCOLLECTIBLE FOR
 THE  PAYMENT OF SUCH INDEBTEDNESS, MINUS ANY AMOUNT COLLECTED DURING THE
 FISCAL YEAR BY THE CITY OF NEW YORK FROM PRIOR LEVIES INCLUDING BY  REAL
 PROPERTY TAX LIEN SALES.
   4.  FOR  PURPOSES OF THIS SECTION, THE TERM "UNCOLLECTIBLE" SHALL MEAN
 AN ESTIMATE OF THE AMOUNT THAT TAXPAYERS DO NOT PAY BECAUSE THEY  CANNOT
 PAY OR BECAUSE THEY CHOOSE NOT TO PAY.
   5.  THE  RESERVE WHICH THE CITY OF NEW YORK AND THE COUNTIES CONTAINED
 THEREIN ESTIMATES SHALL BE UNCOLLECTIBLE FOR THE PAYMENT OF SUCH INDEBT-
 EDNESS SHALL NOT INCLUDE ANY ABATEMENT OR EXEMPTION  AMOUNTS  INCLUDING,
 BUT  NOT  LIMITED  TO,  THOSE  ABATEMENT AMOUNTS AS AUTHORIZED BY:   (A)
 SECTION FOUR HUNDRED SIXTY-SEVEN-A OF THE REAL  PROPERTY  TAX  LAW;  (B)
 SECTION  FOUR  HUNDRED  SIXTY-SEVEN-B  OF THE REAL PROPERTY TAX LAW; (C)
 SECTION FOUR HUNDRED SIXTY-SEVEN-C OF THE REAL  PROPERTY  TAX  LAW;  (D)
 SECTION  FOUR  HUNDRED  SIXTY-SEVEN-F  OF THE REAL PROPERTY TAX LAW; (E)
 SECTION FOUR HUNDRED SIXTY-SEVEN-H OF THE REAL  PROPERTY  TAX  LAW;  (F)
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD07441-01-9

 A. 7297                             2
 
 SECTION  FOUR  HUNDRED  SIXTY-SEVEN-I  OF THE REAL PROPERTY TAX LAW; (G)
 SECTION FOUR HUNDRED EIGHTY-NINE OF  THE  REAL  PROPERTY  TAX  LAW;  (H)
 SECTION  FOUR  HUNDRED  NINETY-NINE-B  OF THE REAL PROPERTY TAX LAW; (I)
 SECTION  SIXTY-FIVE  OF  CHAPTER  TWENTY  OF  THE  LAWS  OF TWO THOUSAND
 FIFTEEN, OR ANY OTHER STATUTE AUTHORIZING THE ABATEMENT OR EXEMPTION  OF
 REAL PROPERTY TAXES.
   § 2. This act shall take effect immediately.