Senate Bill S1756

2019-2020 Legislative Session

Exempts mortgages of residential real property from taxation when property is purchased by owners receiving state or federal buyout of prior residence destroyed in hurricane Sandy

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations 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

2019-S1756 (ACTIVE) - Details

Current Committee:
Senate Investigations And Government Operations
Law Section:
Tax Law
Laws Affected:
Amd §252, Tax L
Versions Introduced in Other Legislative Sessions:
2013-2014: S5970
2015-2016: S3731
2017-2018: S3310
2021-2022: S4919
2023-2024: S4215

2019-S1756 (ACTIVE) - Summary

Exempts mortgages of residential real property from taxation when property is purchased by owners receiving state or federal buyout of their prior residence destroyed in hurricane Sandy.

2019-S1756 (ACTIVE) - Sponsor Memo

2019-S1756 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1756
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 16, 2019
                                ___________
 
 Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment Operations
 
 AN ACT to amend the tax law, in relation to granting an  exemption  from
   the  tax  on  mortgages  for  residential  real  property purchased by
   persons receiving federal and/or state buyouts of their residence as a
   result of damage caused by hurricane Sandy in  October  of  2012;  and
   providing for the repeal of such provisions upon expiration thereof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 252 of the tax law  is  amended  by  adding  a  new
 subdivision 3 to read as follows:
   (3)  (A)  NOTWITHSTANDING  THE  PROVISIONS  OF SUBDIVISION ONE OF THIS
 SECTION, THE GOVERNING BODY OF ANY MUNICIPALITY ACTING THROUGH ITS LOCAL
 LEGISLATIVE BODY OR OTHER GOVERNING AGENCY,  IS  HEREBY  AUTHORIZED  AND
 EMPOWERED TO ADOPT AND AMEND LOCAL LAWS OR ORDINANCES TO EXEMPT FROM THE
 TAXES IMPOSED BY THIS ARTICLE THE MORTGAGE OF RESIDENTIAL REAL PROPERTY,
 WHEN  SUCH  REAL PROPERTY IS PURCHASED AND IS TO BE OCCUPIED BY AN OWNER
 OR OWNERS WHO HAVE RECEIVED, OR FOR WHOM A FINAL DETERMINATION HAS  BEEN
 MADE  AND  WILL  RECEIVE,  FEDERALLY AND/OR STATE FUNDED BUYOUTS OF SUCH
 OWNER OR OWNERS' PREVIOUS RESIDENTIAL REAL PROPERTY WHICH WAS DAMAGED OR
 DESTROYED AS A RESULT OF HURRICANE SANDY DURING OCTOBER OF TWO  THOUSAND
 TWELVE.
   (B)  ANY  PERSON  WHO AFTER OCTOBER TWENTY-SECOND, TWO THOUSAND TWELVE
 AND BEFORE THE EFFECTIVE DATE OF THIS SUBDIVISION, WHO  WOULD  OTHERWISE
 QUALIFY  UNDER  PARAGRAPH  (A) OF THIS SUBDIVISION, AND WHO HAS PAID ANY
 TAXES IMPOSED BY THIS ARTICLE, SHALL BE ENTITLED TO RECEIVE A REIMBURSE-
 MENT OF ALL SUCH TAXES PAID FROM THE COUNTY CLERK OR COUNTY TREASURER OF
 THE RESPECTIVE COUNTY WHERE SUCH TAXES WERE PAID IN THE SAME  MANNER  AS
 PROVIDED IN SECTION TWO HUNDRED FIFTY-SEVEN-A OF THIS ARTICLE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00237-01-9
              

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.