Assembly Actions -
Senate Actions - UPPERCASE
|Jan 08, 2020||
referred to cities
|Jan 16, 2019||
referred to cities
Senate Bill S1758
2019-2020 Legislative Session
Archive: Last Bill Status - In Senate Committee Cities Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2019-S1758 (ACTIVE) - Details
2019-S1758 (ACTIVE) - Sponsor Memo
BILL NUMBER: S1758 SPONSOR: LANZA TITLE OF BILL: An act to amend the general municipal law and the municipal home rule law, in relation to establishing limitations upon real property tax levies in cities with a population of one million or more PURPOSE OR GENERAL IDEA OF BILL: This bill would control the ever-rising property tax by limiting the amount by which the City of New York may increase property taxes each year. SUMMARY OF SPECIFIC PROVISIONS: Section 1 of the bill would add a new § 3-e to the General Municipal Law to establish a real property tax levy cap for New York City. Under the property tax levy cap:
2019-S1758 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1758 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 Cities AN ACT to amend the general municipal law and the municipal home rule law, in relation to establishing limitations upon real property tax levies in cities with a population of one million or more THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The general municipal law is amended by adding a new section 3-e to read as follows: § 3-E. LIMITATION UPON REAL PROPERTY TAX LEVIES BY CITIES HAVING A POPULATION OF ONE MILLION OR MORE. 1. UNLESS OTHERWISE PROVIDED BY LAW, THE AMOUNT OF REAL PROPERTY TAXES THAT MAY BE LEVIED BY OR ON BEHALF OF ANY CITY HAVING A POPULATION OF ONE MILLION OR MORE SHALL NOT EXCEED THE TAX LEVY LIMITATION ESTABLISHED PURSUANT TO THIS SECTION. 2. WHEN USED IN THIS SECTION: (A) "ALLOWABLE LEVY GROWTH FACTOR" SHALL BE THE LESSER OF: (I) ONE AND TWO ONE-HUNDREDTHS; OR (II) THE SUM OF ONE PLUS THE INFLATION FACTOR; PROVIDED, HOWEVER, THAT IN NO CASE SHALL THE LEVY GROWTH FACTOR BE LESS THAN ONE. (B) "APPROVED CAPITAL EXPENDITURES" MEANS THE EXPENDITURES ASSOCIATED WITH CAPITAL PROJECTS THAT HAVE BEEN APPROVED BY THE QUALIFIED VOTERS OF THE LOCAL GOVERNMENT. (C) "AVAILABLE CARRYOVER" MEANS THE SUM OF THE AMOUNT BY WHICH THE TAX LEVY FOR THE PRIOR FISCAL YEAR WAS BELOW THE TAX LEVY LIMIT FOR SUCH FISCAL YEAR, IF ANY, BUT NO MORE THAN ONE AND ONE-HALF PERCENT OF THE TAX LEVY LIMIT FOR SUCH FISCAL YEAR. (D) "CAPITAL TAX LEVY" MEANS THE TAX LEVY NECESSARY TO SUPPORT CAPITAL EXPENDITURES, IF ANY. (E) "COMING FISCAL YEAR" MEANS THE FISCAL YEAR OF THE LOCAL GOVERNMENT FOR WHICH A TAX LEVY LIMITATION SHALL BE DETERMINED PURSUANT TO THIS SECTION. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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