NY State Senate Bill 2019-S6564

Senate Bill S6564

2019-2020 Legislative Session

Relates to a partial tax abatement for residential real property held in the cooperative or condominium form of ownership in the city of New York

download bill text pdf

Archive: Last Bill Status - In Senate Committee Local Government 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

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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 08, 2020	referred to local government
Jun 16, 2019	referred to rules

2019-S6564 (ACTIVE) - Details

Current Committee:: Senate Local Government
Law Section:: Real Property Tax Law
Laws Affected:: Amd §467-a, RPT L
Versions Introduced in 2021-2022 Legislative Session:: S2807

2019-S6564 (ACTIVE) - Summary

Relates to the application for a partial tax abatement for residential real property held in the cooperative or condominium form of ownership in the city of New York.

2019-S6564 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S6564

SPONSOR: KAVANAGH
 
TITLE OF BILL:  An act to amend the real property tax law, in relation
to a partial tax abatement for residential real property held in the
cooperative or condominium form of ownership in the city of New York

 
PURPOSE:

This bill would better ensure compliance with the requirement that only
units being used as primary residences receive the Cooperative and
Condominium Property Tax Abatement.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section one amends paragraph (a) of subdivision 1 of section 467-a of
the real property tax law to provide that the commissioner of finance
shall by rule designate the owner or shareholder of a unit as an appli-
cant for the purposes of submitting supplemental information to verify
eligibility for the abatement.

Section two amends paragraph (b) of subdivision 3 of section 467-a of
the real property tax law to provide that the commissioner of finance
shall by rule require the unit owner or shareholder submit an applica-
tion to supplement information contained in the application submitted by
the board of managers of a condominium or the board of directors of a
cooperative apartment corporation to certify as to that owner or share-
holder's eligibility for the abatement including but not limited to
primary residence status.

Section three sets forth the effective date.

 
PURPOSE AND JUSTIFICATION:

In 2013, the State added a new provision to the coop-condo tax abatement
program limiting eligibility to primary residences. To implement this
new requirement, the City's Department of Finance (DOF) placed the obli-
gation of primary residency verification on managing agents and boards.
These parties, however, typically are not equipped to accurately attest
to whether an individual owner or shareholder truly uses the unit as
their primary residence. As a result, abatements may be awarded to units
that are not actually the taxpayer's primary residence.

This bill would require that individual unit owners and shareholders,
rather than managing agents and boards, verify with DOF that the unit is
that taxpayer's primary residence. This will improve compliance with the
abatement program.

 
PRIOR LEGISLATIVE HISTORY:

New bill.

 
FISCAL IMPLICATIONS:

None to the state.

 
EFFECTIVE DATE:
Immediately.

2019-S6564 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6564
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                               June 16, 2019
                                ___________
 
 Introduced  by Sen. KAVANAGH -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the real property tax law, in relation to a partial  tax
   abatement  for  residential  real  property held in the cooperative or
   condominium form of ownership in the city of New York

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (a) of subdivision 1 of section 467-a of the real
 property  tax  law,  as  amended  by  chapter  4 of the laws of 2013, is
 amended to read as follows:
   (a) "Applicant" means the board of managers of a  condominium  or  the
 board  of  directors  of  a  cooperative apartment corporation, provided
 that, in addition, the commissioner  of  finance  [may]  SHALL  by  rule
 designate  the  owner  of a dwelling unit OR SHAREHOLDER OF A UNIT as an
 applicant FOR THE PURPOSES OF  SUBMITTING  SUPPLEMENTAL  INFORMATION  TO
 VERIFY  THE  ELIGIBILITY  OF THE OWNER OF THE UNIT OR SHAREHOLDER OF THE
 UNIT FOR THE ABATEMENT.
   § 2. Paragraph (b) of subdivision 3 of section 467-a of the real prop-
 erty tax law, as amended by chapter 4 of the laws of 2013, is amended to
 read as follows:
   (b) An application for an abatement pursuant to this section shall  be
 submitted  to  the commissioner of finance by the board of managers of a
 condominium or the board of directors of a cooperative apartment  corpo-
 ration,  provided  that  the commissioner of finance [may] SHALL by rule
 require the owner OR SHAREHOLDER of a dwelling unit to submit an  appli-
 cation  to supplement information contained in the application submitted
 by the board of managers of a condominium or the board of directors of a
 cooperative apartment corporation TO CERTIFY AS TO THAT OWNER OR  SHARE-
 HOLDER'S  ELIGIBILITY  FOR  THE  ABATEMENT  INCLUDING BUT NOT LIMITED TO
 PRIMARY RESIDENCE STATUS and may by rule apply and adjust, as  appropri-
 ate,  any provisions of this section that relate to applications submit-
 ted by such boards to applications submitted by such owners.
   § 3. This act shall take effect immediately.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13417-01-9

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