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Senate Bill S7663

2019-2020 Legislative Session

Relates to exempting certain real property owned or leased by a cooperative corporation or on a condominium basis from certain assessment provisions

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Sponsored By

Archive: Last Bill Status - In Senate Committee Local Government Committee

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2019-S7663 (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §581, RPT L
Versions Introduced in Other Legislative Sessions:
2021-2022: S1995
2023-2024: S2056

2019-S7663 (ACTIVE) - Summary

Exempts real property owned or leased by a cooperative corporation or on a condominium basis located in a city with a population of one million or more from certain assessment provisions.

2019-S7663 (ACTIVE) - Sponsor Memo

2019-S7663 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7663
 
                             I N  S E N A T E
 
                             February 4, 2020
                                ___________
 
 Introduced  by  Sen. JACKSON -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to amend the real property tax  law,  in  relation  to  exempting
   certain  real property owned or leased by a cooperative corporation or
   on a condominium basis from certain assessment provisions

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  581  of  the real property tax law is amended by
 adding a new subdivision 5 to read as follows:
   5. NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, REAL PROPERTY
 OWNED OR LEASED BY A COOPERATIVE CORPORATION OR ON A  CONDOMINIUM  BASIS
 LOCATED  IN A CITY WITH A POPULATION OF ONE MILLION OR MORE SHALL NOT BE
 SUBJECT TO THE PROVISIONS OF THIS SECTION.
   § 2. 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 such effective date.
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD15132-01-0

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