The New York State Senate

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1730

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            January 16, 2019
                               ___________

Introduced  by  Sen. SKOUFIS -- 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 and the administrative code of the  city  of
  New York, in relation to real property transfer tax returns of limited
  liability companies

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  Subdivision (a) of section 1409 of the tax law, as amended
by chapter 309 of the laws of 1996, is amended to read as follows:
  (a) A joint return shall be filed by both the grantor and the  grantee
for  each  conveyance  whether  or not a tax is due thereon other than a
conveyance of an easement or license to a public utility as  defined  in
subdivision  two  of section one hundred eighty-six-a of this chapter or
to a public utility which is a provider of telecommunication services as
defined in subdivision one of section one hundred eighty-six-e  of  this
chapter,  where  the consideration is two dollars or less and is clearly
stated as actual consideration in the instrument of conveyance. WHEN THE
GRANTOR OR GRANTEE OF A DEED FOR RESIDENTIAL  REAL  PROPERTY  CONTAINING
ONE-  TO  FOUR-FAMILY DWELLING UNITS IS A LIMITED LIABILITY COMPANY, THE
JOINT RETURN SHALL NOT BE ACCEPTED FOR FILING UNLESS IT  IS  ACCOMPANIED
BY  A  DOCUMENT WHICH IDENTIFIES THE NAMES AND BUSINESS ADDRESSES OF ALL
MEMBERS, MANAGERS, AND ANY OTHER AUTHORIZED PERSONS,  IF  ANY,  OF  SUCH
LIMITED  LIABILITY  COMPANY  AND THE NAMES AND BUSINESS ADDRESSES OR, IF
NONE, THE BUSINESS ADDRESSES OF ALL SHAREHOLDERS,  DIRECTORS,  OFFICERS,
MEMBERS, MANAGERS AND PARTNERS OF ANY LIMITED LIABILITY COMPANY OR OTHER
BUSINESS  ENTITY  THAT  ARE  TO  BE  THE MEMBERS, MANAGERS OR AUTHORIZED
PERSONS, IF ANY, OF SUCH LIMITED LIABILITY COMPANY.  THE  IDENTIFICATION
OF  SUCH NAMES AND ADDRESSES SHALL NOT BE DEEMED AN UNWARRANTED INVASION
OF PERSONAL PRIVACY PURSUANT TO ARTICLE SIX OF THE PUBLIC OFFICERS  LAW.
IF  ANY SUCH MEMBER, MANAGER OR AUTHORIZED PERSON OF THE LIMITED LIABIL-

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

                                                           LBD06386-01-9

S. 1730                             2

ITY COMPANY IS ITSELF A LIMITED  LIABILITY  COMPANY  OR  OTHER  BUSINESS
ENTITY,  THE  NAMES  AND ADDRESSES OF THE SHAREHOLDERS, DIRECTORS, OFFI-
CERS, MEMBERS, MANAGERS AND PARTNERS OF THE LIMITED LIABILITY COMPANY OR
OTHER  BUSINESS  ENTITY SHALL ALSO BE DISCLOSED UNTIL FULL DISCLOSURE OF
ULTIMATE OWNERSHIP BY NATURAL PERSONS IS ACHIEVED. FOR PURPOSES OF  THIS
SUBDIVISION,  THE  TERMS  "MEMBERS",  "MANAGERS",  "AUTHORIZED  PERSON",
"LIMITED LIABILITY COMPANY" AND "OTHER BUSINESS ENTITY" SHALL  HAVE  THE
SAME  MEANING  AS  THOSE TERMS ARE DEFINED IN SECTION ONE HUNDRED TWO OF
THE LIMITED LIABILITY COMPANY LAW. The return shall be  filed  with  the
recording  officer before the instrument effecting the conveyance may be
recorded. However, if the tax is paid to the  commissioner  pursuant  to
section  fourteen hundred ten of this article, the return shall be filed
with such commissioner at the time the tax is paid. In that instance,  a
receipt evidencing the filing of the return and the payment of tax shall
be  filed with the recording officer before the instrument effecting the
conveyance may be recorded. The  recording  officer  shall  handle  such
receipt in the same manner as a return filed with the recording officer.
  §  2.  Section  11-2105  of the administrative code of the city of New
York is amended by adding a new subdivision h to read as follows:
  H. WHEN THE GRANTOR OR GRANTEE OF A DEED FOR RESIDENTIAL REAL PROPERTY
CONTAINING ONE- TO FOUR-FAMILY DWELLING UNITS  IS  A  LIMITED  LIABILITY
COMPANY,  THE JOINT RETURN SHALL NOT BE ACCEPTED FOR FILING UNLESS IT IS
ACCOMPANIED BY A  DOCUMENT  WHICH  IDENTIFIES  THE  NAMES  AND  BUSINESS
ADDRESSES OF ALL MEMBERS, MANAGERS, AND ANY OTHER AUTHORIZED PERSONS, IF
ANY,  OF  SUCH  LIMITED  LIABILITY  COMPANY  AND  THE NAMES AND BUSINESS
ADDRESSES OR, IF NONE,  THE  BUSINESS  ADDRESSES  OF  ALL  SHAREHOLDERS,
DIRECTORS,  OFFICERS,  MEMBERS,  MANAGERS  AND  PARTNERS  OF ANY LIMITED
LIABILITY COMPANY OR OTHER BUSINESS ENTITY THAT ARE TO BE  THE  MEMBERS,
MANAGERS OR AUTHORIZED PERSONS, IF ANY, OF SUCH LIMITED LIABILITY COMPA-
NY.   THE IDENTIFICATION OF SUCH NAMES AND ADDRESSES SHALL NOT BE DEEMED
AN UNWARRANTED INVASION OF PERSONAL PRIVACY PURSUANT TO ARTICLE  SIX  OF
THE  PUBLIC  OFFICERS  LAW.    IF ANY SUCH MEMBER, MANAGER OR AUTHORIZED
PERSON OF THE LIMITED LIABILITY COMPANY IS ITSELF  A  LIMITED  LIABILITY
COMPANY  OR OTHER BUSINESS ENTITY, THE NAMES AND ADDRESSES OF THE SHARE-
HOLDERS, DIRECTORS, OFFICERS, MEMBERS,  MANAGERS  AND  PARTNERS  OF  THE
LIMITED  LIABILITY  COMPANY  OR  OTHER  BUSINESS  ENTITY  SHALL  ALSO BE
DISCLOSED UNTIL FULL DISCLOSURE OF ULTIMATE OWNERSHIP BY NATURAL PERSONS
IS ACHIEVED. FOR PURPOSES OF  THIS  SUBDIVISION,  THE  TERMS  "MEMBERS",
"MANAGERS",  "AUTHORIZED PERSON", "LIMITED LIABILITY COMPANY" AND "OTHER
BUSINESS ENTITY" SHALL HAVE THE SAME MEANING AS THOSE TERMS ARE  DEFINED
IN SECTION ONE HUNDRED TWO OF THE LIMITED LIABILITY COMPANY LAW.
  § 3. This act shall take effect immediately.