Senate Bill S3060E

2019-2020 Legislative Session

Imposes a tax on the transfer of certain real property within two years of the prior transfer of such property

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Archive: Last Bill Status - In Senate Committee Cities 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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Bill Amendments

2019-S3060 - Details

See Assembly Version of this Bill:
A5375
Current Committee:
Senate Cities
Law Section:
New York City Administrative Code
Laws Affected:
Amd §11-2101, add §11-2120, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2017-2018: S6488, A7406
2021-2022: A3259
2023-2024: A2638

2019-S3060 - Summary

Imposes a tax on the transfer of certain real property within two years of the prior transfer of such property and provides for exemptions from such tax.

2019-S3060 - Sponsor Memo

2019-S3060 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3060
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 1, 2019
                                ___________
 
 Introduced  by  Sen. SALAZAR -- read twice and ordered printed, and when
   printed to be committed to the Committee on Cities
 
 AN ACT to amend the administrative code of the  city  of  New  York,  in
   relation  to a tax on the transfer of certain real property within two
   years of the prior transfer of such property

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section 11-2101 of the administrative code of the city of
 New York is amended by adding four new subdivisions 19, 20, 21 and 22 to
 read as follows:
   19. "PRIOR CONVEYANCE OF THE PROPERTY." THE MOST RECENT CONVEYANCE  OF
 THE  REAL  PROPERTY,  WHETHER CONVEYED ON ITS OWN OR AS PART OF A LARGER
 CONVEYANCE.
   20. "FAMILY MEMBER."  A  PERSON'S  CHILD,  SPOUSE,  DOMESTIC  PARTNER,
 PARENT,  SIBLING, GRANDCHILD OR GRANDPARENT, OR THE CHILD OR PARENT OF A
 PERSON'S SPOUSE OR DOMESTIC PARTNER.
   21. "PRINCIPAL PLACE OF RESIDENCE." A PERSON'S  PERMANENT  OR  PRIMARY
 HOME  THAT  THE  PERSON OCCUPIES FOR MORE THAN A TEMPORARY OR TRANSITORY
 PURPOSE.
   22. "NEW HOUSING." A RESIDENTIAL UNIT OR UNITS THAT DID NOT  EXIST  AT
 THE  TIME OF THE PRIOR CONVEYANCE OF THE PROPERTY TO THE EXTENT THAT THE
 PROPERTY HAD NO RESIDENTIAL UNITS AT THE TIME OF  THE  PRIOR  CONVEYANCE
 AND AT LEAST ONE RESIDENTIAL UNIT WAS SUBSEQUENTLY ADDED.
   §  2.  The  administrative  code of the city of New York is amended by
 adding a new section 11-2120 to read as follows:
   § 11-2120 IMPOSITION OF FLIP TAX. A. IN ADDITION TO THE TAX IMPOSED BY
 SECTION 11-2102 OF THIS CHAPTER, THERE IS HEREBY IMPOSED ON  EACH  DEED,
 INSTRUMENT  OR TRANSACTION AT THE TIME OF THE TRANSFER WHEREBY ANY PROP-
 ERTIES OF ONE TO FIVE SEPARATE RESIDENTIAL UNITS ARE  TRANSFERRED  BY  A
 GRANTOR  TO  A  GRANTEE, AND SUCH TRANSFER IS MADE WITHIN TWO YEARS FROM
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04848-02-9
              

2019-S3060A - Details

See Assembly Version of this Bill:
A5375
Current Committee:
Senate Cities
Law Section:
New York City Administrative Code
Laws Affected:
Amd §11-2101, add §11-2120, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2017-2018: S6488, A7406
2021-2022: A3259
2023-2024: A2638

2019-S3060A - Summary

Imposes a tax on the transfer of certain real property within two years of the prior transfer of such property and provides for exemptions from such tax.

2019-S3060A - Sponsor Memo

2019-S3060A - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3060--A
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 1, 2019
                                ___________
 
 Introduced  by  Sen. SALAZAR -- read twice and ordered printed, and when
   printed to be committed  to  the  Committee  on  Cities  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN  ACT  to  amend  the  administrative code of the city of New York, in
   relation to a tax on the transfer of certain real property within  two
   years of the prior transfer of such property
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 11-2101 of the administrative code of the  city  of
 New York is amended by adding four new subdivisions 19, 20, 21 and 22 to
 read as follows:
   19.  "PRIOR CONVEYANCE OF THE PROPERTY." THE MOST RECENT CONVEYANCE OF
 THE REAL PROPERTY, WHETHER CONVEYED ON ITS OWN OR AS PART  OF  A  LARGER
 CONVEYANCE.
   20.  "FAMILY  MEMBER."  A  PERSON'S  CHILD,  SPOUSE, DOMESTIC PARTNER,
 PARENT, SIBLING, GRANDCHILD OR GRANDPARENT, OR THE CHILD OR PARENT OF  A
 PERSON'S SPOUSE OR DOMESTIC PARTNER.
   21.  "PRINCIPAL  PLACE  OF RESIDENCE." A PERSON'S PERMANENT OR PRIMARY
 HOME THAT THE PERSON OCCUPIES FOR MORE THAN A  TEMPORARY  OR  TRANSITORY
 PURPOSE.
   22.  "NEW  HOUSING." A RESIDENTIAL UNIT OR UNITS THAT DID NOT EXIST AT
 THE TIME OF THE PRIOR CONVEYANCE OF THE PROPERTY TO THE EXTENT THAT  THE
 PROPERTY  HAD  NO  RESIDENTIAL UNITS AT THE TIME OF THE PRIOR CONVEYANCE
 AND AT LEAST ONE RESIDENTIAL UNIT WAS SUBSEQUENTLY ADDED.
   § 2. The administrative code of the city of New  York  is  amended  by
 adding a new section 11-2120 to read as follows:
   § 11-2120 IMPOSITION OF FLIP TAX. A. IN ADDITION TO THE TAX IMPOSED BY
 SECTION  11-2102  OF THIS CHAPTER, THERE IS HEREBY IMPOSED ON EACH DEED,
 INSTRUMENT OR TRANSACTION AT THE TIME OF THE TRANSFER WHEREBY ANY  PROP-
 ERTIES  OF  ONE  TO FIVE SEPARATE RESIDENTIAL UNITS ARE TRANSFERRED BY A
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

2019-S3060B - Details

See Assembly Version of this Bill:
A5375
Current Committee:
Senate Cities
Law Section:
New York City Administrative Code
Laws Affected:
Amd §11-2101, add §11-2120, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2017-2018: S6488, A7406
2021-2022: A3259
2023-2024: A2638

2019-S3060B - Summary

Imposes a tax on the transfer of certain real property within two years of the prior transfer of such property and provides for exemptions from such tax.

2019-S3060B - Sponsor Memo

2019-S3060B - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3060--B
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 1, 2019
                                ___________
 
 Introduced  by  Sen. SALAZAR -- read twice and ordered printed, and when
   printed to be committed  to  the  Committee  on  Cities  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to  said  committee  --  committee  discharged,  bill amended, ordered
   reprinted as amended and recommitted to said committee

 AN ACT to amend the administrative code of the  city  of  New  York,  in
   relation  to a tax on the transfer of certain real property within two
   years of the prior transfer of such property
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section 11-2101 of the administrative code of the city of
 New York is amended by adding four new subdivisions 19, 20, 21 and 22 to
 read as follows:
   19. "PRIOR CONVEYANCE OF THE PROPERTY." THE MOST RECENT CONVEYANCE  OF
 THE  REAL  PROPERTY,  WHETHER CONVEYED ON ITS OWN OR AS PART OF A LARGER
 CONVEYANCE.
   20. "FAMILY MEMBER."  A  PERSON'S  CHILD,  SPOUSE,  DOMESTIC  PARTNER,
 PARENT,  SIBLING, GRANDCHILD OR GRANDPARENT, OR THE CHILD OR PARENT OF A
 PERSON'S SPOUSE OR DOMESTIC PARTNER.
   21. "PRINCIPAL PLACE OF RESIDENCE." A PERSON'S  PERMANENT  OR  PRIMARY
 HOME  THAT  THE  PERSON OCCUPIES FOR MORE THAN A TEMPORARY OR TRANSITORY
 PURPOSE.
   22. "NEW HOUSING." A RESIDENTIAL UNIT OR UNITS THAT DID NOT  EXIST  AT
 THE  TIME OF THE PRIOR CONVEYANCE OF THE PROPERTY TO THE EXTENT THAT THE
 PROPERTY HAD NO RESIDENTIAL UNITS AT THE TIME OF  THE  PRIOR  CONVEYANCE
 AND AT LEAST ONE RESIDENTIAL UNIT WAS SUBSEQUENTLY ADDED.
   §  2.  The  administrative  code of the city of New York is amended by
 adding a new section 11-2120 to read as follows:
   § 11-2120 IMPOSITION OF FLIP TAX. A. IN ADDITION TO THE TAX IMPOSED BY
 SECTION 11-2102 OF THIS CHAPTER, THERE IS HEREBY IMPOSED ON  EACH  DEED,
 INSTRUMENT  OR TRANSACTION AT THE TIME OF THE TRANSFER WHEREBY ANY PROP-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

2019-S3060C - Details

See Assembly Version of this Bill:
A5375
Current Committee:
Senate Cities
Law Section:
New York City Administrative Code
Laws Affected:
Amd §11-2101, add §11-2120, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2017-2018: S6488, A7406
2021-2022: A3259
2023-2024: A2638

2019-S3060C - Summary

Imposes a tax on the transfer of certain real property within two years of the prior transfer of such property and provides for exemptions from such tax.

2019-S3060C - Sponsor Memo

2019-S3060C - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3060--C
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 1, 2019
                                ___________
 
 Introduced  by  Sen. SALAZAR -- read twice and ordered printed, and when
   printed to be committed  to  the  Committee  on  Cities  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to  said  committee  --  committee  discharged,  bill amended, ordered
   reprinted as amended and recommitted to said  committee  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN  ACT  to  amend  the  administrative code of the city of New York, in
   relation to a tax on the transfer of certain real property within  two
   years of the prior transfer of such property
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1.  Short title. This act shall be known and may be  cited  as
 the "New York city small home anti-speculation act".
   §  2.  Section  11-2101  of the administrative code of the city of New
 York is amended by adding five new subdivisions 19, 20, 21, 22 and 23 to
 read as follows:
   19. "PRIOR CONVEYANCE OF THE PROPERTY." THE MOST RECENT CONVEYANCE  OF
 THE  REAL  PROPERTY,  WHETHER CONVEYED ON ITS OWN OR AS PART OF A LARGER
 CONVEYANCE.
   20. "FAMILY MEMBER."  A  PERSON'S  CHILD,  SPOUSE,  DOMESTIC  PARTNER,
 PARENT,  SIBLING, GRANDCHILD OR GRANDPARENT, OR THE CHILD OR PARENT OF A
 PERSON'S SPOUSE OR DOMESTIC PARTNER.
   21. "NEW HOUSING." A RESIDENTIAL UNIT OR UNITS THAT DID NOT  EXIST  AT
 THE  TIME OF THE PRIOR CONVEYANCE OF THE PROPERTY TO THE EXTENT THAT THE
 PROPERTY HAD NO RESIDENTIAL UNITS AT THE TIME OF  THE  PRIOR  CONVEYANCE
 AND AT LEAST ONE RESIDENTIAL UNIT WAS SUBSEQUENTLY ADDED.
   22.  "QUALIFIED  PERSONS." QUALIFIED PERSONS, AS USED IN THIS CHAPTER,
 SHALL NOT INCLUDE BUSINESS TRUSTS, ESTATES,  TRUSTS,  LIMITED  LIABILITY
 COMPANIES,  LIMITED LIABILITY PARTNERSHIPS, LIMITED LIABILITY INVESTMENT
 COMPANIES, ASSOCIATIONS, JOINT VENTURES, BUSINESS OR NONPROFIT ENTITIES,
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

co-Sponsors

2019-S3060D - Details

See Assembly Version of this Bill:
A5375
Current Committee:
Senate Cities
Law Section:
New York City Administrative Code
Laws Affected:
Amd §11-2101, add §11-2120, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2017-2018: S6488, A7406
2021-2022: A3259
2023-2024: A2638

2019-S3060D - Summary

Imposes a tax on the transfer of certain real property within two years of the prior transfer of such property and provides for exemptions from such tax.

2019-S3060D - Sponsor Memo

2019-S3060D - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3060--D
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 1, 2019
                                ___________
 
 Introduced  by  Sen. SALAZAR -- read twice and ordered printed, and when
   printed to be committed  to  the  Committee  on  Cities  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to  said  committee  --  committee  discharged,  bill amended, ordered
   reprinted as amended and recommitted to said  committee  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to  said  committee  --  committee  discharged,  bill amended, ordered
   reprinted as amended and recommitted to said committee
 
 AN ACT to amend the administrative code of the  city  of  New  York,  in
   relation  to a tax on the transfer of certain real property within two
   years of the prior transfer of such property
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.   Short title. This act shall be known and may be cited as
 the "New York city small home anti-speculation act".
   § 2. Section 11-2101 of the administrative code of  the  city  of  New
 York is amended by adding five new subdivisions 19, 20, 21, 22 and 23 to
 read as follows:
   19.  "PRIOR CONVEYANCE OF THE PROPERTY." THE MOST RECENT CONVEYANCE OF
 THE REAL PROPERTY, WHETHER CONVEYED ON ITS OWN OR AS PART  OF  A  LARGER
 CONVEYANCE.
   20.  "FAMILY  MEMBER."  A  PERSON'S  CHILD,  SPOUSE, DOMESTIC PARTNER,
 PARENT, SIBLING, GRANDCHILD OR GRANDPARENT, OR THE CHILD OR PARENT OF  A
 PERSON'S SPOUSE OR DOMESTIC PARTNER.
   21.  "NEW  HOUSING." A RESIDENTIAL UNIT OR UNITS THAT DID NOT EXIST AT
 THE TIME OF THE PRIOR CONVEYANCE OF THE PROPERTY TO THE EXTENT THAT  THE
 PROPERTY  HAD  NO  RESIDENTIAL UNITS AT THE TIME OF THE PRIOR CONVEYANCE
 AND AT LEAST ONE RESIDENTIAL UNIT WAS SUBSEQUENTLY ADDED.
   22. "QUALIFIED PERSONS." QUALIFIED PERSONS, AS USED IN  THIS  CHAPTER,
 SHALL  NOT  INCLUDE  BUSINESS TRUSTS, ESTATES, TRUSTS, LIMITED LIABILITY
 COMPANIES, LIMITED LIABILITY PARTNERSHIPS, LIMITED LIABILITY  INVESTMENT
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

co-Sponsors

2019-S3060E (ACTIVE) - Details

See Assembly Version of this Bill:
A5375
Current Committee:
Senate Cities
Law Section:
New York City Administrative Code
Laws Affected:
Amd §11-2101, add §11-2120, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2017-2018: S6488, A7406
2021-2022: A3259
2023-2024: A2638

2019-S3060E (ACTIVE) - Summary

Imposes a tax on the transfer of certain real property within two years of the prior transfer of such property and provides for exemptions from such tax.

2019-S3060E (ACTIVE) - Sponsor Memo

2019-S3060E (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3060--E
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             February 1, 2019
                                ___________
 
 Introduced  by Sens. SALAZAR, BIAGGI, JACKSON, SANDERS -- read twice and
   ordered printed, and when printed to be committed to the Committee  on
   Cities  --  committee  discharged,  bill amended, ordered reprinted as
   amended and recommitted to said  committee  --  committee  discharged,
   bill  amended,  ordered  reprinted  as amended and recommitted to said
   committee -- committee discharged, bill amended, ordered reprinted  as
   amended  and  recommitted  to  said committee -- committee discharged,
   bill amended, ordered reprinted as amended  and  recommitted  to  said
   committee  -- committee discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee
 
 AN ACT to amend the administrative code of the  city  of  New  York,  in
   relation  to a tax on the transfer of certain real property within two
   years of the prior transfer of such property
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Short  title. This act shall be known and may be cited as
 the "New York state small home anti-speculation act".
   § 2. Section 11-2101 of the administrative code of  the  city  of  New
 York is amended by adding six new subdivisions 19, 20, 21, 22, 23 and 24
 to read as follows:
   19.  "PRIOR CONVEYANCE OF THE PROPERTY." THE MOST RECENT CONVEYANCE OF
 THE REAL PROPERTY, WHETHER CONVEYED ON ITS OWN OR AS PART  OF  A  LARGER
 CONVEYANCE.
   20.  "FAMILY  MEMBER."  A  PERSON'S  CHILD,  SPOUSE, DOMESTIC PARTNER,
 PARENT, SIBLING, GRANDCHILD OR GRANDPARENT, OR THE CHILD OR PARENT OF  A
 PERSON'S SPOUSE OR DOMESTIC PARTNER.
   21.  "PRINCIPAL  PLACE  OF RESIDENCE." A PERSON'S PERMANENT OR PRIMARY
 HOME THAT THE PERSON OCCUPIES FOR MORE THAN A  TEMPORARY  OR  TRANSITORY
 PURPOSE.
   22.  "NEW  HOUSING." A RESIDENTIAL UNIT OR UNITS THAT DID NOT EXIST AT
 THE TIME OF THE PRIOR CONVEYANCE OF THE PROPERTY TO THE EXTENT THAT  THE

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

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