senate Bill S8457

2019-2020 Legislative Session

Sets a cap on penalties for certain unpaid real property tax due and payable or remaining unpaid

download bill text pdf

Sponsored By

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


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 03, 2020 referred to local government

S8457 (ACTIVE) - Details

See Assembly Version of this Bill:
A10548
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §924-a, RPT L
Versions Introduced in 2021-2022 Legislative Session:
S4159

S8457 (ACTIVE) - Summary

Sets a state-wide three percent cap on penalties for unpaid real property tax due and payable or remaining unpaid during the period from March 7, 2020 to June 30, 2021.

S8457 (ACTIVE) - Sponsor Memo

S8457 (ACTIVE) - Bill Text download pdf


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

                                  8457

                            I N  S E N A T E

                              June 3, 2020
                               ___________

Introduced  by  Sen.  COMRIE -- 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  setting  a
  state-wide three percent cap on penalties for unpaid real property tax
  due  and  payable  or remaining unpaid during the period from March 7,
  2020 to June 30, 2021

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

  Section  1.  Legislative  findings.  The  Legislature  finds  that the
COVID-19 pandemic has caused an  immediate  financial  crisis  for  many
homeowners and businesses who may be unable to pay property taxes on the
prescribed  due  dates and that the imposition of interest at rates well
above current market rates would hamper recovery of the state's economy.
  § 2. Section 924-a of the real property tax law is amended by adding a
new subdivision 4 to read as follows:
  4. NOTWITHSTANDING ANY GENERAL, SPECIAL OR LOCAL LAW TO THE  CONTRARY,
THE  RATE  OF  INTEREST  ON  UNPAID TAXES OR INSTALLMENTS OF TAX DUE AND
PAYABLE OR REMAINING UNPAID DURING THE PERIOD FROM  MARCH  SEVENTH,  TWO
THOUSAND  TWENTY  TO  JUNE THIRTIETH, TWO THOUSAND TWENTY-ONE, SHALL NOT
EXCEED THREE PERCENT PER ANNUM DURING SUCH PERIOD. ALL OTHER  PROVISIONS
OF  GENERAL, SPECIAL OR LOCAL LAW RELATING TO THE IMPOSITION, COLLECTION
AND DETERMINATION OF THE RATE OF INTEREST SHALL NOT BE AFFECTED  BY  THE
PROVISIONS OF THIS SUBDIVISION.
  § 3. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD16511-01-0

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