Assembly Actions -
Senate Actions - UPPERCASE
|Jan 05, 2022||
referred to real property taxation
|Jan 06, 2021||
referred to real property taxation
Assembly Bill A278
2021-2022 Legislative Session
Archive: Last Bill Status - In Assembly Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2021-A278 (ACTIVE) - Details
- Current Committee:
- Assembly Real Property Taxation
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd §420-a, RPT L
- Versions Introduced in 2021-2022 Legislative Session:
2021-A278 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 278 2021-2022 Regular Sessions I N A S S E M B L Y (PREFILED) January 6, 2021 ___________ Introduced by M. of A. GUNTHER, COOK -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to the duration of the exemption for property of mandatory class nonprofit organiza- tions by reason of the absence of suitable buildings or improvements thereon if construction of such buildings or improvements is in progress or is in good faith contemplated THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 3 of section 420-a of the real property tax law, such section as renumbered by chapter 919 of the laws of 1981, is amended and a new subdivision 17 is added to read as follows: 3. Such real property from which no revenue is derived shall be exempt though not in actual use therefor by reason of the absence of suitable buildings or OTHER PHYSICAL improvements thereon if: (a) the construction of such buildings or OTHER PHYSICAL improvements is in progress or is in good faith contemplated by such corporation or association WITHIN SEVEN YEARS AFTER SUCH PROPERTY HAS BEEN ACQUIRED BY SUCH CORPORATION OR ASSOCIATION; FOR THE PURPOSES OF CALCULATING SUCH SEVEN YEARS' PERIOD, WITH RESPECT TO PROPERTY ACQUIRED BEFORE THE EFFEC- TIVE DATE OF THE CHAPTER OF THE LAWS OF TWO THOUSAND TWENTY-ONE WHICH AMENDED THIS SUBDIVISION, SUCH SEVEN YEARS' PERIOD SHALL COMMENCE ON SUCH EFFECTIVE DATE, AND WITH RESPECT TO PROPERTY ACQUIRED ON OR AFTER SUCH EFFECTIVE DATE, SUCH SEVEN YEARS' PERIOD SHALL COMMENCE ON THE DATE OF ACQUISITION; or (b) such real property is held by such corporation or association upon condition that the title thereto shall revert in case any building not intended and suitable for one or more such purposes shall be erected upon such premises or some part thereof. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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