S T A T E O F N E W Y O R K
________________________________________________________________________
5405--A
2021-2022 Regular Sessions
I N A S S E M B L Y
February 16, 2021
___________
Introduced by M. of A. ZEBROWSKI -- read once and referred to the
Committee on Ways and Means -- committee discharged, bill amended,
ordered reprinted as amended and recommitted to said committee
AN ACT to amend the tax law, in relation to clarifying that certain
documents attached to real estate tax returns are not considered tax
returns for certain secrecy purposes
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 297 of the laws of 2019, is amended to read as follows:
(a) (1) 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.
(2) When the grantor or grantee of a deed for A BUILDING USED AS resi-
dential real property containing [one- to four-] UP 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 priva-
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08461-06-1
A. 5405--A 2
cy 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 OTHER THAN A
PUBLICLY TRADED ENTITY, A REIT, A UPREIT, OR A MUTUAL FUND, the names
and addresses of the shareholders, directors, officers, members, manag-
ers and partners of the limited liability company or other business
entity shall also be disclosed until full disclosure of ultimate owner-
ship 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) 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. Subdivision (h) of section 1418 of the tax law, as added by
section 7 of part X of chapter 56 of the laws of 2010 and as further
amended by subdivision (c) of section 1 of part W of chapter 56 of the
laws of 2010, is amended to read as follows:
(h) Notwithstanding the provisions of subdivision (a) of this section,
the commissioner may furnish information relating to real property
transfers obtained or derived from returns filed pursuant to this arti-
cle in relation to the real estate transfer tax, to the extent that such
information is also required to be reported to the commissioner by
section three hundred thirty-three of the real property law and section
five hundred seventy-four of the real property tax law and the rules
adopted thereunder, provided such information was collected through a
combined process established pursuant to an agreement entered into with
the commissioner pursuant to paragraph viii of subdivision one-e of
section three hundred thirty-three of the real property law. The commis-
sioner may redisclose such information to the extent authorized by
section five hundred seventy-four of the real property tax law. THE
COMMISSIONER MAY ALSO DISCLOSE ANY INFORMATION REPORTED PURSUANT TO
PARAGRAPH TWO OF SUBDIVISION (A) OF SECTION FOURTEEN HUNDRED NINE OF
THIS ARTICLE.
§ 3. This act shall take effect immediately.