assembly Bill A5716

2021-2022 Legislative Session

Establishes limitations upon real property tax levies in N.Y. city

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 05, 2022 referred to ways and means
Feb 24, 2021 referred to ways and means

Co-Sponsors

A5716 (ACTIVE) - Details

See Senate Version of this Bill:
S4921
Law Section:
General Municipal Law
Laws Affected:
Add §3-d, Gen Muni L; amd §23, Munic Home R L
Versions Introduced in Other Legislative Sessions:
2011-2012: A4741, S2866
2013-2014: A6431, S4547
2015-2016: A6498, S3709
2017-2018: A1090, S1214
2019-2020: A991, S1758
2023-2024: S4095

A5716 (ACTIVE) - Summary

Limits, in cities having a population of one million or more, the annual increase in real property taxes.

A5716 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5716
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 24, 2021
                                ___________
 
 Introduced by M. of A. CUSICK, BARNWELL, D. ROSENTHAL, PALMESANO, REILLY
   -- read once and referred to the Committee on Ways and Means
 
 AN  ACT  to  amend the general municipal law and the municipal home rule
   law, in relation to establishing limitations upon  real  property  tax
   levies in cities with a population of one million or more

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The general municipal  law  is  amended  by  adding  a  new
 section 3-d to read as follows:
   §  3-D.  LIMITATION  UPON  REAL PROPERTY TAX LEVIES BY CITIES HAVING A
 POPULATION OF ONE MILLION OR MORE.  1. UNLESS OTHERWISE PROVIDED BY LAW,
 THE AMOUNT OF REAL PROPERTY TAXES THAT MAY BE LEVIED BY OR ON BEHALF  OF
 ANY CITY HAVING A POPULATION OF ONE MILLION OR MORE SHALL NOT EXCEED THE
 TAX LEVY LIMITATION ESTABLISHED PURSUANT TO THIS SECTION.
   2. WHEN USED IN THIS SECTION:
   (A) "ALLOWABLE LEVY GROWTH FACTOR" SHALL BE THE LESSER OF: (I) ONE AND
 TWO  ONE-HUNDREDTHS;  OR  (II) THE SUM OF ONE PLUS THE INFLATION FACTOR;
 PROVIDED, HOWEVER, THAT IN NO CASE SHALL THE LEVY GROWTH FACTOR BE  LESS
 THAN ONE.
   (B)  "APPROVED CAPITAL EXPENDITURES" MEANS THE EXPENDITURES ASSOCIATED
 WITH CAPITAL PROJECTS THAT HAVE BEEN APPROVED BY THE QUALIFIED VOTERS OF
 THE LOCAL GOVERNMENT.
   (C) "AVAILABLE CARRYOVER" MEANS THE SUM OF THE AMOUNT BY WHICH THE TAX
 LEVY FOR THE PRIOR FISCAL YEAR WAS BELOW THE TAX  LEVY  LIMIT  FOR  SUCH
 FISCAL  YEAR,  IF  ANY, BUT NO MORE THAN ONE AND ONE-HALF PERCENT OF THE
 TAX LEVY LIMIT FOR SUCH FISCAL YEAR.
   (D) "CAPITAL TAX LEVY" MEANS THE TAX LEVY NECESSARY TO SUPPORT CAPITAL
 EXPENDITURES, IF ANY.
   (E) "COMING FISCAL YEAR" MEANS THE FISCAL YEAR OF THE LOCAL GOVERNMENT
 FOR WHICH A TAX LEVY LIMITATION SHALL BE  DETERMINED  PURSUANT  TO  THIS
 SECTION.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.