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Assembly Bill A7448

2021-2022 Legislative Session

Authorizes the forbearance of certain delinquent taxes

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Archive: Last Bill Status - In Assembly Committee

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2021-A7448 (ACTIVE) - Details

See Senate Version of this Bill:
S5963
Current Committee:
Assembly Real Property Taxation
Law Section:
Real Property Tax Law
Laws Affected:
Amd §1184, RPT L
Versions Introduced in 2019-2020 Legislative Session:
S8193

2021-A7448 (ACTIVE) - Summary

Decreases the amount of the late charge of five percent to one-half percent for the overdue tax payment; authorizes a municipality to provide any resident the opportunity for the forbearance of certain delinquent taxes upon a hardship declaration.

2021-A7448 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7448
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 10, 2021
                                ___________
 
 Introduced  by M. of A. BURDICK -- read once and referred to the Commit-
   tee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in relation to  the  forbear-
   ance of certain delinquent taxes; and providing for the repeal of such
   provisions upon expiration thereof

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 7 of section 1184 of the real property tax law,
 as amended by chapter 579 of the laws of 1995, is  amended  to  read  as
 follows:
   7.  Interest  and  penalties. Interest on the total amount of eligible
 delinquent taxes, less the amount of the down payment made by the eligi-
 ble owner, if any is required, shall be that amount as determined pursu-
 ant to section nine hundred twenty-four-a of this chapter, or such other
 law as may be applicable. The rate of interest in effect on the date the
 agreement is signed shall remain  constant  during  the  period  of  the
 agreement.  If  an  installment  is not paid on or before the date it is
 due, interest shall be added at the applicable rate for  each  month  or
 portion  thereof  until paid. In addition, if an installment is not paid
 by the end of the fifteenth calendar day after the payment due  date,  a
 late  charge  of [five] ONE-HALF percent of the overdue payment shall be
 added. PROVIDED, HOWEVER, THAT ANY MUNICIPALITY MAY PROVIDE TO ANY RESI-
 DENT AN OPPORTUNITY FOR A  FORBEARANCE  OF  PAYMENTS  PURSUANT  TO  THIS
 SUBDIVISION  FOR ANY PERSON OR ENTITY FACING A FINANCIAL HARDSHIP DUE TO
 THE COVID-19 PANDEMIC. SUCH FORBEARANCE OF PAYMENTS SHALL COMMENCE  UPON
 RESIDENT'S  FILING  OF  ANY  HARDSHIP  DECLARATION PURSUANT TO PART B OF
 CHAPTER THREE HUNDRED EIGHTY-ONE OF THE LAWS OF TWO THOUSAND TWENTY.
   § 2. This act shall take effect immediately and shall  expire  and  be
 deemed repealed December 31, 2021.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08369-02-1

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