NY State Senate Bill 2021-S2158

Senate Bill S2158

2021-2022 Legislative Session

Expands the residential-commercial exemption program to include any municipality regardless of the population of the county in which it is located

download bill text pdf

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

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 05, 2022	referred to local government
Jan 20, 2021	referred to local government

2021-S2158 (ACTIVE) - Details

Current Committee:: Senate Local Government
Law Section:: Real Property Tax Law
Laws Affected:: Amd §485-n, RPT L
Versions Introduced in Other Legislative Sessions:: 2019-2020: S127
2023-2024: S573

2021-S2158 (ACTIVE) - Summary

Expands the residential-commercial exemption program to include any municipality regardless of the population of the county in which it is located.

2021-S2158 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S2158

SPONSOR: ORTT
 
TITLE OF BILL:

An act to amend the real property tax law, in relation to the residen-
tial-commercial exemption program

 
PURPOSE OR GENERAL IDEA OF BILL:

Expands the Residential-Commercial Exemption program statewide.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section 1. The real property tax law is amended to remove the
restriction that limits the residential-commercial exemption program's
applicability to Livingston County.

 
JUSTIFICATION:

New York's older communities are faced with thousands of properties in
need of significant remediation and rehabilitation. The cost of such
remediation and rehabilitation frequently exceeds the value of the Prop-
erty creating a situation where private sector financing will not loan
money to undertake the remediation or rehabilitation. As a result, these
properties will not be rehabilitated or redeveloped without addressing
this gap in the private sector financing. This legislation will facili-
tate the redevelopment of New York's communities by allowing counties,
towns, villages and school districts, to grant real property tax abate-
ment in defined redevelopment areas.

Tax abatements are a proven technique for local governments to attract
investors for revitalization. A tax abatement, which this bill would
provide, is different than a strict tax exemption. A tax exemption takes
away existing revenue generated by a property, while tax abatement does
not change existing tax payments. With tax abatements, governments agree
to take less than 100% of new revenue generated through property invest-
ment, repair and renovation.

This legislation will provide a tool for local governments to improve
their communities. The proposed tax abatement program will not impose a
cost upon the state, and therefore should be considered by the Legisla-
ture as a no cost, mandate-free way to allow local governments across
New York to invest in and attract outside investment to their communi-
ties.

 
LEGISLATIVE HISTORY:

2019-20: S.127 Referred to Local Government
2015-16 A3940
2013-14 A7931
2011-12 A10193

 
FISCAL IMPLICATIONS:

Unknown

 
EFFECTIVE DATE:
This act shall take effect immediately.

2021-S2158 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2158
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 20, 2021
                                ___________
 
 Introduced  by  Sen.  ORTT  --  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  the  residen-
   tial-commercial exemption program
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (g) of subdivision 1 of section 485-n of the real
 property tax law, as amended by chapter 394 of  the  laws  of  2012,  is
 amended to read as follows:
   (g) "Municipality" means any town, city, village or other taxing enti-
 ty  [located in a county having a population of not less than sixty-five
 thousand three hundred ninety and not more than sixty-five thousand four
 hundred as determined by the federal decennial census for the  year  two
 thousand  ten  or in a county having a population of not less than nine-
 ty-eight thousand nine hundred and not more than ninety-nine thousand as
 determined by the federal decennial census for  the  year  two  thousand
 ten].
   §  2. This act shall take effect immediately, provided that the amend-
 ments to subdivision 1 of section 485-n of the  real  property  tax  law
 made  by  section  one  of  this act shall not affect the repeal of such
 section and shall be deemed repealed therewith.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07393-01-1

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