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Senate Bill S2807

2021-2022 Legislative Session

Relates to a partial tax abatement for residential real property held in the cooperative or condominium form of ownership in the city of New York

download bill text pdf

Sponsored By

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

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2021-S2807 (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §467-a, RPT L
Versions Introduced in 2019-2020 Legislative Session:
S6564

2021-S2807 (ACTIVE) - Summary

Relates to the application for a partial tax abatement for residential real property held in the cooperative or condominium form of ownership in the city of New York.

2021-S2807 (ACTIVE) - Sponsor Memo

2021-S2807 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2807
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 25, 2021
                                ___________
 
 Introduced  by Sen. KAVANAGH -- 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 a partial  tax
   abatement  for  residential  real  property held in the cooperative or
   condominium form of ownership in the city of New York

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (a) of subdivision 1 of section 467-a of the real
 property  tax  law,  as  amended  by  chapter  4 of the laws of 2013, is
 amended to read as follows:
   (a) "Applicant" means the board of managers of a  condominium  or  the
 board  of  directors  of  a  cooperative apartment corporation, provided
 that, in addition, the commissioner  of  finance  [may]  SHALL  by  rule
 designate  the  owner  of a dwelling unit OR SHAREHOLDER OF A UNIT as an
 applicant FOR THE PURPOSES OF  SUBMITTING  SUPPLEMENTAL  INFORMATION  TO
 VERIFY  THE  ELIGIBILITY  OF THE OWNER OF THE UNIT OR SHAREHOLDER OF THE
 UNIT FOR THE ABATEMENT.
   § 2. Paragraph (b) of subdivision 3 of section 467-a of the real prop-
 erty tax law, as amended by chapter 4 of the laws of 2013, is amended to
 read as follows:
   (b) An application for an abatement pursuant to this section shall  be
 submitted  to  the commissioner of finance by the board of managers of a
 condominium or the board of directors of a cooperative apartment  corpo-
 ration,  provided  that  the commissioner of finance [may] SHALL by rule
 require the owner OR SHAREHOLDER of a dwelling unit to submit an  appli-
 cation  to supplement information contained in the application submitted
 by the board of managers of a condominium or the board of directors of a
 cooperative apartment corporation TO CERTIFY AS TO THAT OWNER OR  SHARE-
 HOLDER'S  ELIGIBILITY  FOR  THE  ABATEMENT  INCLUDING BUT NOT LIMITED TO
 PRIMARY RESIDENCE STATUS and may by rule apply and adjust, as  appropri-
 ate,  any provisions of this section that relate to applications submit-
 ted by such boards to applications submitted by such owners.
   § 3. This act shall take effect immediately.

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