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Senate Bill S4159

2021-2022 Legislative Session

Sets a cap on penalties for certain unpaid real property tax due and payable or remaining unpaid

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Sponsored By

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

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2021-S4159 (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Amd §924-a, RPT L
Versions Introduced in Other Legislative Sessions:
2019-2020: S8457
2023-2024: S1626

2021-S4159 (ACTIVE) - Summary

Sets a state-wide three percent cap on penalties for unpaid real property tax due and payable or remaining unpaid during the period from March 7, 2020 to June 30, 2021.

2021-S4159 (ACTIVE) - Sponsor Memo

2021-S4159 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4159
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 2, 2021
                                ___________
 
 Introduced  by  Sen.  COMRIE -- 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  setting  a
   state-wide three percent cap on penalties for unpaid real property tax
   due  and  payable  or remaining unpaid during the period from March 7,
   2020 to June 30, 2021
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Legislative  findings.  The  Legislature  finds  that the
 COVID-19 pandemic has caused an  immediate  financial  crisis  for  many
 homeowners and businesses who may be unable to pay property taxes on the
 prescribed  due  dates and that the imposition of interest at rates well
 above current market rates would hamper recovery of the state's economy.
   § 2. Section 924-a of the real property tax law is amended by adding a
 new subdivision 4 to read as follows:
   4. NOTWITHSTANDING ANY GENERAL, SPECIAL OR LOCAL LAW TO THE  CONTRARY,
 THE  RATE  OF  INTEREST  ON  UNPAID TAXES OR INSTALLMENTS OF TAX DUE AND
 PAYABLE OR REMAINING UNPAID DURING THE PERIOD FROM  MARCH  SEVENTH,  TWO
 THOUSAND  TWENTY  TO  JUNE THIRTIETH, TWO THOUSAND TWENTY-ONE, SHALL NOT
 EXCEED THREE PERCENT PER ANNUM DURING SUCH PERIOD. ALL OTHER  PROVISIONS
 OF  GENERAL, SPECIAL OR LOCAL LAW RELATING TO THE IMPOSITION, COLLECTION
 AND DETERMINATION OF THE RATE OF INTEREST SHALL NOT BE AFFECTED  BY  THE
 PROVISIONS OF THIS SUBDIVISION.
   § 3. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08723-01-1

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