senate Bill S4199

2021-2022 Legislative Session

Imposes an additional tax surcharge on certain non-primary residence class one and class two properties in N.Y. city

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Local Government Committee


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 02, 2021 referred to local government

Co-Sponsors

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S4199 (ACTIVE) - Details

See Assembly Version of this Bill:
A5736
Current Committee:
Senate Local Government
Law Section:
Real Property Tax Law
Laws Affected:
Add §307-b, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: S7941, A10192
2015-2016: S1053, A1641
2017-2018: S69, A3837
2019-2020: S44, A4540

S4199 (ACTIVE) - Summary

Imposes an additional tax surcharge on certain non-primary residence class one and class two properties in a city with a population of one million or more.

S4199 (ACTIVE) - Sponsor Memo

S4199 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4199
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             February 2, 2021
                                ___________
 
 Introduced   by   Sens.  HOYLMAN,  BAILEY,  BIAGGI,  GIANARIS,  JACKSON,
   KAVANAGH, KRUEGER, LIU, MAY, MYRIE, RAMOS, RIVERA,  SALAZAR,  SANDERS,
   SEPULVEDA,  SERRANO,  STAVISKY  -- 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  imposing  an
   additional  tax  on  certain non-primary residence class one and class
   two properties in a city 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  real  property  tax  law  is amended by adding a new
 section 307-b to read as follows:
   § 307-B. ADDITIONAL TAX ON CERTAIN NON-PRIMARY RESIDENCE PROPERTIES IN
 A CITY WITH A POPULATION OF ONE MILLION OR MORE. 1. GENERALLY.  NOTWITH-
 STANDING  ANY  PROVISION  OF  ANY  GENERAL, SPECIFIC OR LOCAL LAW TO THE
 CONTRARY, ANY CITY WITH A POPULATION OF ONE MILLION OR  MORE  IS  HEREBY
 AUTHORIZED  AND  EMPOWERED  TO  ADOPT AND AMEND LOCAL LAWS IN ACCORDANCE
 WITH THIS SECTION IMPOSING AN  ADDITIONAL  TAX  ON  CERTAIN  RESIDENTIAL
 PROPERTIES AND DWELLING UNITS.
   2.  DEFINITIONS.  AS USED IN THIS SECTION:  (A) "ASSESSED VALUE" MEANS
 THE DETERMINATION MADE BY THE ASSESSORS OF A CITY HAVING A POPULATION OF
 ONE MILLION OR MORE OF THE VALUATION OF REAL PROPERTY.
   (B) "ASSESSED VALUE ATTRIBUTABLE TO A  TENANT-STOCKHOLDER"  MEANS  THE
 PROPORTION OF THE ASSESSED VALUE OF REAL PROPERTY OWNED BY A COOPERATIVE
 APARTMENT  CORPORATION,  REPRESENTED  BY A TENANT-STOCKHOLDER'S SHARE OR
 SHARES OF STOCK IN SUCH  CORPORATION  AS  DETERMINED  BY  ITS  OR  THEIR
 PROPORTIONAL  RELATIONSHIP  TO THE TOTAL OUTSTANDING STOCK OF THE CORPO-
 RATION, INCLUDING THAT OWNED BY THE CORPORATION.
   (C) "COMMISSIONER OF FINANCE" MEANS THE COMMISSIONER OF FINANCE  OF  A
 CITY HAVING A POPULATION OF ONE MILLION OR MORE, OR HIS OR HER DESIGNEE.
   (D)  "DEPARTMENT OF FINANCE" MEANS THE DEPARTMENT OF FINANCE OF A CITY
 HAVING A POPULATION OF ONE MILLION OR MORE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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