Assembly Actions -
Senate Actions - UPPERCASE
|Jan 05, 2022||
referred to cities 1
|Feb 18, 2021||
referred to cities 1
Senate Bill S4921
2021-2022 Legislative Session
Archive: Last Bill Status - In Senate Committee Cities 1 Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2021-S4921 (ACTIVE) - Details
2021-S4921 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4921 SPONSOR: LANZA TITLE OF BILL: An act to amend the general municipal law and the municipal home rule law, in relation to establishing limitations upon real property tax levies in cities with a population of one million or more PURPOSE OR GENERAL IDEA OF BILL: This bill would control the ever-rising property tax by limiting the amount by which the City of New York may increase property taxes each year. SUMMARY OF SPECIFIC PROVISIONS: Section 1 of the bill would add a new § 3-e to the General Municipal Law to establish a real property tax levy cap for New York City. Under the property tax levy cap:
2021-S4921 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4921 2021-2022 Regular Sessions I N S E N A T E February 18, 2021 ___________ Introduced by Sen. LANZA -- read twice and ordered printed, and when printed to be committed to the Committee on Cities 1 AN ACT to amend the general municipal law and the municipal home rule law, in relation to establishing limitations upon real property tax levies in cities 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 general municipal law is amended by adding a new section 3-d to read as follows: § 3-D. LIMITATION UPON REAL PROPERTY TAX LEVIES BY CITIES HAVING A POPULATION OF ONE MILLION OR MORE. 1. UNLESS OTHERWISE PROVIDED BY LAW, THE AMOUNT OF REAL PROPERTY TAXES THAT MAY BE LEVIED BY OR ON BEHALF OF ANY CITY HAVING A POPULATION OF ONE MILLION OR MORE SHALL NOT EXCEED THE TAX LEVY LIMITATION ESTABLISHED PURSUANT TO THIS SECTION. 2. WHEN USED IN THIS SECTION: (A) "ALLOWABLE LEVY GROWTH FACTOR" SHALL BE THE LESSER OF: (I) ONE AND TWO ONE-HUNDREDTHS; OR (II) THE SUM OF ONE PLUS THE INFLATION FACTOR; PROVIDED, HOWEVER, THAT IN NO CASE SHALL THE LEVY GROWTH FACTOR BE LESS THAN ONE. (B) "APPROVED CAPITAL EXPENDITURES" MEANS THE EXPENDITURES ASSOCIATED WITH CAPITAL PROJECTS THAT HAVE BEEN APPROVED BY THE QUALIFIED VOTERS OF THE LOCAL GOVERNMENT. (C) "AVAILABLE CARRYOVER" MEANS THE SUM OF THE AMOUNT BY WHICH THE TAX LEVY FOR THE PRIOR FISCAL YEAR WAS BELOW THE TAX LEVY LIMIT FOR SUCH FISCAL YEAR, IF ANY, BUT NO MORE THAN ONE AND ONE-HALF PERCENT OF THE TAX LEVY LIMIT FOR SUCH FISCAL YEAR. (D) "CAPITAL TAX LEVY" MEANS THE TAX LEVY NECESSARY TO SUPPORT CAPITAL EXPENDITURES, IF ANY. (E) "COMING FISCAL YEAR" MEANS THE FISCAL YEAR OF THE LOCAL GOVERNMENT FOR WHICH A TAX LEVY LIMITATION SHALL BE DETERMINED PURSUANT TO THIS SECTION. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.