assembly Bill A5736

2021-2022 Legislative Session

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

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Sponsored By

Current Bill Status - In Assembly 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 24, 2021 referred to real property taxation

Co-Sponsors

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Multi-Sponsors

A5736 (ACTIVE) - Details

See Senate Version of this Bill:
S4199
Law Section:
Real Property Tax Law
Laws Affected:
Add §307-b, RPT L
Versions Introduced in Other Legislative Sessions:
2013-2014: A10192, S7941
2015-2016: A1641, S1053
2017-2018: A3837, S69
2019-2020: A4540, S44

A5736 (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.

A5736 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5736
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 24, 2021
                                ___________
 
 Introduced by M. of A. GLICK, O'DONNELL, GOTTFRIED, L. ROSENTHAL, REYES,
   J. RIVERA,  DINOWITZ,  JEAN-PIERRE, EPSTEIN, WEPRIN, NIOU, RICHARDSON,
   CRUZ, TAYLOR, STECK, SEAWRIGHT, FAHY, BENEDETTO, JACOBSON,  FERNANDEZ,
   PICHARDO,  DE LA ROSA,  SIMON,  BUTTENSCHON,  SAYEGH,  HUNTER, JOYNER,
   CARROLL, WOERNER, GUNTHER, RAMOS, GRIFFIN, JONES,  STERN,  LUPARDO  --
   Multi-Sponsored  by -- M. of A. NOLAN -- read once and referred to the
   Committee on Real Property Taxation
 
 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.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05566-01-1