S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7776--A
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 21, 2021
                                ___________
 
 Introduced  by  M.  of  A.  THIELE,  McMAHON,  SOLAGES  -- read once and
   referred to the Committee  on  Real  Property  Taxation  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN ACT to amend the real property tax law, in relation to delinquent tax
   interest rates

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 1 of section 924-a of  the  real  property  tax
 law, as amended by chapter 26 of the laws of 2003, is amended to read as
 follows:
   1.  The amount of interest to be added on all taxes received after the
 interest free period and all delinquent taxes shall be  one-twelfth  the
 rate  of  interest as determined pursuant to subdivision two or two-a of
 this section rounded to the nearest one-hundredth of a percentage point,
 except as otherwise provided by a general or special law, or a local law
 adopted by a city pursuant to the municipal home rule law or any special
 law. Such interest shall be added for each  month  or  fraction  thereof
 until  such  taxes  are paid; PROVIDED HOWEVER, THAT NOTWITHSTANDING ANY
 PROVISION OF GENERAL, SPECIAL, OR LOCAL LAW OR RESOLUTION TO THE CONTRA-
 RY, BEGINNING IN ALL LOCAL FISCAL YEARS COMMENCING IN CALENDAR YEAR  TWO
 THOUSAND  TWENTY-TWO  AND THEREAFTER, IN NO CASE SHALL THE INTEREST RATE
 EXCEED SEVEN AND  ONE-HALF  PER  CENTUM  PER  ANNUM  OF  DELINQUENT  TAX
 PAYMENTS  DUE  ON  OWNER  OCCUPIED  RESIDENTIAL REAL PROPERTY CONTAINING
 THREE OR FEWER DWELLING UNITS; AND PROVIDED FURTHER THAT THIS LIMITATION
 SHALL APPLY TO UNITS HELD IN CONDOMINIUM FORM; AND PROVIDED FURTHER THAT
 SUCH LIMITATION SHALL APPLY TO ALL BUILDINGS HELD  IN  COOPERATIVE  FORM
 REGARDLESS  OF  OWNER  OCCUPANCY  STATUS; AND PROVIDED FURTHER THAT THIS
 LIMITATION SHALL NOT APPLY TO REAL PROPERTY THAT  IS  VACANT  AND  ABAN-
 DONED,  AS  DEFINED  IN SUBDIVISION TWO OF SECTION THIRTEEN HUNDRED NINE
 OF THE REAL PROPERTY ACTIONS AND PROCEEDINGS LAW, WHICH  WAS  LISTED  ON
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD10949-05-1

 A. 7776--A                          2
 
 THE  STATEWIDE  VACANT  AND  ABANDONED  PROPERTY ELECTRONIC REGISTRY, AS
 DEFINED IN SECTION THIRTEEN HUNDRED TEN OF THE REAL PROPERTY ACTIONS AND
 PROCEEDINGS LAW, AND REMAINS ON SUCH REGISTRY.   THIS SUBDIVISION  SHALL
 SUPERSEDE  ANY  LOCAL TAX ACT, CODE, LAW, RULE, REGULATION, ORDINANCE OR
 RESOLUTION SETTING AN INTEREST RATE ABOVE SEVEN AND ONE-HALF PER  CENTUM
 PER  ANNUM  OF DELINQUENT TAX PAYMENTS DUE ON OWNER OCCUPIED RESIDENTIAL
 REAL PROPERTY CONTAINING THREE OR FEWER DWELLING UNITS.
   § 2.  This act shall take effect immediately.