senate Bill S5882A

Signed By Governor
2021-2022 Legislative Session

Exempts certain construction projects in the city of New York from a time limit for the purpose of filing a final application for tax payment abatement

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Sponsored By

Current Bill Status - Signed by Governor


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

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Actions

view actions (14)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Aug 02, 2021 signed chap.361
Jul 21, 2021 delivered to governor
Jun 10, 2021 returned to senate
passed assembly
ordered to third reading rules cal.761
substituted for a6073a
referred to ways and means
delivered to assembly
passed senate
ordered to third reading cal.1781
committee discharged and committed to rules
Jun 06, 2021 print number 5882a
Jun 06, 2021 amend (t) and recommit to cities 1
Mar 22, 2021 referred to cities 1

S5882 - Details

See Assembly Version of this Bill:
A6073
Law Section:
Real Property Tax Law
Laws Affected:
Amd §489-cccccc, RPT L; amd §11-270, NYC Ad Cd

S5882 - Summary

Provides that a certain time limit for purposes of filing a final application for a tax abatement shall not apply to certain construction projects.

S5882 - Sponsor Memo

S5882 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5882
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              March 22, 2021
                                ___________
 
 Introduced  by  Sen. PERSAUD -- read twice and ordered printed, and when
   printed to be committed to the Committee on Cities 1
 
 AN ACT to amend the real property tax law, in relation to providing that
   a certain time limit for purposes of qualifying for  a  tax  abatement
   shall  not  apply to certain brand-new from the ground up construction
   sited on property purchased from the city of New York
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (a) of subdivision 5 of section 489-cccccc of the
 real  property  tax law is amended by adding a new subparagraph (iii) to
 read as follows:
   (III) NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY,  THE  TIME
 LIMIT  TO FILE A FINAL APPLICATION FOR BENEFITS AS SPECIFIED IN SUBPARA-
 GRAPH (II) OF THIS PARAGRAPH SHALL NOT APPLY TO  BRAND-NEW  CONSTRUCTION
 FROM  THE  GROUND  UP LOCATED ON PROPERTY PURCHASED FROM THE CITY OF NEW
 YORK WHERE SUCH PROPERTY WHICH IS THE SITE OF THE NEW  CONSTRUCTION  WAS
 PURCHASED  FROM  THE  CITY  OF  NEW YORK FOR THE PURPOSES OF AN ELIGIBLE
 DEVELOPMENT PURSUANT TO THIS ARTICLE AND WHERE THE SALES AGREEMENT  WITH
 THE CITY OF NEW YORK FOR SUCH PROPERTY INCLUDES A RESTRICTION PREVENTING
 THE SALE OR TRANSFER OF SUCH PROPERTY FOR A PERIOD OF FIVE YEARS OR MORE
 AND WHERE THE FIRST VALUATION AND ASSESSMENT FOR THE PURPOSES OF PROPER-
 TY  TAXES OCCURRED WITHIN THAT PERIOD OF RESTRICTION FROM SALE, PROVIDED
 THE PROJECT MEETS THE OTHER REQUIREMENTS OF THIS TITLE.
   § 2. This act  shall  take  effect  immediately  and  shall  apply  to
 projects  for  which  a  final application for benefits was filed on and
 after January 1, 2018.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08932-09-1


S5882A (ACTIVE) - Details

See Assembly Version of this Bill:
A6073
Law Section:
Real Property Tax Law
Laws Affected:
Amd §489-cccccc, RPT L; amd §11-270, NYC Ad Cd

S5882A (ACTIVE) - Summary

Provides that a certain time limit for purposes of filing a final application for a tax abatement shall not apply to certain construction projects.

S5882A (ACTIVE) - Sponsor Memo

S5882A (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5882--A
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              March 22, 2021
                                ___________
 
 Introduced  by  Sen. PERSAUD -- read twice and ordered printed, and when
   printed to be committed to the Committee  on  Cities  1  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN ACT to amend the real property tax law and the administrative code of
   the  city  of  New  York, in relation to providing that a certain time
   limit for purposes of qualifying for a tax abatement shall  not  apply
   to certain brand-new from the ground up construction sited on property
   purchased from the city of New York
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (a) of subdivision 5 of section 489-cccccc of the
 real property tax law is amended by adding a new subparagraph  (iii)  to
 read as follows:
   (III)  NOTWITHSTANDING  ANY PROVISION OF LAW TO THE CONTRARY, THE TIME
 LIMIT TO FILE A FINAL APPLICATION FOR BENEFITS AS SPECIFIED IN  SUBPARA-
 GRAPH  (II)  OF THIS PARAGRAPH SHALL NOT APPLY TO BRAND-NEW CONSTRUCTION
 FROM THE GROUND UP LOCATED ON PROPERTY PURCHASED FROM THE  CITY  OF  NEW
 YORK  WHERE  SUCH PROPERTY WHICH IS THE SITE OF THE NEW CONSTRUCTION WAS
 PURCHASED FROM THE CITY OF NEW YORK FOR  THE  PURPOSES  OF  AN  ELIGIBLE
 DEVELOPMENT  PURSUANT TO THIS ARTICLE AND WHERE THE SALES AGREEMENT WITH
 THE CITY OF NEW YORK FOR SUCH PROPERTY INCLUDES A RESTRICTION PREVENTING
 THE SALE OR TRANSFER OF SUCH PROPERTY FOR A PERIOD OF FIVE YEARS OR MORE
 AND WHERE THE FIRST VALUATION AND ASSESSMENT FOR THE PURPOSES OF PROPER-
 TY TAXES OCCURRED WITHIN THAT PERIOD OF RESTRICTION FROM SALE,  PROVIDED
 THE PROJECT MEETS THE OTHER REQUIREMENTS OF THIS TITLE.
   §  2. Paragraph (1) of subdivision e of section 11-270 of the adminis-
 trative code of the city of New York is amended by adding a new subpara-
 graph (c) to read as follows:
   (C) NOTWITHSTANDING ANY PROVISION OF LAW TO  THE  CONTRARY,  THE  TIME
 LIMIT  TO FILE A FINAL APPLICATION FOR BENEFITS AS SPECIFIED IN SUBPARA-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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