senate Bill S7031

Signed By Governor
2021-2022 Legislative Session

Extends certain provisions relating to a partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having a population of one million or more

download bill text pdf

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 (12)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 29, 2021 signed chap.184
Jun 17, 2021 delivered to governor
Jun 03, 2021 returned to senate
passed assembly
ordered to third reading rules cal.362
substituted for a7126
Jun 02, 2021 referred to ways and means
delivered to assembly
passed senate
Jun 01, 2021 ordered to third reading cal.1418
committee discharged and committed to rules
May 25, 2021 referred to cities 1

S7031 (ACTIVE) - Details

See Assembly Version of this Bill:
A7126
Law Section:
Real Property Tax Law
Laws Affected:
Amd §467-a, RPT L

S7031 (ACTIVE) - Summary

Extends certain provisions relating to a partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having a population of one million or more.

S7031 (ACTIVE) - Sponsor Memo

S7031 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7031
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                               May 25, 2021
                                ___________
 
 Introduced  by  Sen.  LIU  --  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  extending
   certain provisions relating to a partial tax abatement for residential
   real property held in the cooperative or condominium form of ownership
   in a city having 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. Paragraphs (a) and (b) of subdivision 2 of section 467-a of
 the real property tax law, as amended by chapter 90 of the laws of 2019,
 are amended to read as follows:
   (a) In a city having a population of one  million  or  more,  dwelling
 units  owned  by  unit  owners  who, as of the applicable taxable status
 date, own no more than three dwelling units in any one property held  in
 the  condominium  form  of  ownership,  shall  be  eligible to receive a
 partial abatement of real property taxes, as  set  forth  in  paragraphs
 (c),  (d),  (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi-
 sion; provided, however, that a property held in the condominium form of
 ownership that is  receiving  complete  or  partial  real  property  tax
 exemption or tax abatement pursuant to any other provision of this chap-
 ter or any other state or local law, except as provided in paragraph (f)
 of  this  subdivision, shall not be eligible to receive a partial abate-
 ment pursuant to this section;  and  provided,  further,  that  sponsors
 shall  not  be  eligible to receive a partial abatement pursuant to this
 section; and provided, further, that in the fiscal years  commencing  in
 calendar  years  two thousand twelve through two thousand [twenty] TWEN-
 TY-TWO no more than a maximum of three dwelling units owned by any  unit
 owner  in  a single building, one of which must be the primary residence
 of such unit owner, shall be eligible to  receive  a  partial  abatement
 pursuant  to  paragraphs  (d-1), (d-2), (d-3) and (d-4) of this subdivi-
 sion.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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