S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8183--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             October 27, 2023
                                ___________
 
 Introduced  by M. of A. SIMPSON -- read once and referred to the Commit-
   tee on Real Property Taxation -- recommitted to the Committee on  Real
   Property  Taxation  in  accordance  with  Assembly  Rule  3, sec. 2 --
   committee discharged, bill amended, ordered reprinted as  amended  and
   recommitted to said committee
 AN  ACT to amend the real property tax law and the real property law, in
   relation to the taxation of property owned  by  a  cooperative  corpo-
   ration
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 1 of section 581 of the real property  tax  law
 is amended by adding a new paragraph (e) to read as follows:
   (E)  THE  PROVISIONS  OF  PARAGRAPH  (A) OF THIS SUBDIVISION SHALL NOT
 APPLY TO REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE  CORPORATION  OR
 ON A CONDOMINIUM BASIS IN THE TOWNS OF BOLTON, HORICON, THURMAN, QUEENS-
 BURY, LAKE GEORGE, AND WARRENSBURG, LOCATED IN WARREN COUNTY, WHICH HAVE
 ADOPTED,  PRIOR  TO  THE TAXABLE STATUS DATE OF THE ASSESSMENT ROLL UPON
 WHICH THEIR  TAXES  WILL  BE  LEVIED,  LOCAL  LAWS  PROVIDING  THAT  THE
 PROVISIONS  OF PARAGRAPH (A) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH
 REAL PROPERTY WITHIN SUCH TOWNS; PROVIDED, HOWEVER,  THE  PROVISIONS  OF
 THIS  PARAGRAPH  SHALL  NOT  APPLY TO REAL PROPERTY OWNED OR LEASED BY A
 COOPERATIVE CORPORATION OR ON A CONDOMINIUM BASIS THAT HAD  BEEN  PREVI-
 OUSLY  SUBJECT  TO  THE  PROVISIONS OF PARAGRAPH (A) OF THIS SUBDIVISION
 PRIOR TO JANUARY FIRST,  TWO  THOUSAND  TWENTY-FIVE;  PROVIDED  FURTHER,
 HOWEVER,  THE PROVISIONS OF THIS PARAGRAPH SHALL NOT APPLY TO REAL PROP-
 ERTY OWNED OR LEASED BY A COOPERATIVE CORPORATION OR  ON  A  CONDOMINIUM
 BASIS  THAT IS PARTICIPATING IN AN AFFORDABLE HOUSING TAX CREDIT PROGRAM
 OR HAS A REGULATORY AGREEMENT WITH A FEDERAL,  STATE,  OR  LOCAL  AGENCY
 RELATED TO AFFORDABLE HOUSING REQUIREMENTS.
   §  2.  Subdivision  1  of  section  339-y  of the real property law is
 amended by adding a new paragraph (h) to read as follows:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13401-03-4
              
             
                          
                 A. 8183--A                          2
 
   (H) THE PROVISIONS OF PARAGRAPH (B)  OF  THIS  SUBDIVISION  SHALL  NOT
 APPLY  TO  REAL PROPERTY OWNED OR LEASED BY A COOPERATIVE CORPORATION OR
 ON A CONDOMINIUM BASIS IN THE TOWNS OF BOLTON, HORICON, THURMAN, QUEENS-
 BURY, LAKE GEORGE, AND WARRENSBURG, LOCATED IN WARREN COUNTY, WHICH HAVE
 ADOPTED,  PRIOR  TO  THE TAXABLE STATUS DATE OF THE ASSESSMENT ROLL UPON
 WHICH THEIR  TAXES  WILL  BE  LEVIED,  LOCAL  LAWS  PROVIDING  THAT  THE
 PROVISIONS  OF PARAGRAPH (B) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH
 REAL PROPERTY WITHIN SUCH TOWNS; PROVIDED, HOWEVER,  THE  PROVISIONS  OF
 THIS  PARAGRAPH  SHALL  NOT  APPLY TO REAL PROPERTY OWNED OR LEASED BY A
 COOPERATIVE CORPORATION OR ON A CONDOMINIUM BASIS THAT HAD  BEEN  PREVI-
 OUSLY  SUBJECT  TO  THE  PROVISIONS OF PARAGRAPH (B) OF THIS SUBDIVISION
 PRIOR TO JANUARY FIRST,  TWO  THOUSAND  TWENTY-FIVE;  PROVIDED  FURTHER,
 HOWEVER,  THE PROVISIONS OF THIS PARAGRAPH SHALL NOT APPLY TO REAL PROP-
 ERTY OWNED OR LEASED BY A COOPERATIVE CORPORATION OR  ON  A  CONDOMINIUM
 BASIS  THAT IS PARTICIPATING IN AN AFFORDABLE HOUSING TAX CREDIT PROGRAM
 OR HAS A REGULATORY AGREEMENT WITH A FEDERAL,  STATE,  OR  LOCAL  AGENCY
 RELATED TO AFFORDABLE HOUSING REQUIREMENTS.
   § 3. This act shall take effect immediately and shall apply to assess-
 ment rolls prepared on the basis of taxable status dates occurring on or
 after January 1, 2025.