Senate Bill S1482

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1482
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 12, 2023
                                ___________
 
 Introduced  by  Sen.  ORTT  --  read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to amend the real property tax law and the administrative code of
   the city of New York, in relation to establishing an interest  suspen-
   sion  and  installment  plan  for  rental properties during a declared
   emergency
 
   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 925-f to read as follows:
   § 925-F. INTEREST SUSPENSION AND INSTALLMENT PLAN FOR  RENTAL  PROPER-
 TIES  DURING  A  DECLARED EMERGENCY. 1. NOTWITHSTANDING ANY PROVISION OF
 LAW TO THE CONTRARY, A MUNICIPAL CORPORATION SHALL PROVIDE  TO  PROPERTY
 OWNERS  THE  ABILITY  TO  PAY  THEIR  PROPERTY TAXES WITHOUT INTEREST OR
 PENALTY IN TWELVE MONTHLY INSTALLMENTS FROM THE  TAX  LIEN  DAY  OF  THE
 COVERED  PERIOD  IF  THEY HAVE BEEN FINANCIALLY HARMED DUE TO A DECLARED
 EMERGENCY.
   2. IF  A  MUNICIPAL  CORPORATION  HAS  RECEIVED  UNRESTRICTED  FEDERAL
 ASSISTANCE  IN  RESPONSE  TO  REVENUE  SHORTFALLS CAUSED BY THE ECONOMIC
 IMPACTS OF THE COVID-19 PANDEMIC AFTER JULY FIRST, TWO THOUSAND  TWENTY,
 THAT  MUNICIPAL CORPORATION SHALL PROVIDE TO PROPERTY OWNERS THE ABILITY
 TO HAVE THEIR PROPERTY TAX OBLIGATION BE CALCULATED BY  MULTIPLYING  THE
 TAX  LIEN  BY A PERCENTAGE EQUAL TO THE AMOUNT OF RENT ACTUALLY RECEIVED
 DURING THE PREVIOUS TWELVE MONTHS FROM OCCUPIED  RENTAL  UNITS  IN  SUCH
 PROPERTY  RELATIVE  TO  THE TOTAL RENT THAT SHOULD HAVE BEEN RECEIVED IN
 RENT DURING THAT TIME FROM OCCUPIED RENTAL UNITS IN SUCH PROPERTY.
   3. A MUNICIPAL CORPORATION SHALL PROVIDE A TEMPORARY STATUS  WITH  THE
 FULL  PROVISIONS  OF  THIS  SECTION  TO A PROPERTY OWNER WHO APPLIES FOR
 RELIEF UNTIL IT CAN BE DETERMINED  THAT  THEY  ARE  ELIGIBLE  UNDER  THE
 PARAMETERS  PROVIDED UNDER THIS SECTION. IF A PROPERTY OWNER IS FOUND TO
 NOT BE ELIGIBLE, FULL PAYMENT OF THE TAX OBLIGATION  SHALL  BE  PROVIDED
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04988-01-3
              

 S. 1482                             2
 
 WITHIN  SEVEN BUSINESS DAYS OR OTHERWISE BE SUBJECTED TO ANY INTEREST OR
 PENALTY FEES.
   4.  FOR  PURPOSES  OF  THIS  SECTION,  THE FOLLOWING DEFINITIONS SHALL
 APPLY:
   A. "PROPERTY" SHALL INCLUDE RESIDENTIAL PREMISES IN WHICH AT LEAST ONE
 UNIT WITHIN THE DWELLING IS EITHER RENTED, LEASED, LET OR HIRED  OUT  TO
 BE OCCUPIED OR IS OCCUPIED AS THE RESIDENCE OR HOME.
   B.  "PROPERTY  OWNER"  SHALL  MEAN THE OWNER OF PROPERTY AS DEFINED IN
 PARAGRAPH A OF THIS SUBDIVISION.
   C. "COVERED PERIOD" SHALL INCLUDE TAX LIEN DAYS BETWEEN  APRIL  FIRST,
 TWO THOUSAND TWENTY AND MAY THIRTY-FIRST, TWO THOUSAND TWENTY-FOUR.
   D.  "FINANCIALLY  HARMED"  SHALL  MEAN  SUCH  PROPERTY  OWNER  HAS NOT
 RECEIVED THE FULL RENT OWED TO HIM OR  HER  DURING  THE  COVERED  PERIOD
 BECAUSE  A  TENANT OF THAT PROPERTY HAS HAD HIS OR HER INCOME NEGATIVELY
 AFFECTED DUE TO (I) GOVERNMENT RESTRICTIONS ON THEIR  EMPLOYMENT  ISSUED
 IN EXECUTIVE ORDER NUMBER TWO HUNDRED TWO OF TWO THOUSAND TWENTY OR (II)
 TANGIBLE ECONOMIC EFFECTS OF COVID-19.
   E.  "DECLARED  EMERGENCY"  SHALL  REFER  TO EXECUTIVE ORDER NUMBER TWO
 HUNDRED TWO OF TWO THOUSAND TWENTY AND ALL SUBSEQUENT  EXECUTIVE  ORDERS
 IN RESPONSE TO COVID-19.
   §  2.  The  administrative  code of the city of New York is amended by
 adding a new section 11-240.3 to read as follows:
   § 11-240.3 RELIEF FOR RENT REGULATED APARTMENTS DUE  TO  THE  COVID-19
 PANDEMIC.   1. NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, ANY
 REAL PROPERTY SHALL HAVE ITS PROPERTY TAX OBLIGATION FOR  TAX  YEAR  TWO
 THOUSAND  TWENTY-TWO--TWO THOUSAND TWENTY-THREE BE CONSISTENT AND IN THE
 SAME MANNER AS ITS OBLIGATION FOR  TAX  YEAR  TWO  THOUSAND  TWENTY--TWO
 THOUSAND  TWENTY-ONE,  AND  FURTHER  PROVIDED THAT THE PROPERTY TAX LIEN
 DATE FOR TAX YEAR TWO  THOUSAND  TWENTY-TWO--TWO  THOUSAND  TWENTY-THREE
 SHALL NOT BE BEFORE OCTOBER FIRST, TWO THOUSAND TWENTY-TWO.
   2.  FOR  PURPOSES OF THIS SECTION, "REAL PROPERTY" SHALL REFER TO REAL
 PROPERTY SUBJECT TO RENT REGULATION UNDER  THE  EMERGENCY  HOUSING  RENT
 CONTROL LAW OR THE EMERGENCY TENANT PROTECTION ACT THAT IS ALSO ELIGIBLE
 FOR  RELIEF  PROVIDED  IN SECTION NINE HUNDRED TWENTY-FIVE-F OF THE REAL
 PROPERTY TAX LAW.
   § 3. This act take effect immediately.