S T A T E O F N E W Y O R K
________________________________________________________________________
4806
2023-2024 Regular Sessions
I N S E N A T E
February 15, 2023
___________
Introduced by Sen. PALUMBO -- 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, in relation to the real prop-
erty tax exemption for industrial development agencies
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 1 of section 412-a of the real property tax
law, as amended by chapter 372 of the laws of 1991, is amended to read
as follows:
1. Real property owned by or under the jurisdiction, supervision or
control of industrial development agencies enumerated in the general
municipal law shall be entitled to such exemption as may be provided
therein; EXCEPT THAT IN COUNTIES WITH A POPULATION OF NOT LESS THAN ONE
MILLION FOUR HUNDRED NINETY THOUSAND NOR MORE THAN ONE MILLION FIVE
HUNDRED TEN THOUSAND AS DETERMINED BY THE LATEST FEDERAL DECENNIAL
CENSUS, SUCH REAL PROPERTY SHALL REMAIN SUBJECT TO TAXATION BY FIRE
DISTRICTS, FIRE PROTECTION DISTRICTS AND AMBULANCE DISTRICTS.
§ 2. 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 such date, but shall not apply to projects for which an agency,
through the issuance of its bonds, execution of leases or the passage of
an inducement resolution or bond resolution, has authorized any assist-
ance prior to the date on which this act shall have become a law, wheth-
er or not such projects are thereafter modified.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07167-01-3