Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2024 |
referred to local government |
Dec 08, 2023 |
referred to rules |
Senate Bill S7798
2023-2024 Legislative Session
Sponsored By
(D) 16th Senate District
Current Bill Status - In Senate Committee Local Government Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
(D, WF) 25th Senate District
(D, WF) 17th Senate District
(D) 30th Senate District
(D, WF) 18th Senate District
2023-S7798 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8479
- Current Committee:
- Senate Local Government
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd §420-a, RPT L
2023-S7798 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7798 SPONSOR: LIU TITLE OF BILL: An act to amend the real property tax law, in relation to repealing the tax exempt status of educational institutions costing one hundred million dollars or more a year in real property tax exemptions PURPOSE: To allow New York State to tax higher education institutions whose real property tax exemptions are at or exceed one hundred million dollars or more per year. SUMMARY OF PROVISIONS: Section 1 amends subdivision 1 of section 420-a of the real property tax law by adding a new paragraph (c) to: *Repeal the real property tax exemption for private institutions used exclusively for educational purposes, whose real property tax exemptions
2023-S7798 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7798 2023-2024 Regular Sessions I N S E N A T E December 8, 2023 ___________ Introduced by Sens. LIU, CLEARE -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the real property tax law, in relation to repealing the tax exempt status of educational institutions costing one hundred million dollars or more a year in real property tax exemptions THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 420-a of the real property tax law is amended by adding a new paragraph (c) to read as follows: (C) (I) REAL PROPERTY OWNED BY A CORPORATION OR ASSOCIATION ORGANIZED OR CONDUCTED EXCLUSIVELY FOR EDUCATIONAL PURPOSES, AND WHICH HAS BEEN USED EXCLUSIVELY FOR EDUCATIONAL PURPOSES, SHALL NOT BE EXEMPT FROM TAXATION PURSUANT TO PARAGRAPH (A) OF THIS SUBDIVISION IF THE AMOUNT OF REAL PROPERTY TAXES EXEMPTED FOR SUCH PROPERTY DURING THE PRIOR FISCAL YEAR COSTS ONE HUNDRED MILLION DOLLARS OR MORE. (II) MONEYS FROM PROPERTY TAXES IMPOSED ON PRIVATE HIGHER EDUCATION FACILITIES PURSUANT TO SUBPARAGRAPH (I) OF THIS PARAGRAPH SHALL BE USED FOR THE CITY UNIVERSITY OF NEW YORK, AS ESTABLISHED BY ARTICLE ONE HUNDRED TWENTY-FIVE OF THE EDUCATION LAW. § 2. This act shall take effect on the same date as a concurrent resolution amending the constitution, entitled "CONCURRENT RESOLUTION OF THE SENATE AND ASSEMBLY proposing an amendment to section 1 of article 16 of the constitution, in relation to real property tax exemptions for educational institutions", takes effect. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13497-04-3
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