Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 11, 2024 |
amended on third reading 967a |
Jan 16, 2024 |
advanced to third reading |
Jan 09, 2024 |
2nd report cal. |
Jan 08, 2024 |
1st report cal.85 |
Jan 03, 2024 |
referred to local government returned to senate died in assembly |
Jan 18, 2023 |
referred to real property taxation delivered to assembly passed senate |
Jan 17, 2023 |
ordered to third reading cal.80 reported and committed to rules |
Jan 09, 2023 |
referred to local government |
Senate Bill S967A
2023-2024 Legislative Session
Sponsored By
(D) 61st Senate District
Current Bill Status - On Floor Calendar
- 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
Votes
Bill Amendments
2023-S967 - Details
2023-S967 - Sponsor Memo
BILL NUMBER: S967 SPONSOR: RYAN TITLE OF BILL: An act to amend the real property tax law, in relation to delinquent tax interest rates PURPOSE OR GENERAL IDEA OF BILL: To cap the interest rate for delinquent tax payments due on owner occu- pied residential real property containing three or less dwelling units at 7.5%. SUMMARY OF SPECIFIC PROVISIONS: 1. Amends section 924-a of the real property tax law. 2. The effective date JUSTIFICATION:
2023-S967 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 967 2023-2024 Regular Sessions I N S E N A T E January 9, 2023 ___________ Introduced by Sen. RYAN -- 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 delinquent tax interest rates THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 924-a of the real property tax law, as amended by chapter 26 of the laws of 2003, is amended to read as follows: 1. The amount of interest to be added on all taxes received after the interest free period and all delinquent taxes shall be one-twelfth the rate of interest as determined pursuant to subdivision two or two-a of this section rounded to the nearest one-hundredth of a percentage point, except as otherwise provided by a general or special law, or a local law adopted by a city pursuant to the municipal home rule law or any special law. Such interest shall be added for each month or fraction thereof until such taxes are paid; PROVIDED HOWEVER, THAT NOTWITHSTANDING ANY PROVISION OF GENERAL, SPECIAL, OR LOCAL LAW OR RESOLUTION TO THE CONTRA- RY, BEGINNING IN ALL LOCAL FISCAL YEARS COMMENCING IN CALENDAR YEAR TWO THOUSAND TWENTY-FOUR AND THEREAFTER, IN NO CASE SHALL THE INTEREST RATE EXCEED SEVEN AND ONE-HALF PER CENTUM PER ANNUM OF DELINQUENT TAX PAYMENTS DUE ON OWNER OCCUPIED RESIDENTIAL REAL PROPERTY CONTAINING THREE OR FEWER DWELLING UNITS; AND PROVIDED FURTHER THAT THIS LIMITATION SHALL APPLY TO UNITS HELD IN CONDOMINIUM FORM; AND PROVIDED FURTHER THAT SUCH LIMITATION SHALL APPLY TO ALL BUILDINGS HELD IN COOPERATIVE FORM REGARDLESS OF OWNER OCCUPANCY STATUS; AND PROVIDED FURTHER THAT THIS LIMITATION SHALL NOT APPLY TO REAL PROPERTY THAT IS VACANT AND ABAN- DONED, AS DEFINED IN SUBDIVISION TWO OF SECTION THIRTEEN HUNDRED NINE OF THE REAL PROPERTY ACTIONS AND PROCEEDINGS LAW, WHICH WAS LISTED ON THE STATEWIDE VACANT AND ABANDONED PROPERTY ELECTRONIC REGISTRY, AS DEFINED IN SECTION THIRTEEN HUNDRED TEN OF THE REAL PROPERTY ACTIONS AND EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04542-01-3
co-Sponsors
(D, WF) 40th Senate District
(R) 1st Senate District
2023-S967A (ACTIVE) - Details
2023-S967A (ACTIVE) - Sponsor Memo
BILL NUMBER: S967A SPONSOR: RYAN TITLE OF BILL: An act to amend the real property tax law, in relation to delinquent tax interest rates PURPOSE OR GENERAL IDEA OF BILL: To tie the interest rate for delinquent tax payments due on real proper- ty to the prime interest rate and set a floor of two percent and ceiling of sixteen percent. SUMMARY OF SPECIFIC PROVISIONS: Section 1: Amends section 924-a of the real property tax law by tying the delinquent tax interest rate to the prime interest rate and setting a floor of two percent and ceiling of sixteen percent. Also specifies that the rate will be reviewed every five years. Section 2: effective date.
2023-S967A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 967--A Cal. No. 85 2023-2024 Regular Sessions I N S E N A T E January 9, 2023 ___________ Introduced by Sen. RYAN -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government -- recom- mitted to the Committee on Local Government in accordance with Senate Rule 6, sec. 8 -- reported favorably from said committee, ordered to first and second report, ordered to a third reading, amended and ordered reprinted, retaining its place in the order of third reading AN ACT to amend the real property tax law, in relation to delinquent tax interest rates THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 924-a of the real property tax law, as amended by chapter 26 of the laws of 2003, is amended to read as follows: 1. The amount of interest to be added on all taxes received after the interest free period and all delinquent taxes shall be one-twelfth the rate of interest as determined pursuant to subdivision two or two-a of this section rounded to the nearest one-hundredth of a percentage point, except as otherwise provided by a general or special law, or a local law adopted by a city pursuant to the municipal home rule law or any special law. Such interest shall be added for each month or fraction thereof until such taxes are paid; PROVIDED HOWEVER, THAT NOTWITHSTANDING ANY PROVISION OF GENERAL, SPECIAL, OR LOCAL LAW OR RESOLUTION TO THE CONTRA- RY, BEGINNING IN ALL LOCAL FISCAL YEARS COMMENCING IN CALENDAR YEAR TWO THOUSAND TWENTY-FIVE AND THEREAFTER, IN NO CASE SHALL THE INTEREST RATE OF DELINQUENT TAX PAYMENTS DUE ON RESIDENTIAL REAL PROPERTY EXCEED THE PRIME INTEREST RATE, AS DETERMINED BY THE COMMISSIONER, PROVIDED THAT IN NO INSTANCE SHALL THE INTEREST RATE SUBCEED TWO PER CENTUM PER ANNUM OR EXCEED SIXTEEN PER CENTUM PER ANNUM; AND PROVIDED FURTHER THAT THIS LIMITATION SHALL APPLY TO UNITS HELD IN CONDOMINIUM FORM; AND PROVIDED FURTHER THAT SUCH LIMITATION SHALL APPLY TO ALL BUILDINGS HELD IN COOP- ERATIVE FORM REGARDLESS OF OWNER OCCUPANCY STATUS; AND PROVIDED FURTHER EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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