Authorizes cities and towns, except a city with a population of one million or more, to establish community preservation funds
download bill text pdf| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jan 28, 2025 |
referred to local governments |
S T A T E O F N E W Y O R K
________________________________________________________________________
3533
2025-2026 Regular Sessions
I N A S S E M B L Y
January 28, 2025
___________
Introduced by M. of A. LEVENBERG, BARRETT, JACOBSON, OTIS, FORREST,
ROSENTHAL, BRABENEC, MAHER -- read once and referred to the Committee
on Local Governments
AN ACT to amend the general municipal law, in relation to authorizing
cities and towns, except a city with a population of one million or
more, to establish community preservation funds; and to amend the tax
law, in relation to authorizing cities and towns, except a city with a
population of one million or more, to impose a real estate transfer
tax with revenues therefrom to be deposited in such funds
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The general municipal law is amended by adding a new
section 6-w to read as follows:
§ 6-W. COMMUNITY PRESERVATION FUNDS. 1. AS USED IN THIS SECTION, THE
FOLLOWING WORDS AND TERMS SHALL HAVE THE FOLLOWING MEANINGS:
(A) "COMMUNITY PRESERVATION" SHALL MEAN AND INCLUDE ANY OF THE
PURPOSES OUTLINED IN SUBDIVISION FOUR OF THIS SECTION.
(B) "BOARD" MEANS THE ADVISORY BOARD REQUIRED PURSUANT TO SUBDIVISION
FIVE OF THIS SECTION.
(C) "CITY OR TOWN" MEANS A CITY, EXCEPT A CITY WITH A POPULATION OF
ONE MILLION OR MORE, OR A TOWN.
(D) "GOVERNING BODY" MEANS A CITY COUNCIL OR TOWN BOARD.
(E) "FUND" MEANS THE COMMUNITY PRESERVATION FUND CREATED PURSUANT TO
SUBDIVISION TWO OF THIS SECTION.
(F) "WATER QUALITY IMPROVEMENT PROJECT" MEANS: (1) ANY PROJECT ELIGI-
BLE FOR STATE FUNDING UNDER THE CLEAN WATER INFRASTRUCTURE FUND OF TWO
THOUSAND SEVENTEEN, PURSUANT TO PART T OF CHAPTER FIFTY-SEVEN OF THE
LAWS OF TWO THOUSAND SEVENTEEN OR (2) ANY PROJECT ELIGIBLE FOR STATE
FUNDING AS A SAFE DRINKING WATER PROJECT OR CLEAN WATER PROJECT PURSUANT
TO TITLE TWO OR TITLE THREE OF ARTICLE FIFTY-SIX OF THE ENVIRONMENTAL
CONSERVATION LAW.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06217-01-5
A. 3533 2
2. THE GOVERNING BODY OF ANY CITY OR TOWN IS AUTHORIZED TO ESTABLISH
BY LOCAL LAW A COMMUNITY PRESERVATION FUND PURSUANT TO THE PROVISIONS OF
THIS SECTION. DEPOSITS INTO THE FUND MAY INCLUDE REVENUES OF THE LOCAL
GOVERNMENT FROM WHATEVER SOURCE AND SHALL INCLUDE, AT A MINIMUM, ALL
REVENUES FROM A TAX IMPOSED UPON THE TRANSFER OF REAL PROPERTY INTERESTS
IN SUCH CITY OR TOWN PURSUANT TO SUBDIVISION ONE OF SECTION FIFTEEN
HUNDRED SEVENTY-SIX OF THE TAX LAW. THE FUND SHALL ALSO BE AUTHORIZED TO
ACCEPT GIFTS OF ANY SUCH INTERESTS IN LAND OR OF FUNDS. INTEREST ACCRUED
BY MONIES DEPOSITED INTO THE FUND SHALL BE CREDITED TO THE FUND. IN NO
EVENT SHALL MONIES DEPOSITED IN THE FUND BE TRANSFERRED TO ANY OTHER
ACCOUNT. NOTHING CONTAINED IN THIS SECTION SHALL BE CONSTRUED TO PREVENT
THE FINANCING IN WHOLE OR IN PART, PURSUANT TO THE LOCAL FINANCE LAW, OF
ANY ACQUISITION AUTHORIZED PURSUANT TO THIS SECTION. MONIES FROM THE
FUND MAY BE UTILIZED TO REPAY ANY INDEBTEDNESS OR OBLIGATIONS INCURRED
PURSUANT TO THE LOCAL FINANCE LAW CONSISTENT WITH EFFECTUATING THE
PURPOSES OF THIS SECTION.
3. THE PURPOSES OF THE FUND SHALL BE EXCLUSIVELY, (A) TO IMPLEMENT A
PLAN FOR THE PRESERVATION OF COMMUNITY CHARACTER AS REQUIRED BY THIS
SECTION, (B) TO ACQUIRE INTERESTS OR RIGHTS IN REAL PROPERTY FOR THE
PRESERVATION OF COMMUNITY CHARACTER WITHIN THE DESIGNATED CITY OR TOWN
INCLUDING VILLAGES THEREIN IN ACCORDANCE WITH SUCH PLAN AND IN COOPER-
ATION WITH WILLING SELLERS, (C) TO ESTABLISH A BANK PURSUANT TO A TRANS-
FER OF DEVELOPMENT RIGHTS PROGRAM AS PERMITTED BY LAW, (D) TO PROVIDE A
MANAGEMENT AND STEWARDSHIP PROGRAM FOR SUCH INTERESTS AND RIGHTS
CONSISTENT WITH SUBDIVISION NINE OF THIS SECTION AND IN ACCORDANCE WITH
SUCH PLAN DESIGNED TO PRESERVE COMMUNITY CHARACTER; PROVIDED THAT NOT
MORE THAN TEN (10) PERCENT OF THE FUND SHALL BE UTILIZED FOR THE MANAGE-
MENT AND STEWARDSHIP PROGRAM, AND (E) TO IMPLEMENT WATER QUALITY
IMPROVEMENT PROJECTS IN ACCORDANCE WITH A PLAN TO PRESERVE COMMUNITY
CHARACTER. IF THE IMPLEMENTATION OF THE COMMUNITY PRESERVATION PROJECT
PLAN, ADOPTED BY A GOVERNING BODY, AS PROVIDED IN SUBDIVISION SIX OF
THIS SECTION, HAS BEEN COMPLETED, AND FUNDS ARE NO LONGER NEEDED FOR THE
PURPOSES OUTLINED IN THIS SUBDIVISION, THEN ANY REMAINING MONIES IN THE
FUND SHALL BE APPLIED TO REDUCE ANY BONDED INDEBTEDNESS OR OBLIGATIONS
INCURRED TO EFFECTUATE THE PURPOSES OF THIS SECTION. PRELIMINARY AND
INCIDENTAL COSTS IN CONNECTION WITH THE ACQUISITION OF INTERESTS OR
RIGHTS IN REAL PROPERTY, PURSUANT TO THIS SUBDIVISION, SHALL BE DEEMED
PART OF THE COST OF THE ACQUISITION FOR WHICH THEY WERE INCURRED. SUCH
EXPENDITURES MAY INCLUDE ANY ADMINISTRATIVE OR OTHER EXPENDITURES
DIRECTLY ARISING THEREFROM. NO EXPENDITURE SHALL BE CHARGED TO THE FUND,
UNLESS AUTHORIZED BY LAW. A FULL ACCOUNTING OF SUCH COSTS FOR EACH
ACQUISITION OF LAND SHALL BE PROVIDED BY THE GOVERNING BODY.
4. PRESERVATION OF COMMUNITY CHARACTER SHALL INVOLVE ONE OR MORE OF
THE FOLLOWING: (A) ESTABLISHMENT OF PARKS, NATURE PRESERVES, OR RECRE-
ATION AREAS; (B) PRESERVATION OF OPEN SPACE, INCLUDING AGRICULTURAL
LANDS PROVIDED, HOWEVER, THAT FARM BUILDINGS AND STRUCTURES USED FOR THE
PRODUCTION AND MARKETING OF FARM PRODUCTS PRODUCED ON SUCH AGRICULTURAL
LANDS SHALL BE PERMITTED; (C) PRESERVATION OF LANDS OF EXCEPTIONAL
SCENIC VALUE; (D) PRESERVATION OF FRESH AND SALTWATER MARSHES OR OTHER
WETLANDS; (E) PRESERVATION OF AQUIFER RECHARGE AREAS; (F) PRESERVATION
OF UNDEVELOPED BEACH LANDS OR SHORELINE INCLUDING THOSE AT SIGNIFICANT
RISK OF COASTAL FLOODING DUE TO PROJECTED SEA LEVEL RISE AND FUTURE
STORMS; (G) ESTABLISHMENT OF WILDLIFE REFUGES FOR THE PURPOSE OF MAIN-
TAINING NATIVE ANIMAL SPECIES DIVERSITY, INCLUDING THE PROTECTION OF
HABITAT ESSENTIAL TO THE RECOVERY OF RARE, THREATENED OR ENDANGERED
SPECIES; (H) PRESERVATION OF PINE BARRENS CONSISTING OF SUCH BIOTA AS
A. 3533 3
PITCH PINE, AND SCRUB OAK; (I) PRESERVATION OF UNIQUE OR THREATENED
ECOLOGICAL AREAS; (J) PRESERVATION OF RIVERS AND RIVER AREAS IN A
NATURAL, FREE-FLOWING CONDITION; (K) PRESERVATION OF FORESTED LAND; (L)
PRESERVATION OF PUBLIC ACCESS TO LANDS FOR PUBLIC USE INCLUDING STREAM
RIGHTS AND WATERWAYS; (M) PRESERVATION OF HISTORIC PLACES AND PROPERTIES
LISTED ON THE NEW YORK STATE REGISTER OF HISTORIC PLACES AND/OR
PROTECTED UNDER A MUNICIPAL HISTORIC PRESERVATION ORDINANCE OR LAW; (N)
PRESERVATION OF LANDS NECESSARY TO PROTECT FISHERIES AND WATER DEPENDENT
USES ESSENTIAL TO MAINTAIN AND ENHANCE MARITIME HERITAGE; AND (O) UNDER-
TAKING ANY OF THE AFOREMENTIONED IN FURTHERANCE OF THE ESTABLISHMENT OF
A GREENBELT. PRESERVATION OF COMMUNITY CHARACTER SHALL ALSO INCLUDE THE
PROTECTION AND IMPROVEMENT OF THE QUALITY OF ALL WATER RESOURCES.
5. THE GOVERNING BODY OF ANY CITY OR TOWN WHICH HAS ESTABLISHED A
COMMUNITY PRESERVATION FUND SHALL CREATE AN ADVISORY BOARD TO REVIEW AND
MAKE RECOMMENDATIONS ON PROPOSED ACQUISITIONS OF INTERESTS IN REAL PROP-
ERTY OR WATER QUALITY IMPROVEMENT PROJECTS USING MONIES FROM THE FUND.
SUCH BOARD SHALL CONSIST OF FIVE OR SEVEN LEGAL RESIDENTS OF THE MUNICI-
PALITY WHO SHALL SERVE WITHOUT COMPENSATION. NO MEMBER OF THE LOCAL
LEGISLATIVE BODY SHALL SERVE ON THE BOARD. A MAJORITY OF THE MEMBERS OF
THE BOARD SHALL HAVE DEMONSTRATED EXPERIENCE WITH CONSERVATION AND LAND
PRESERVATION ACTIVITIES OR WATER QUALITY IMPROVEMENT ACTIVITIES. THE
BOARD SHALL ACT IN AN ADVISORY CAPACITY TO THE GOVERNING BODY.
6. THE GOVERNING BODY OF ANY CITY OR TOWN WHICH HAS ESTABLISHED A
COMMUNITY PRESERVATION FUND SHALL, BY LOCAL LAW, ADOPT A COMMUNITY PRES-
ERVATION PROJECT PLAN. THIS PLAN SHALL LIST EVERY PROJECT WHICH THE CITY
OR TOWN PLANS TO UNDERTAKE PURSUANT TO THE COMMUNITY PRESERVATION FUND.
IT SHALL INCLUDE EVERY PARCEL WHICH IS NECESSARY TO BE ACQUIRED IN THE
CITY OR TOWN IN ORDER TO PROTECT COMMUNITY CHARACTER. SUCH PLAN SHALL
PROVIDE FOR A DETAILED EVALUATION OF ALL AVAILABLE LAND USE ALTERNATIVES
TO PROTECT COMMUNITY CHARACTER, INCLUDING BUT NOT LIMITED TO: (A) FEE
SIMPLE ACQUISITION, (B) ZONING REGULATIONS, INCLUDING DENSITY
REDUCTIONS, CLUSTER DEVELOPMENT, AND SITE PLAN AND DESIGN REQUIREMENTS,
(C) TRANSFER OF DEVELOPMENT RIGHTS, (D) THE PURCHASE OF DEVELOPMENT
RIGHTS, AND (E) SCENIC AND CONSERVATION EASEMENTS. SAID EVALUATION SHALL
BE AS SPECIFIC AS PRACTICABLE AS TO EACH PARCEL SELECTED FOR INCLUSION
IN THE PLAN. THE PLAN SHALL ESTABLISH THE PRIORITIES FOR PRESERVATION.
SAID PLAN SHALL ALSO LIST EVERY WATER QUALITY IMPROVEMENT PROJECT WHICH
THE CITY OR TOWN PLANS TO UNDERTAKE PURSUANT TO THE COMMUNITY PRESERVA-
TION FUND AND SHALL STATE HOW SUCH PROJECT WOULD IMPROVE EXISTING WATER
QUALITY. PROJECTS WHICH HAVE AS THEIR PURPOSE THE ACCOMMODATION OF NEW
GROWTH AS OPPOSED TO THE REMEDIATION OF WATER QUALITY SHALL NOT QUALIFY
FOR FUNDING UNDER THIS SECTION. FUNDS FROM THE COMMUNITY PRESERVATION
FUND MAY ONLY BE EXPENDED FOR PROJECTS WHICH HAVE BEEN INCLUDED IN SAID
PLAN. THE PLAN SHALL BE UPDATED NOT LESS THAN ONCE EVERY FIVE YEARS AND
SHALL BE COMPLETED AT LEAST SIXTY (60) DAYS BEFORE THE SUBMISSION OF THE
MANDATORY REFERENDUM REQUIRED BY SECTION FIFTEEN HUNDRED SEVENTY-SIX OF
THE TAX LAW. AS PART OF, OR IN ADDITION, TO SAID COMMUNITY PRESERVATION
FUND PROJECT PLAN, EACH GOVERNING BODY MAY ALSO ADOPT A MANAGEMENT AND
STEWARDSHIP PLAN FOR INTERESTS OR RIGHTS IN REAL PROPERTY ACQUIRED
PURSUANT TO THIS SECTION. NO MONIES FROM THE FUND SHALL BE EXPENDED FOR
MANAGEMENT AND STEWARDSHIP, EXCEPT AS APPROVED IN SAID PLAN. SAID PLAN
MAY PROVIDE MANAGEMENT AND STEWARDSHIP PROJECTS FOR UP TO A THREE YEAR
PERIOD AND SHALL PROVIDE A DESCRIPTION AND ESTIMATED COST FOR EACH
PROJECT. SAID PLAN SHALL BE APPROVED AND ADOPTED BY LOCAL LAW AND MAY BE
UPDATED FROM TIME TO TIME AT THE DISCRETION OF THE LOCAL GOVERNING BODY.
A. 3533 4
ONLY MANAGEMENT AND STEWARDSHIP PROJECTS PERMITTED PURSUANT TO SUBDIVI-
SION NINE OF THIS SECTION SHALL BE ELIGIBLE TO BE INCLUDED IN THE PLAN.
7. THE GOVERNING BODY OF ANY CITY OR TOWN WHICH HAS ESTABLISHED A
COMMUNITY PRESERVATION FUND PURSUANT TO THIS SECTION SHALL CONSIDER
ESTABLISHING A TRANSFER OF DEVELOPMENT RIGHTS PROGRAM TO PROTECT COMMU-
NITY CHARACTER CONSISTENT WITH STATE LAW. IF AT ANY TIME DURING THE LIFE
OF THE COMMUNITY PRESERVATION FUND A TRANSFER OF DEVELOPMENT RIGHTS
PROGRAM IS ESTABLISHED, THE CITY OR TOWN MAY UTILIZE MONIES FROM THE
COMMUNITY PRESERVATION FUND IN ORDER TO CREATE AND FUND A CENTRAL BANK
OF THE TRANSFER OF DEVELOPMENT RIGHTS PROGRAM. IF AT ANY TIME DURING THE
LIFE OF THE COMMUNITY PRESERVATION FUND, A TRANSFER OF DEVELOPMENT
RIGHTS PROGRAM IS REPEALED BY THE CITY OR TOWN, ALL MONIES FROM THE
CENTRAL BANK SHALL BE RETURNED TO THE COMMUNITY PRESERVATION FUND.
8. NO INTERESTS OR RIGHTS IN REAL PROPERTY SHALL BE ACQUIRED PURSUANT
TO THIS SECTION UNTIL A PUBLIC HEARING IS HELD AS REQUIRED BY SECTION
TWO HUNDRED FORTY-SEVEN OF THIS CHAPTER; PROVIDED, HOWEVER, THAT NOTHING
IN THIS SECTION SHALL PREVENT THE GOVERNING BODY FROM ENTERING INTO A
CONDITIONAL PURCHASE AGREEMENT BEFORE A PUBLIC HEARING IS HELD. ANY
RESOLUTION OF A GOVERNING BODY APPROVING AN ACQUISITION OF LAND PURSUANT
TO THIS SECTION, SHALL FIND THAT ACQUISITION WAS THE BEST ALTERNATIVE
FOR THE PROTECTION OF COMMUNITY CHARACTER OF ALL THE REASONABLE ALTERNA-
TIVES AVAILABLE TO THE CITY OR TOWN.
9. LANDS ACQUIRED PURSUANT TO THIS SECTION SHALL BE ADMINISTERED AND
MANAGED IN A MANNER WHICH (A) ALLOWS PUBLIC USE AND ENJOYMENT IN A
MANNER COMPATIBLE WITH THE NATURAL, SCENIC, HISTORIC AND OPEN SPACE
CHARACTER OF SUCH LANDS; (B) PRESERVES THE NATIVE BIOLOGICAL DIVERSITY
OF SUCH LANDS; (C) WITH REGARD TO OPEN SPACES, LIMITS IMPROVEMENTS TO
ENHANCING ACCESS FOR PASSIVE USE OF SUCH LANDS SUCH AS NATURE TRAILS,
BOARDWALKS, BICYCLE PATHS, AND PERIPHERAL PARKING AREAS PROVIDED THAT
SUCH IMPROVEMENTS DO NOT DEGRADE THE ECOLOGICAL VALUE OF THE LAND OR
THREATEN ESSENTIAL WILDLIFE HABITAT; AND (D) PRESERVES CULTURAL PROPERTY
CONSISTENT WITH ACCEPTED STANDARDS FOR HISTORIC PRESERVATION. IN
FURTHERING THE PURPOSES OF THIS SECTION, THE CITY OR TOWN MAY ENTER INTO
AGREEMENTS WITH CONSERVATION ORGANIZATIONS FORMED UNDER THE NOT-FOR-PRO-
FIT CORPORATION LAW AND ENGAGED IN LAND TRUST ACTIVITIES TO MANAGE
LANDS, INCLUDING LESS THAN FEE INTERESTS ACQUIRED PURSUANT TO THE
PROVISIONS OF THIS SECTION, PROVIDED THAT ANY SUCH AGREEMENT SHALL
CONTAIN A PROVISION THAT SUCH CORPORATION SHALL KEEP THE LANDS ACCESSI-
BLE TO THE PUBLIC UNLESS THE GOVERNING BODY FINDS THAT PUBLIC ACCESSI-
BILITY WOULD BE DETRIMENTAL TO THE LANDS OR ANY NATURAL RESOURCES ASSO-
CIATED THEREWITH. EXCEPT FOR INTERESTS OR RIGHTS IN REAL PROPERTY
ACQUIRED FOR HISTORIC PRESERVATION PURPOSES, MANAGEMENT AND STEWARDSHIP
PROJECTS SHALL BE ONLY EXPENDED FOR (1) PROJECTS WHICH PROMOTE THE
PROTECTION OR ENHANCEMENT OF THE NATURAL, SCENIC, AND OPEN SPACE CHARAC-
TER FOR WHICH THE INTERESTS OR RIGHTS IN REAL PROPERTY WERE ACQUIRED, OR
(2) ACCESSORY USES RELATED TO THE PURPOSE FOR WHICH THE INTERESTS OR
RIGHTS IN REAL PROPERTY WERE ACQUIRED CONSISTENT WITH THIS SUBDIVISION,
OR (3) RESTORATION OF ACQUIRED REAL PROPERTY TO ITS NATURAL STATE
INCLUDING THE DEMOLITION OF EXISTING BUILDINGS AND STRUCTURES. IN THE
CASE OF INTERESTS OR RIGHTS IN REAL PROPERTY ACQUIRED FOR HISTORIC PRES-
ERVATION PURPOSES, FUNDS MAY BE EXPENDED ONLY FOR THE RESTORATION AND
REHABILITATION OF BUILDINGS AND STRUCTURES CONSISTENT WITH ACCEPTED
STATE AND FEDERAL STANDARDS FOR HISTORIC PRESERVATION. EXPENSES RELATED
TO THE CUSTOMARY OPERATION AND MAINTENANCE OF ACQUIRED INTERESTS OR
RIGHTS IN REAL PROPERTY SHALL NOT BE PERMITTED FROM THE FUND. ANY
A. 3533 5
EXPENDITURE FROM THE FUND FOR A PURPOSE OTHER THAN THAT PERMITTED, HERE-
IN, SHALL BE DEEMED TO BE PROHIBITED.
10. RIGHTS OR INTERESTS IN REAL PROPERTY ACQUIRED WITH MONIES FROM
SUCH FUND SHALL NOT BE SOLD, LEASED, EXCHANGED, DONATED, OR OTHERWISE
DISPOSED OF OR USED FOR OTHER THAN THE PURPOSES PERMITTED BY THIS
SECTION WITHOUT THE EXPRESS AUTHORITY OF AN ACT OF THE LEGISLATURE,
WHICH SHALL PROVIDE FOR THE SUBSTITUTION OF OTHER LANDS OF EQUAL ENVI-
RONMENTAL VALUE AND FAIR MARKET VALUE AND REASONABLY EQUIVALENT USEFUL-
NESS AND LOCATION TO THOSE TO BE DISCONTINUED, SOLD OR DISPOSED OF, AND
SUCH OTHER REQUIREMENTS AS SHALL BE APPROVED BY THE LEGISLATURE. NOTHING
IN THIS SECTION SHALL PRECLUDE A CITY OR TOWN, BY LOCAL LAW, FROM ESTAB-
LISHING ADDITIONAL RESTRICTIONS TO THE ALIENATION OF LANDS ACQUIRED
PURSUANT TO THIS SECTION. THIS SUBDIVISION SHALL NOT APPLY TO THE SALE
OF DEVELOPMENT RIGHTS BY A CITY OR TOWN ACQUIRED PURSUANT TO THIS
SECTION, WHERE SAID SALE IS MADE BY A CENTRAL BANK CREATED BY A CITY OR
TOWN, PURSUANT TO A TRANSFER OF DEVELOPMENT RIGHTS PROGRAM ESTABLISHED
BY A CITY OR TOWN, PROVIDED, HOWEVER (A) THAT THE LANDS FROM WHICH SAID
DEVELOPMENT RIGHTS WERE ACQUIRED SHALL REMAIN PRESERVED IN PERPETUITY BY
A PERMANENT CONSERVATION EASEMENT OR OTHER INSTRUMENT THAT SIMILARLY
PRESERVES THE COMMUNITY CHARACTER REFERENCED IN SUBDIVISION FOUR OF THIS
SECTION, AND (B) THE PROCEEDS FROM SUCH SALE SHALL BE DEPOSITED IN THE
COMMUNITY PRESERVATION FUND.
11. NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY, CITIES OR
TOWNS MAY ENTER INTO INTER-MUNICIPAL AGREEMENTS PURSUANT TO ARTICLE
FIVE-G OF THIS CHAPTER FOR THE FOLLOWING PURPOSES: (A) TO JOINTLY
ACQUIRE INTERESTS OR RIGHTS IN REAL PROPERTY, CONSISTENT WITH THE
PURPOSES OF THIS SECTION, WHERE THE ACQUISITION OF SUCH INTERESTS OR
RIGHTS PROMOTES A REGIONAL PUBLIC BENEFIT FOR TWO OR MORE CITIES OR
TOWNS PURSUANT TO A REGIONAL PLAN, (B) TO ESTABLISH AN OFFICE OR DEPART-
MENT TO RENDER LEGAL OPINIONS AND INTERPRETATIONS TO FACILITATE THE
EFFICIENT AND CONSISTENT ADMINISTRATION OF EACH FUND CREATED UNDER THIS
SECTION, (C) TO PROVIDE FOR AN INDEPENDENT FINANCIAL AUDIT OF EACH
CITY'S OR TOWN'S FUND, AND (D) TO HIRE EMPLOYEES NECESSARY TO IMPLEMENT
THE PROVISIONS OF THIS SECTION.
12. EACH CITY OR TOWN WHICH HAS ESTABLISHED A COMMUNITY PRESERVATION
FUND SHALL ANNUALLY COMMISSION AN INDEPENDENT AUDIT OF THE FUND. THE
AUDIT SHALL BE CONDUCTED BY AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT
OR AN INDEPENDENT PUBLIC ACCOUNTANT. SAID AUDIT SHALL BE PERFORMED BY A
CERTIFIED PUBLIC ACCOUNTANT OR AN INDEPENDENT PUBLIC ACCOUNTANT OTHER
THAN THE ONE THAT PERFORMS THE GENERAL AUDIT OF EACH CITY'S OR TOWN'S
FINANCES. SUCH AUDIT SHALL BE AN EXAMINATION OF THE FUND AND SHALL
DETERMINE WHETHER THE FUND HAS BEEN ADMINISTERED CONSISTENT WITH THE
PROVISIONS OF THIS SECTION AND ALL OTHER APPLICABLE PROVISIONS OF STATE
LAW. SAID AUDIT SHALL BE INITIATED WITHIN SIXTY DAYS OF THE CLOSE OF THE
FISCAL YEAR OF EACH CITY OR TOWN AND SHALL BE COMPLETED WITHIN ONE
HUNDRED TWENTY DAYS OF THE CLOSE OF THE FISCAL YEAR. A COPY OF THE AUDIT
SHALL BE SUBMITTED ANNUALLY TO THE STATE COMPTROLLER AND THE CITY OR
TOWN CLERK. A COPY OF THE AUDIT SHALL BE MADE AVAILABLE TO THE PUBLIC
WITHIN THIRTY DAYS OF ITS COMPLETION. A NOTICE OF THE COMPLETION OF THE
AUDIT SHALL BE PUBLISHED IN THE OFFICIAL NEWSPAPER OF THE CITY OR TOWN
AND POSTED ON THE OFFICIAL SIGN BOARD OF THE CITY OR TOWN WITHIN TEN
DAYS OF ITS FILING WITH THE TOWN CLERK. SAID AUDIT AND NOTICE SHALL
ALSO BE POSTED ON THE INTERNET SITE FOR THE CITY OR TOWN. THE COST OF
THE AUDIT MAY BE A CHARGE TO THE FUND.
13. THE COST OF EMPLOYEES AND INDEPENDENT CONTRACTORS TO IMPLEMENT THE
PROVISIONS OF THIS SECTION MAY ONLY BE PAID FOR BY THE FUND WHERE THE
A. 3533 6
DUTIES AND RESPONSIBILITIES OF SAID EMPLOYEES AND INDEPENDENT CONTRAC-
TORS ARE DIRECTLY DEDICATED TO IMPLEMENTING THE PROVISIONS OF THIS
SECTION. WHERE SUCH EMPLOYEES AND INDEPENDENT CONTRACTORS ARE NOT EXCLU-
SIVELY DEDICATED TO IMPLEMENTING THE PROVISIONS OF THIS SECTION, NO MORE
THAN THE COST OF THE ACTUAL TIME EXPENDED DIRECTLY DEDICATED TO IMPLE-
MENTING THE PROVISIONS OF THIS SECTION MAY BE CHARGED. SUCH COSTS SHALL
BE EXPRESSLY IDENTIFIED IN THE CITY OR TOWN BUDGET AND ANY PLAN ADOPTED
PURSUANT TO THIS SECTION BEFORE FUNDS FOR SUCH COSTS MAY BE EXPENDED. IN
ADDITION, SUCH COSTS MUST BE DOCUMENTED BY A TIME ACCOUNTING SYSTEM,
SUBJECT TO AUDIT. COSTS RELATING TO THE ACTIVITIES OF ELECTED OFFICIALS
IMPLEMENTING THE PURPOSES OF THIS SECTION MAY NOT BE A CHARGE TO THE
FUND.
§ 2. The tax law is amended by adding a new article 33-C to read as
follows:
ARTICLE 33-C
TAX ON REAL ESTATE TRANSFERS IN CITIES OR TOWNS
SECTION 1575. DEFINITIONS.
1576. IMPOSITION OF TAX.
1577. PAYMENT OF TAX.
1578. LIABILITY FOR TAX.
1579. EXEMPTIONS.
1580. CREDIT.
1581. COOPERATIVE HOUSING CORPORATION TRANSFERS.
1582. DESIGNATION OF AGENTS.
1583. LIABILITY OF RECORDING OFFICER.
1584. DEPOSIT AND DISPOSITION OF REVENUE.
1585. JUDICIAL REVIEW.
1586. APPORTIONMENT.
1587. MISCELLANEOUS.
1588. RETURNS TO BE SECRET.
§ 1575. DEFINITIONS. WHEN USED IN THIS ARTICLE, UNLESS OTHERWISE
EXPRESSLY STATED, THE FOLLOWING WORDS AND TERMS SHALL HAVE THE FOLLOWING
MEANINGS:
1. "PERSON" MEANS AN INDIVIDUAL, PARTNERSHIP, LIMITED LIABILITY COMPA-
NY, SOCIETY, ASSOCIATION, JOINT STOCK COMPANY, CORPORATION, ESTATE,
RECEIVER, TRUSTEE, ASSIGNEE, REFEREE OR ANY OTHER PERSON ACTING IN A
FIDUCIARY OR REPRESENTATIVE CAPACITY, WHETHER APPOINTED BY A COURT OR
OTHERWISE, ANY COMBINATION OF INDIVIDUALS, AND ANY OTHER FORM OF UNIN-
CORPORATED ENTERPRISE OWNED OR CONDUCTED BY TWO OR MORE PERSONS.
2. "CONTROLLING INTEREST" MEANS (A) IN THE CASE OF A CORPORATION,
EITHER FIFTY PERCENT OR MORE OF THE TOTAL COMBINED VOTING POWER OF ALL
CLASSES OF STOCK OF SUCH CORPORATION, OR FIFTY PERCENT OR MORE OF THE
CAPITAL, PROFITS OR BENEFICIAL INTEREST IN SUCH VOTING STOCK OF SUCH
CORPORATION, AND (B) IN THE CASE OF A PARTNERSHIP, ASSOCIATION, TRUST OR
OTHER ENTITY, FIFTY PERCENT OR MORE OF THE CAPITAL, PROFITS OR BENEFI-
CIAL INTEREST IN SUCH PARTNERSHIP, ASSOCIATION, TRUST OR OTHER ENTITY.
3. "REAL PROPERTY" MEANS EVERY ESTATE OR RIGHT, LEGAL OR EQUITABLE,
PRESENT OR FUTURE, VESTED OR CONTINGENT, IN LANDS, TENEMENTS OR HEREDI-
TAMENTS, INCLUDING BUILDINGS, STRUCTURES AND OTHER IMPROVEMENTS THEREON,
WHICH ARE LOCATED IN WHOLE OR IN PART WITHIN ANY CITY OR TOWN. IT SHALL
NOT INCLUDE RIGHTS TO SEPULTURE.
4. "CONSIDERATION" MEANS THE PRICE ACTUALLY PAID OR REQUIRED TO BE
PAID FOR THE REAL PROPERTY OR INTEREST THEREIN, INCLUDING PAYMENT FOR AN
OPTION OR CONTRACT TO PURCHASE REAL PROPERTY, WHETHER OR NOT EXPRESSED
IN THE DEED AND WHETHER PAID OR REQUIRED TO BE PAID BY MONEY, PROPERTY,
OR ANY OTHER THING OF VALUE. IT SHALL INCLUDE THE CANCELLATION OR
A. 3533 7
DISCHARGE OF AN INDEBTEDNESS OR OBLIGATION. IT SHALL ALSO INCLUDE THE
AMOUNT OF ANY MORTGAGE, PURCHASE MONEY MORTGAGE, LIEN OR OTHER ENCUM-
BRANCE, WHETHER OR NOT THE UNDERLYING INDEBTEDNESS IS ASSUMED OR TAKEN
SUBJECT TO.
(A) IN THE CASE OF A CREATION OF A LEASEHOLD INTEREST OR THE GRANTING
OF AN OPTION WITH USE AND OCCUPANCY OF REAL PROPERTY, CONSIDERATION
SHALL INCLUDE, BUT NOT BE LIMITED TO, THE VALUE OF THE RENTAL AND OTHER
PAYMENTS ATTRIBUTABLE TO THE USE AND OCCUPANCY OF THE REAL PROPERTY OR
INTEREST THEREIN, THE VALUE OF ANY AMOUNT PAID FOR AN OPTION TO PURCHASE
OR RENEW AND THE VALUE OF RENTAL OR OTHER PAYMENTS ATTRIBUTABLE TO THE
EXERCISE OF ANY OPTION TO RENEW.
(B) IN THE CASE OF A CREATION OF A SUBLEASEHOLD INTEREST, CONSIDER-
ATION SHALL INCLUDE, BUT NOT BE LIMITED TO, THE VALUE OF THE SUBLEASE
RENTAL PAYMENTS ATTRIBUTABLE TO THE USE AND OCCUPANCY OF THE REAL PROP-
ERTY, THE VALUE OF ANY AMOUNT PAID FOR AN OPTION TO RENEW AND THE VALUE
OF RENTAL OR OTHER PAYMENTS ATTRIBUTABLE TO THE EXERCISE OF ANY OPTION
TO RENEW LESS THE VALUE OF THE REMAINING PRIME LEASE RENTAL PAYMENTS
REQUIRED TO BE MADE.
(C) IN THE CASE OF A CONTROLLING INTEREST IN ANY ENTITY THAT OWNS REAL
PROPERTY, CONSIDERATION SHALL MEAN THE FAIR MARKET VALUE OF THE REAL
PROPERTY OR INTEREST THEREIN, APPORTIONED BASED ON THE PERCENTAGE OF THE
OWNERSHIP INTEREST TRANSFERRED OR ACQUIRED IN THE ENTITY.
(D) IN THE CASE OF AN ASSIGNMENT OR SURRENDER OF A LEASEHOLD INTEREST
OR THE ASSIGNMENT OR SURRENDER OF AN OPTION OR CONTRACT TO PURCHASE REAL
PROPERTY, CONSIDERATION SHALL NOT INCLUDE THE VALUE OF THE REMAINING
RENTAL PAYMENTS REQUIRED TO BE MADE PURSUANT TO THE TERMS OF SUCH LEASE
OR THE AMOUNT TO BE PAID FOR THE REAL PROPERTY PURSUANT TO THE TERMS OF
THE OPTION OR CONTRACT BEING ASSIGNED OR SURRENDERED.
(E) IN THE CASE OF (1) THE ORIGINAL CONVEYANCE OF SHARES OF STOCK IN A
COOPERATIVE HOUSING CORPORATION IN CONNECTION WITH THE GRANT OR TRANSFER
OF A PROPRIETARY LEASEHOLD BY THE COOPERATIVE CORPORATION OR COOPERATIVE
PLAN SPONSOR, AND (2) THE SUBSEQUENT CONVEYANCE BY THE OWNER THEREOF OF
SUCH STOCK IN A COOPERATIVE HOUSING CORPORATION IN CONNECTION WITH THE
GRANT OR TRANSFER OF A PROPRIETARY LEASEHOLD FOR A COOPERATIVE UNIT
OTHER THAN AN INDIVIDUAL RESIDENTIAL UNIT, CONSIDERATION SHALL INCLUDE A
PROPORTIONATE SHARE OF THE UNPAID PRINCIPAL OF ANY MORTGAGE ON THE REAL
PROPERTY OF THE COOPERATIVE HOUSING CORPORATION COMPRISING THE COOPER-
ATIVE DWELLING OR DWELLINGS. SUCH SHARE SHALL BE DETERMINED BY MULTIPLY-
ING THE TOTAL UNPAID PRINCIPAL OF THE MORTGAGE BY A FRACTION, THE NUMER-
ATOR OF WHICH SHALL BE THE NUMBER OF SHARES OF STOCK BEING CONVEYED IN
THE COOPERATIVE HOUSING CORPORATION IN CONNECTION WITH THE GRANT OR
TRANSFER OF A PROPRIETARY LEASEHOLD AND THE DENOMINATOR OF WHICH SHALL
BE THE TOTAL NUMBER OF SHARES OF STOCK IN THE COOPERATIVE HOUSING CORPO-
RATION.
5. "CONVEYANCE" MEANS THE TRANSFER OR TRANSFERS OF ANY INTEREST IN
REAL PROPERTY BY ANY METHOD, INCLUDING BUT NOT LIMITED TO, SALE,
EXCHANGE, ASSIGNMENT, SURRENDER, MORTGAGE FORECLOSURE, TRANSFER IN LIEU
OF FORECLOSURE, OPTION, TRUST INDENTURE, TAKING BY EMINENT DOMAIN,
CONVEYANCE UPON LIQUIDATION OR BY A RECEIVER, OR TRANSFER OR ACQUISITION
OF A CONTROLLING INTEREST IN ANY ENTITY WITH AN INTEREST IN REAL PROPER-
TY. TRANSFER OF AN INTEREST IN REAL PROPERTY SHALL INCLUDE THE CREATION
OF A LEASEHOLD OR SUBLEASE ONLY WHERE (A) THE SUM OF THE TERM OF THE
LEASE OR SUBLEASE AND ANY OPTIONS FOR RENEWAL EXCEEDS FORTY-NINE YEARS,
(B) SUBSTANTIAL CAPITAL IMPROVEMENTS ARE OR MAY BE MADE BY OR FOR THE
BENEFIT OF THE LESSEE OR SUBLESSEE, AND (C) THE LEASE OR SUBLEASE IS FOR
SUBSTANTIALLY ALL OF THE PREMISES CONSTITUTING THE REAL PROPERTY.
A. 3533 8
NOTWITHSTANDING THE FOREGOING, CONVEYANCE OF REAL PROPERTY SHALL NOT
INCLUDE A CONVEYANCE MADE PURSUANT TO DEVISE, BEQUEST OR INHERITANCE;
THE CREATION, MODIFICATION, EXTENSION, SPREADING, SEVERANCE, CONSOL-
IDATION, ASSIGNMENT, TRANSFER, RELEASE OR SATISFACTION OF A MORTGAGE; A
MORTGAGE SUBORDINATION AGREEMENT, A MORTGAGE SEVERANCE AGREEMENT, AN
INSTRUMENT GIVEN TO PERFECT OR CORRECT A RECORDED MORTGAGE; OR A RELEASE
OF LIEN OF TAX PURSUANT TO THIS CHAPTER OR THE INTERNAL REVENUE CODE.
6. "INTEREST IN THE REAL PROPERTY" INCLUDES TITLE IN FEE, A LEASEHOLD
INTEREST, A BENEFICIAL INTEREST, AN ENCUMBRANCE, DEVELOPMENT RIGHTS, AIR
SPACE AND AIR RIGHTS, OR ANY OTHER INTEREST WITH THE RIGHT TO USE OR
OCCUPANCY OF REAL PROPERTY OR THE RIGHT TO RECEIVE RENTS, PROFITS OR
OTHER INCOME DERIVED FROM REAL PROPERTY. IT SHALL ALSO INCLUDE AN OPTION
OR CONTRACT TO PURCHASE REAL PROPERTY. IT SHALL NOT INCLUDE A RIGHT OF
FIRST REFUSAL TO PURCHASE REAL PROPERTY.
7. "GRANTOR" MEANS THE PERSON MAKING THE CONVEYANCE OF REAL PROPERTY
OR INTEREST THEREIN. WHERE THE CONVEYANCE CONSISTS OF A TRANSFER OR AN
ACQUISITION OF A CONTROLLING INTEREST IN AN ENTITY WITH AN INTEREST IN
REAL PROPERTY, "GRANTOR" MEANS THE ENTITY WITH AN INTEREST IN REAL PROP-
ERTY OR A SHAREHOLDER OR PARTNER TRANSFERRING STOCK OR PARTNERSHIP
INTEREST, RESPECTIVELY.
8. "GRANTEE" MEANS THE PERSON WHO OBTAINS REAL PROPERTY OR INTEREST
THEREIN AS A RESULT OF A CONVEYANCE.
9. "FUND" MEANS A COMMUNITY PRESERVATION FUND CREATED PURSUANT TO
SECTION SIX-W OF THE GENERAL MUNICIPAL LAW.
10. "RECORDING OFFICER" MEANS THE COUNTY CLERK.
11. "CITY OR TOWN" MEANS A CITY OR TOWN, EXCEPT A CITY OF ONE MILLION
OR MORE.
12. "TREASURER" MEANS THE COUNTY TREASURER.
§ 1576. IMPOSITION OF TAX. 1. NOTWITHSTANDING ANY OTHER PROVISIONS OF
LAW TO THE CONTRARY, ANY CITY OR TOWN, ACTING THROUGH ITS LOCAL GOVERN-
ING BODY, IS HEREBY AUTHORIZED AND EMPOWERED TO ADOPT A LOCAL LAW IMPOS-
ING IN SUCH CITY OR TOWN A TAX ON EACH CONVEYANCE OF REAL PROPERTY OR
INTEREST THEREIN WHERE THE CONSIDERATION EXCEEDS FIVE HUNDRED DOLLARS,
AT A RATE OF UP TO TWO PERCENT OF THE CONSIDERATION FOR SUCH CONVEYANCE.
PROVIDED, HOWEVER, ANY SUCH LOCAL LAW IMPOSING, REPEALING OR REIMPOSING
SUCH TAX SHALL BE SUBJECT TO A MANDATORY REFERENDUM PURSUANT TO SECTION
TWENTY-THREE OF THE MUNICIPAL HOME RULE LAW. SUCH LOCAL LAW SHALL ONLY
BE SUBMITTED FOR THE APPROVAL OF THE ELECTORS AT A GENERAL ELECTION.
NOTWITHSTANDING THE FOREGOING, PRIOR TO ADOPTION OF SUCH LOCAL LAW, THE
CITY OR TOWN MUST ESTABLISH A COMMUNITY PRESERVATION FUND PURSUANT TO
SECTION SIX-W OF THE GENERAL MUNICIPAL LAW. REVENUES FROM SUCH TAX SHALL
BE DEPOSITED IN SUCH FUND AND MAY BE USED SOLELY FOR THE PURPOSES OF
SUCH FUND. SUCH LOCAL LAW SHALL APPLY TO ANY CONVEYANCE OCCURRING ON OR
AFTER THE FIRST DAY OF A MONTH TO BE DESIGNATED BY SUCH LOCAL GOVERNING
BODY, WHICH IS NOT LESS THAN SIXTY DAYS AFTER THE ENACTMENT OF SUCH
LOCAL LAW, BUT SHALL NOT APPLY TO CONVEYANCES MADE ON OR AFTER SUCH DATE
PURSUANT TO BINDING WRITTEN CONTRACTS ENTERED INTO PRIOR TO SUCH DATE,
PROVIDED THAT THE DATE OF EXECUTION OF SUCH CONTRACT IS CONFIRMED BY
INDEPENDENT EVIDENCE SUCH AS THE RECORDING OF THE CONTRACT, PAYMENT OF A
DEPOSIT OR OTHER FACTS AND CIRCUMSTANCES AS DETERMINED BY THE TREASURER.
2. NOTWITHSTANDING ANY OTHER PROVISIONS OF LAW TO THE CONTRARY, IN
ADDITION TO THE TAX AUTHORIZED BY SUBDIVISION ONE OF THIS SECTION, ANY
CITY OR TOWN, ACTING THROUGH ITS GOVERNING BODY, IS HEREBY AUTHORIZED
AND EMPOWERED TO ADOPT A LOCAL LAW IMPOSING IN SUCH CITY OR TOWN A
SUPPLEMENTAL TAX ON EACH CONVEYANCE OF REAL PROPERTY OR INTEREST THEREIN
WHERE THE CONSIDERATION EXCEEDS FIVE HUNDRED DOLLARS, AT THE RATE OF UP
A. 3533 9
TO ONE HALF OF ONE PERCENT OF THE CONSIDERATION FOR SUCH CONVEYANCE.
PROVIDED, HOWEVER, ANY SUCH LOCAL LAW IMPOSING, REPEALING OR REIMPOSING
SUCH SUPPLEMENTAL TAX SHALL BE SUBJECT TO A MANDATORY REFERENDUM PURSU-
ANT TO SECTION TWENTY-THREE OF THE MUNICIPAL HOME RULE LAW. REVENUES
FROM SUCH SUPPLEMENTAL TAX SHALL BE DEPOSITED IN SUCH COMMUNITY HOUSING
FUND AND MAY BE USED SOLELY FOR THE PURPOSES OF SUCH COMMUNITY HOUSING
FUND. SUCH LOCAL LAW SHALL APPLY TO ANY CONVEYANCE OCCURRING ON OR AFTER
THE FIRST DAY OF A MONTH TO BE DESIGNATED BY THE GOVERNING BOARD, WHICH
IS NOT LESS THAN SIXTY DAYS AFTER THE ENACTMENT OF SUCH LOCAL LAW, BUT
SHALL NOT APPLY TO CONVEYANCES MADE ON OR AFTER SUCH DATE PURSUANT TO
BINDING WRITTEN CONTRACTS ENTERED INTO PRIOR TO SUCH DATE, PROVIDED THAT
THE DATE OF EXECUTION OF SUCH CONTRACT IS CONFIRMED BY INDEPENDENT
EVIDENCE SUCH AS THE RECORDING OF THE CONTRACT, PAYMENT OF A DEPOSIT OR
OTHER FACTS AND CIRCUMSTANCES AS DETERMINED BY THE TREASURER. ANY TAX
IMPOSED PURSUANT TO THIS SUBDIVISION SHALL BE ADMINISTERED AND COLLECTED
IN A LIKE MANNER AS THE TAX IMPOSED BY SUBDIVISION ONE OF THIS SECTION.
§ 1577. PAYMENT OF TAX. 1. THE REAL ESTATE TRANSFER TAX IMPOSED PURSU-
ANT TO THIS ARTICLE SHALL BE PAID TO THE TREASURER OR THE RECORDING
OFFICER ACTING AS THE AGENT OF THE TREASURER UPON DESIGNATION AS SUCH
AGENT BY THE TREASURER. SUCH TAX SHALL BE PAID AT THE SAME TIME AS THE
REAL ESTATE TRANSFER TAX IMPOSED BY ARTICLE THIRTY-ONE OF THIS CHAPTER
IS REQUIRED TO BE PAID. SUCH TREASURER OR RECORDING OFFICER SHALL
ENDORSE UPON EACH DEED OR INSTRUMENT EFFECTING A CONVEYANCE A RECEIPT
FOR THE AMOUNT OF THE TAX SO PAID.
2. A RETURN SHALL BE REQUIRED TO BE FILED WITH SUCH TREASURER OR
RECORDING OFFICER FOR PURPOSES OF THE REAL ESTATE TRANSFER TAX IMPOSED
PURSUANT TO THIS ARTICLE AT THE SAME TIME AS A RETURN IS REQUIRED TO BE
FILED FOR PURPOSES OF THE REAL ESTATE TRANSFER TAX IMPOSED BY ARTICLE
THIRTY-ONE OF THIS CHAPTER. THE TREASURER SHALL PRESCRIBE THE FORM OF
RETURN, THE INFORMATION WHICH IT SHALL CONTAIN, AND THE DOCUMENTATION
THAT SHALL ACCOMPANY THE RETURN. SAID FORM SHALL BE IDENTICAL TO THE
REAL ESTATE TRANSFER TAX RETURN REQUIRED TO BE FILED PURSUANT TO SECTION
FOURTEEN HUNDRED NINE OF THIS CHAPTER, EXCEPT THAT THE TREASURER SHALL
ADAPT SAID FORM TO REFLECT THE PROVISIONS IN THIS CHAPTER THAT ARE
INCONSISTENT, DIFFERENT, OR IN ADDITION TO THE PROVISIONS OF ARTICLE
THIRTY-ONE OF THIS CHAPTER. THE REAL ESTATE TRANSFER TAX RETURNS
REQUIRED TO BE FILED PURSUANT TO THIS SECTION SHALL BE PRESERVED FOR
THREE YEARS AND THEREAFTER UNTIL SUCH TREASURER OR RECORDING OFFICER
ORDERS THEM TO BE DESTROYED.
3. THE RECORDING OFFICER SHALL NOT RECORD AN INSTRUMENT EFFECTING A
CONVEYANCE UNLESS THE RETURN REQUIRED BY THIS SECTION HAS BEEN FILED AND
THE TAX IMPOSED PURSUANT TO THIS ARTICLE SHALL HAVE BEEN PAID AS
REQUIRED IN THIS SECTION.
§ 1578. LIABILITY FOR TAX. 1. THE REAL ESTATE TRANSFER TAX SHALL BE
PAID BY THE GRANTEE. IF THE GRANTEE HAS FAILED TO PAY THE TAX IMPOSED
PURSUANT TO THIS ARTICLE OR IF THE GRANTEE IS EXEMPT FROM SUCH TAX, THE
GRANTOR SHALL HAVE THE DUTY TO PAY THE TAX. WHERE THE GRANTOR HAS THE
DUTY TO PAY THE TAX BECAUSE THE GRANTEE HAS FAILED TO PAY THE TAX, SUCH
TAX SHALL BE THE JOINT AND SEVERAL LIABILITY OF THE GRANTEE AND THE
GRANTOR.
2. FOR THE PURPOSE OF THE PROPER ADMINISTRATION OF THIS ARTICLE AND TO
PREVENT EVASION OF THE TAX HEREBY IMPOSED, IT SHALL BE PRESUMED THAT ALL
CONVEYANCES ARE TAXABLE. WHERE THE CONSIDERATION INCLUDES PROPERTY OTHER
THAN MONEY, IT SHALL BE PRESUMED THAT THE CONSIDERATION IS THE FAIR
MARKET VALUE OF THE REAL PROPERTY OR INTEREST THEREIN. THESE PRESUMP-
TIONS SHALL PREVAIL UNTIL THE CONTRARY IS PROVEN, AND THE BURDEN OF
A. 3533 10
PROVING THE CONTRARY SHALL BE ON THE PERSON LIABLE FOR PAYMENT OF THE
TAX.
§ 1579. EXEMPTIONS. 1. THE FOLLOWING SHALL BE EXEMPT FROM THE PAYMENT
OF THE REAL ESTATE TRANSFER TAX: (A) THE STATE OF NEW YORK, OR ANY OF
ITS AGENCIES, INSTRUMENTALITIES, POLITICAL SUBDIVISIONS, OR PUBLIC
CORPORATIONS (INCLUDING A PUBLIC CORPORATION CREATED PURSUANT TO AN
AGREEMENT OR COMPACT WITH ANOTHER STATE OR THE DOMINION OF CANADA); AND
(B) THE UNITED NATIONS, THE UNITED STATES OF AMERICA OR ANY OF ITS
AGENCIES OR INSTRUMENTALITIES.
2. THE TAX SHALL NOT APPLY TO ANY OF THE FOLLOWING CONVEYANCES: (A)
CONVEYANCES TO THE UNITED NATIONS, THE UNITED STATES OF AMERICA, THE
STATE OF NEW YORK, OR ANY OF THEIR INSTRUMENTALITIES, AGENCIES OR POLI-
TICAL SUBDIVISIONS (OR ANY PUBLIC CORPORATION, INCLUDING A PUBLIC CORPO-
RATION CREATED PURSUANT TO AGREEMENT OR COMPACT WITH ANOTHER STATE OR
THE DOMINION OF CANADA); (B) CONVEYANCES WHICH ARE OR WERE USED TO
SECURE A DEBT OR OTHER OBLIGATION; (C) CONVEYANCES WHICH, WITHOUT ADDI-
TIONAL CONSIDERATION, CONFIRM, CORRECT, MODIFY OR SUPPLEMENT A DEED
PREVIOUSLY RECORDED; (D) CONVEYANCES OF REAL PROPERTY WITHOUT CONSIDER-
ATION AND OTHERWISE THAN IN CONNECTION WITH A SALE, INCLUDING DEEDS
CONVEYING REALTY AS BONA FIDE GIFTS; (E) CONVEYANCES GIVEN IN CONNECTION
WITH A TAX SALE; (F) CONVEYANCES TO EFFECTUATE A MERE CHANGE OF IDENTITY
OR FORM OF OWNERSHIP OR ORGANIZATION WHERE THERE IS NO CHANGE IN BENEFI-
CIAL OWNERSHIP, OTHER THAN CONVEYANCES TO A COOPERATIVE HOUSING CORPO-
RATION OF THE REAL PROPERTY COMPRISING THE COOPERATIVE DWELLING OR
DWELLINGS; (G) CONVEYANCES WHICH CONSIST OF A DEED OF PARTITION; (H)
CONVEYANCES GIVEN PURSUANT TO THE FEDERAL BANKRUPTCY ACT; (I) CONVEYANC-
ES OF REAL PROPERTY WHICH CONSIST OF THE EXECUTION OF A CONTRACT TO SELL
REAL PROPERTY WITHOUT THE USE OR OCCUPANCY OF SUCH PROPERTY OR THE
GRANTING OF AN OPTION TO PURCHASE REAL PROPERTY WITHOUT THE USE OR OCCU-
PANCY OF SUCH PROPERTY; (J) CONVEYANCES OF REAL PROPERTY, WHERE THE
ENTIRE PARCEL OF REAL PROPERTY TO BE CONVEYED IS THE SUBJECT OF ONE OR
MORE OF THE FOLLOWING DEVELOPMENT RESTRICTIONS: (1) AGRICULTURAL,
CONSERVATION, SCENIC, OR AN OPEN SPACE EASEMENT, (2) COVENANTS OR
RESTRICTIONS PROHIBITING DEVELOPMENT, (3) A PURCHASE OF DEVELOPMENT
RIGHTS AGREEMENT, (4) A TRANSFER OF DEVELOPMENT RIGHTS AGREEMENT, WHERE
THE PROPERTY BEING CONVEYED HAS HAD ITS DEVELOPMENT RIGHTS REMOVED, (5)
SAID REAL PROPERTY IS SUBJECT TO THE DEVELOPMENT RESTRICTION OF AN AGRI-
CULTURAL DISTRICT OR INDIVIDUAL COMMITMENT, PURSUANT TO ARTICLE TWENTY-
FIVE-AA OF THE AGRICULTURE AND MARKETS LAW, (6) REAL PROPERTY SUBJECT TO
ANY LOCALLY ADOPTED LAND PRESERVATION AGREEMENT, PROVIDED SAID EXEMPTION
IS INCLUDED IN THE LOCAL LAW IMPOSING THE TAX AUTHORIZED BY THIS ARTI-
CLE; (K) CONVEYANCES OF REAL PROPERTY, WHERE THE PROPERTY IS VIABLE
AGRICULTURAL LAND AS DEFINED IN SUBDIVISION SEVEN OF SECTION THREE
HUNDRED ONE OF THE AGRICULTURE AND MARKETS LAW AND THE ENTIRE PROPERTY
TO BE CONVEYED IS TO BE MADE SUBJECT TO ONE OF THE DEVELOPMENT
RESTRICTIONS PROVIDED FOR IN SUBPARAGRAPH TWO OF PARAGRAPH (J) OF THIS
SUBDIVISION PROVIDED THAT SAID DEVELOPMENT RESTRICTION PRECLUDES THE
CONVERSION OF THE PROPERTY TO A NON-AGRICULTURAL USE FOR AT LEAST THREE
YEARS FROM THE DATE OF TRANSFER, AND SAID DEVELOPMENT RESTRICTION IS
EVIDENCED BY AN EASEMENT, AGREEMENT, OR OTHER SUITABLE INSTRUMENT WHICH
IS TO BE CONVEYED TO THE CITY OR TOWN SIMULTANEOUSLY WITH THE CONVEYANCE
OF THE REAL PROPERTY; OR (L) CONVEYANCES OF REAL PROPERTY FOR OPEN
SPACE, PARKS, COMMUNITY HOUSING, OR HISTORIC PRESERVATION PURPOSES TO
ANY NOT-FOR-PROFIT TAX EXEMPT CORPORATION OPERATED FOR CONSERVATION,
ENVIRONMENTAL, COMMUNITY HOUSING OR HISTORIC PRESERVATION PURPOSES.
A. 3533 11
3. THE GOVERNING BODY OF A CITY OR TOWN, BY LOCAL LAW MAY ESTABLISH A
COMMUNITY HOUSING EXEMPTION. SUCH EXEMPTION MAY NOT EXCEED AN AMOUNT
EQUAL TO THE RESIDENTIAL MEDIAN SALE PRICE OF THE COUNTY IN WHICH THE
CITY OR TOWN IS LOCATED, AS DETERMINED BY THE OFFICE OF REAL PROPERTY
SERVICES WITHIN THE DEPARTMENT OF TAXATION AND FINANCE. SUCH EXEMPTION
SHALL BE ALLOWED ON THE CONSIDERATION OF THE CONVEYANCE OF IMPROVED REAL
PROPERTY OR AN INTEREST THEREIN. THE EXEMPTION GRANTED PURSUANT TO THE
PROVISIONS OF THIS SUBDIVISION SHALL ONLY APPLY TO CONVEYANCES FOR RESI-
DENTIAL PROPERTY WHERE THE CONSIDERATION IS TWO MILLION DOLLARS OR LESS.
§ 1580. CREDIT. A GRANTEE SHALL BE ALLOWED A CREDIT AGAINST THE TAX
DUE ON A CONVEYANCE OF REAL PROPERTY TO THE EXTENT TAX WAS PAID BY SUCH
GRANTEE ON A PRIOR CREATION OF A LEASEHOLD OF ALL OR A PORTION OF THE
SAME REAL PROPERTY OR ON THE GRANTING OF AN OPTION OR CONTRACT TO
PURCHASE ALL OR A PORTION OF THE SAME REAL PROPERTY BY SUCH GRANTEE.
SUCH CREDIT SHALL BE COMPUTED BY MULTIPLYING THE TAX PAID ON THE
CREATION OF THE LEASEHOLD OR ON THE GRANTING OF THE OPTION OR CONTRACT
BY A FRACTION, THE NUMERATOR OF WHICH IS THE VALUE OF THE CONSIDERATION
USED TO COMPUTE SUCH TAX PAID WHICH IS NOT YET DUE TO SUCH GRANTOR ON
THE DATE OF THE SUBSEQUENT CONVEYANCE (AND WHICH SUCH GRANTOR WILL NOT
BE ENTITLED TO RECEIVE AFTER SUCH DATE), AND THE DENOMINATOR OF WHICH IS
THE TOTAL VALUE OF THE CONSIDERATION USED TO COMPUTE SUCH TAX PAID.
§ 1581. COOPERATIVE HOUSING CORPORATION TRANSFERS. 1. NOTWITHSTANDING
THE DEFINITION OF "CONTROLLING INTEREST" CONTAINED IN SUBDIVISION TWO OF
SECTION FIFTEEN HUNDRED SEVENTY-FIVE OF THIS ARTICLE OR ANYTHING TO THE
CONTRARY CONTAINED IN SUBDIVISION FIVE OF SECTION FIFTEEN HUNDRED SEVEN-
TY-FIVE OF THIS ARTICLE, THE TAX IMPOSED PURSUANT TO THIS ARTICLE SHALL
APPLY TO (A) THE ORIGINAL CONVEYANCE OF SHARES OF STOCK IN A COOPERATIVE
HOUSING CORPORATION IN CONNECTION WITH THE GRANT OR TRANSFER OF A
PROPRIETARY LEASEHOLD BY THE COOPERATIVE CORPORATION OR COOPERATIVE PLAN
SPONSOR, AND (B) THE SUBSEQUENT CONVEYANCE OF SUCH STOCK IN A COOPER-
ATIVE HOUSING CORPORATION IN CONNECTION WITH THE GRANT OR TRANSFER OF A
PROPRIETARY LEASEHOLD BY THE OWNER THEREOF. WITH RESPECT TO ANY SUCH
SUBSEQUENT CONVEYANCE WHERE THE PROPERTY IS AN INDIVIDUAL RESIDENTIAL
UNIT, THE CONSIDERATION FOR THE INTEREST CONVEYED SHALL EXCLUDE THE
VALUE OF ANY LIENS ON CERTIFICATES OF STOCK OR OTHER EVIDENCES OF AN
OWNERSHIP INTEREST IN AND A PROPRIETARY LEASE FROM A CORPORATION OR
PARTNERSHIP FORMED FOR THE PURPOSE OF COOPERATIVE OWNERSHIP OF RESIDEN-
TIAL INTEREST IN REAL ESTATE REMAINING THEREON AT THE TIME OF CONVEY-
ANCE. IN DETERMINING THE TAX ON A CONVEYANCE DESCRIBED IN PARAGRAPH (A)
OF THIS SUBDIVISION, A CREDIT SHALL BE ALLOWED FOR A PROPORTIONATE PART
OF THE AMOUNT OF ANY TAX PAID UPON THE CONVEYANCE TO THE COOPERATIVE
HOUSING CORPORATION OF THE REAL PROPERTY COMPRISING THE COOPERATIVE
DWELLING OR DWELLINGS TO THE EXTENT THAT SUCH CONVEYANCE EFFECTUATED A
MERE CHANGE OF IDENTITY OR FORM OF OWNERSHIP OF SUCH PROPERTY AND NOT A
CHANGE IN THE BENEFICIAL OWNERSHIP OF SUCH PROPERTY. THE AMOUNT OF THE
CREDIT SHALL BE DETERMINED BY MULTIPLYING THE AMOUNT OF TAX PAID UPON
THE CONVEYANCE TO THE COOPERATIVE HOUSING CORPORATION BY A PERCENTAGE
REPRESENTING THE EXTENT TO WHICH SUCH CONVEYANCE EFFECTUATED A MERE
CHANGE OF IDENTITY OR FORM OF OWNERSHIP AND NOT A CHANGE IN THE BENEFI-
CIAL OWNERSHIP OF SUCH PROPERTY, AND THEN MULTIPLYING THE RESULTING
PRODUCT BY A FRACTION, THE NUMERATOR OF WHICH SHALL BE THE NUMBER OF
SHARES OF STOCK CONVEYED IN A TRANSACTION DESCRIBED IN PARAGRAPH (A) OF
THIS SUBDIVISION, AND THE DENOMINATOR OF WHICH SHALL BE THE TOTAL NUMBER
OF SHARES OF STOCK OF THE COOPERATIVE HOUSING CORPORATION (INCLUDING ANY
STOCK HELD BY THE CORPORATION). IN NO EVENT, HOWEVER, SHALL SUCH CREDIT
REDUCE THE TAX, ON A CONVEYANCE DESCRIBED IN PARAGRAPH (A) OF THIS
A. 3533 12
SUBDIVISION, BELOW ZERO, NOR SHALL ANY SUCH CREDIT BE ALLOWED FOR A TAX
PAID MORE THAN TWENTY-FOUR MONTHS PRIOR TO THE DATE ON WHICH OCCURS THE
FIRST IN A SERIES OF CONVEYANCES OF SHARES OF STOCK IN AN OFFERING OF
COOPERATIVE HOUSING CORPORATION SHARES DESCRIBED IN PARAGRAPH (A) OF
THIS SUBDIVISION.
2. EVERY COOPERATIVE HOUSING CORPORATION SHALL BE REQUIRED TO FILE AN
INFORMATION RETURN WITH THE TREASURER BY JULY FIFTEENTH OF EACH YEAR
COVERING THE PRECEDING PERIOD OF JANUARY FIRST THROUGH JUNE THIRTIETH
AND BY JANUARY FIFTEENTH OF EACH YEAR COVERING THE PRECEDING PERIOD OF
JULY FIRST THROUGH DECEMBER THIRTY-FIRST. THE RETURN SHALL CONTAIN SUCH
INFORMATION REGARDING THE CONVEYANCE OF SHARES OF STOCK IN THE COOPER-
ATIVE HOUSING CORPORATION AS THE TREASURER MAY DEEM NECESSARY, INCLUD-
ING, BUT NOT LIMITED TO, THE NAMES, ADDRESSES AND EMPLOYEE IDENTIFICA-
TION NUMBERS OR SOCIAL SECURITY NUMBERS OF THE GRANTOR AND THE GRANTEE,
THE NUMBER OF SHARES CONVEYED, THE DATE OF THE CONVEYANCE AND THE
CONSIDERATION PAID FOR SUCH CONVEYANCE.
§ 1582. DESIGNATION OF AGENTS. THE TREASURER IS AUTHORIZED TO DESIG-
NATE THE RECORDING OFFICER TO ACT AS SUCH TREASURER'S AGENT FOR PURPOSES
OF COLLECTING THE TAX AUTHORIZED BY THIS ARTICLE. THE TREASURER SHALL
PROVIDE FOR THE MANNER IN WHICH SUCH PERSON MAY BE DESIGNATED AS THEIR
AGENT SUBJECT TO SUCH TERMS AND CONDITIONS AS THE TREASURER SHALL
PRESCRIBE. THE REAL ESTATE TRANSFER TAX SHALL BE PAID TO SUCH AGENT AS
PROVIDED IN SECTION FIFTEEN HUNDRED SEVENTY-SEVEN OF THIS ARTICLE.
§ 1583. LIABILITY OF RECORDING OFFICER. A RECORDING OFFICER SHALL NOT
BE LIABLE FOR ANY INACCURACY IN THE AMOUNT OF TAX IMPOSED PURSUANT TO
THIS ARTICLE THAT THEY SHALL COLLECT SO LONG AS THEY SHALL COMPUTE AND
COLLECT SUCH TAX ON THE AMOUNT OF CONSIDERATION OR THE VALUE OF THE
INTEREST CONVEYED AS SUCH AMOUNTS ARE PROVIDED TO THEM BY THE PERSON
PAYING THE TAX.
§ 1584. DEPOSIT AND DISPOSITION OF REVENUE. 1. ALL TAXES, PENALTIES
AND INTEREST IMPOSED BY THE CITY OR TOWN UNDER THE AUTHORITY OF SECTION
FIFTEEN HUNDRED SEVENTY-SIX OF THIS ARTICLE, WHICH ARE COLLECTED BY THE
TREASURER OR SUCH TREASURER'S AGENTS, SHALL BE DEPOSITED IN TRUST FUNDS
AS PROVIDED BY THIS SECTION FOR THE CITY OR TOWN AND SHALL BE KEPT IN
TRUST AND SEPARATE AND APART FROM ALL OTHER MONIES IN POSSESSION OF THE
TREASURER. THE TREASURER OR SUCH TREASURER'S AGENTS SHALL PROVIDE FOR
SEPARATE TRUST FUNDS FOR COMMUNITY PRESERVATION AND COMMUNITY HOUSING
REVENUES. MONEYS IN SUCH FUND SHALL BE DEPOSITED AND SECURED IN THE
MANNER PROVIDED BY SECTION TEN OF THE GENERAL MUNICIPAL LAW. PENDING
EXPENDITURE FROM SUCH FUND, MONEYS THEREIN MAY BE INVESTED IN THE MANNER
PROVIDED IN SECTION ELEVEN OF THE GENERAL MUNICIPAL LAW. ANY INTEREST
EARNED OR CAPITAL GAIN REALIZED ON THE MONEYS SO DEPOSITED OR INVESTED
SHALL ACCRUE TO AND BECOME PART OF SUCH FUND.
2. THE TREASURER SHALL RETAIN SUCH AMOUNT AS THEY MAY DETERMINE TO BE
NECESSARY FOR REFUNDS WITH RESPECT TO THE TAX IMPOSED BY THE CITY OR
TOWN, UNDER THE AUTHORITY OF SECTION FIFTEEN HUNDRED SEVENTY-SIX OF THIS
ARTICLE, OUT OF WHICH THE TREASURER SHALL PAY ANY REFUNDS OF SUCH TAXES
TO THOSE TAXPAYERS ENTITLED TO A REFUND PURSUANT TO THE PROVISIONS OF
THIS ARTICLE.
3. THE TREASURER, AFTER RESERVING SUCH REFUNDS, SHALL ON OR BEFORE THE
TWELFTH DAY OF EACH MONTH PAY TO THE CITY COMPTROLLER OR THE TOWN SUPER-
VISOR THE TAXES, PENALTIES AND INTEREST IMPOSED BY THE TOWN UNDER THE
AUTHORITY OF SECTION FIFTEEN HUNDRED SEVENTY-SIX OF THIS ARTICLE,
COLLECTED BY THE TREASURER, PURSUANT TO THIS ARTICLE DURING THE NEXT
PRECEDING CALENDAR MONTH. THE AMOUNT SO PAYABLE SHALL BE CERTIFIED TO
THE CITY COMPTROLLER OR THE TOWN SUPERVISOR BY THE TREASURER, WHO SHALL
A. 3533 13
NOT BE HELD LIABLE FOR ANY INACCURACY IN SUCH CERTIFICATION. PROVIDED,
HOWEVER, ANY SUCH CERTIFICATION MAY BE BASED ON SUCH INFORMATION AS MAY
BE AVAILABLE TO THE TREASURER AT THE TIME SUCH CERTIFICATION MUST BE
MADE UNDER THIS SECTION. WHERE THE AMOUNT SO PAID OVER TO THE CITY OR
TOWN IN ANY SUCH DISTRIBUTION IS MORE OR LESS THAN THE AMOUNT DUE TO THE
CITY OR TOWN, THE AMOUNT OF THE OVERPAYMENT OR UNDERPAYMENT SHALL BE
CERTIFIED TO THE CITY COMPTROLLER OR THE TOWN SUPERVISOR BY THE TREASUR-
ER, WHO SHALL NOT BE HELD LIABLE FOR ANY INACCURACY IN SUCH CERTIF-
ICATION. THE AMOUNT OF THE OVERPAYMENT OR UNDERPAYMENT SHALL BE SO
CERTIFIED TO THE CITY COMPTROLLER OR THE TOWN SUPERVISOR AS SOON AFTER
THE DISCOVERY OF THE OVERPAYMENT OR UNDERPAYMENT AS REASONABLY POSSIBLE
AND SUBSEQUENT PAYMENTS AND DISTRIBUTIONS BY THE TREASURER TO SUCH CITY
OR TOWN SHALL BE ADJUSTED BY SUBTRACTING THE AMOUNT OF ANY SUCH OVERPAY-
MENT FROM OR BY ADDING THE AMOUNT OF ANY SUCH UNDERPAYMENT TO SUCH
NUMBER OF SUBSEQUENT PAYMENTS AND DISTRIBUTIONS AS THE TREASURER AND
CITY COMPTROLLER OR TOWN SUPERVISOR SHALL CONSIDER REASONABLE IN VIEW OF
THE OVERPAYMENT OR UNDERPAYMENT AND ALL OTHER FACTS AND CIRCUMSTANCES.
4. ALL MONIES RECEIVED FROM THE TREASURER SHALL BE DEPOSITED IN THE
APPROPRIATE FUND OF THE CITY OR TOWN, PURSUANT TO SECTION SIX-W OF THE
GENERAL MUNICIPAL LAW.
§ 1585. JUDICIAL REVIEW. 1. ANY FINAL DETERMINATION OF THE AMOUNT OF
ANY TAX PAYABLE UNDER SECTION FIFTEEN HUNDRED SEVENTY-EIGHT OF THIS
ARTICLE SHALL BE REVIEWABLE FOR ERROR, ILLEGALITY OR UNCONSTITUTIONALITY
OR ANY OTHER REASON WHATSOEVER BY A PROCEEDING UNDER ARTICLE SEVENTY-
EIGHT OF THE CIVIL PRACTICE LAW AND RULES IF APPLICATION THEREFOR IS
MADE TO THE SUPREME COURT WITHIN FOUR MONTHS AFTER THE GIVING OF THE
NOTICE OF SUCH FINAL DETERMINATION, PROVIDED, HOWEVER, THAT ANY SUCH
PROCEEDING UNDER ARTICLE SEVENTY-EIGHT OF THE CIVIL PRACTICE LAW AND
RULES SHALL NOT BE INSTITUTED UNLESS (A) THE AMOUNT OF ANY TAX SOUGHT TO
BE REVIEWED, WITH SUCH INTEREST AND PENALTIES THEREON AS MAY BE PROVIDED
FOR BY LOCAL LAW SHALL BE FIRST DEPOSITED AND THERE IS FILED AN UNDER-
TAKING, ISSUED BY A SURETY COMPANY AUTHORIZED TO TRANSACT BUSINESS IN
THIS STATE AND APPROVED BY THE STATE SUPERINTENDENT OF INSURANCE AS TO
SOLVENCY AND RESPONSIBILITY, IN SUCH AMOUNT AS A JUSTICE OF THE SUPREME
COURT SHALL APPROVE TO THE EFFECT THAT IF SUCH PROCEEDING BE DISMISSED
OR THE TAX CONFIRMED THE PETITIONER WILL PAY ALL COSTS AND CHARGES WHICH
MAY ACCRUE IN THE PROSECUTION OF SUCH PROCEEDING OR (B) AT THE OPTION OF
THE PETITIONER, SUCH UNDERTAKING MAY BE IN A SUM SUFFICIENT TO COVER THE
TAXES, INTEREST AND PENALTIES STATED IN SUCH DETERMINATION, PLUS THE
COSTS AND CHARGES WHICH MAY ACCRUE AGAINST IT IN THE PROSECUTION OF THE
PROCEEDING, IN WHICH EVENT THE PETITIONER SHALL NOT BE REQUIRED TO PAY
SUCH TAXES, INTEREST OR PENALTIES AS A CONDITION PRECEDENT TO THE APPLI-
CATION.
2. WHERE ANY TAX IMPOSED HEREUNDER SHALL HAVE BEEN ERRONEOUSLY, ILLE-
GALLY OR UNCONSTITUTIONALLY ASSESSED OR COLLECTED AND APPLICATION FOR
THE REFUND OR REVISION THEREOF DULY MADE TO THE PROPER FISCAL OFFICER OR
OFFICERS, AND SUCH OFFICER OR OFFICERS SHALL HAVE MADE A DETERMINATION
DENYING SUCH REFUND OR REVISION, SUCH DETERMINATION SHALL BE REVIEWABLE
BY A PROCEEDING UNDER ARTICLE SEVENTY-EIGHT OF THE CIVIL PRACTICE LAW
AND RULES; PROVIDED, HOWEVER, THAT (A) SUCH PROCEEDING IS INSTITUTED
WITHIN FOUR MONTHS AFTER THE GIVING OF THE NOTICE OF SUCH DENIAL, (B) A
FINAL DETERMINATION OF TAX DUE WAS NOT PREVIOUSLY MADE, AND (C) AN
UNDERTAKING IS FILED WITH THE PROPER FISCAL OFFICER OR OFFICERS IN SUCH
AMOUNT AND WITH SUCH SURETIES AS A JUSTICE OF THE SUPREME COURT SHALL
APPROVE TO THE EFFECT THAT IF SUCH PROCEEDING BE DISMISSED OR THE TAX
A. 3533 14
CONFIRMED, THE PETITIONER WILL PAY ALL COSTS AND CHARGES WHICH MAY
ACCRUE IN THE PROSECUTION OF SUCH PROCEEDING.
§ 1586. APPORTIONMENT. A LOCAL LAW ADOPTED BY ANY CITY OR TOWN, PURSU-
ANT TO THIS ARTICLE, SHALL PROVIDE FOR A METHOD OF APPORTIONMENT FOR
DETERMINING THE AMOUNT OF TAX DUE WHENEVER THE REAL PROPERTY OR INTEREST
THEREIN IS SITUATED WITHIN AND WITHOUT THE CITY OR TOWN.
§ 1587. MISCELLANEOUS. A LOCAL LAW ADOPTED BY ANY CITY OR TOWN, PURSU-
ANT TO THIS ARTICLE, MAY CONTAIN SUCH OTHER PROVISIONS AS THE CITY OR
TOWN DEEMS NECESSARY FOR THE PROPER ADMINISTRATION OF THE TAX IMPOSED
PURSUANT TO THIS ARTICLE, INCLUDING PROVISIONS CONCERNING THE DETERMI-
NATION OF TAX, THE IMPOSITION OF INTEREST ON UNDERPAYMENTS AND OVERPAY-
MENTS AND THE IMPOSITION OF CIVIL PENALTIES. SUCH PROVISIONS SHALL BE
IDENTICAL TO THE CORRESPONDING PROVISIONS OF THE REAL ESTATE TRANSFER
TAX IMPOSED BY ARTICLE THIRTY-ONE OF THIS CHAPTER, SO FAR AS SUCH
PROVISIONS CAN BE MADE APPLICABLE TO THE TAX IMPOSED PURSUANT TO THIS
ARTICLE.
§ 1588. RETURNS TO BE SECRET. 1. EXCEPT IN ACCORDANCE WITH PROPER
JUDICIAL ORDER OR AS OTHERWISE PROVIDED BY LAW, IT SHALL BE UNLAWFUL FOR
THE TREASURER OR ANY OFFICER OR EMPLOYEE OF THE COUNTY, CITY OR TOWN,
INCLUDING ANY PERSON ENGAGED OR RETAINED ON AN INDEPENDENT CONTRACT
BASIS, TO DIVULGE OR MAKE KNOWN IN ANY MANNER THE PARTICULARS SET FORTH
OR DISCLOSED IN ANY RETURN REQUIRED UNDER A LOCAL LAW ENACTED PURSUANT
TO THIS ARTICLE. PROVIDED, HOWEVER, THAT NOTHING IN THIS SECTION SHALL
PROHIBIT THE RECORDING OFFICER FROM MAKING A NOTATION ON AN INSTRUMENT
AFFECTING A CONVEYANCE INDICATING THE AMOUNT OF TAX PAID. NO RECORDED
INSTRUMENT AFFECTING A CONVEYANCE SHALL BE CONSIDERED A RETURN FOR
PURPOSES OF THIS SECTION.
2. THE OFFICERS CHARGED WITH THE CUSTODY OF SUCH RETURNS SHALL NOT BE
REQUIRED TO PRODUCE ANY OF THEM OR EVIDENCE OF ANYTHING CONTAINED IN
THEM IN ANY ACTION OR PROCEEDING IN ANY COURT, EXCEPT ON BEHALF OF THE
COUNTY, CITY, OR TOWN IN ANY ACTION OR PROCEEDING INVOLVING THE
COLLECTION OF A TAX DUE UNDER A LOCAL LAW ENACTED PURSUANT TO THIS ARTI-
CLE TO WHICH SUCH COUNTY, CITY, OR TOWN IS A PARTY, OR A CLAIMANT, OR ON
BEHALF OF ANY PARTY TO ANY ACTION OR PROCEEDING UNDER THE PROVISIONS OF
A LOCAL LAW ENACTED PURSUANT TO THIS ARTICLE WHEN THE RETURNS OR FACTS
SHOWN THEREBY ARE DIRECTLY INVOLVED IN SUCH ACTION OR PROCEEDING, IN ANY
OF WHICH EVENTS THE COURT MAY REQUIRE THE PRODUCTION OF, AND MAY ADMIT
IN EVIDENCE, SO MUCH OF SAID RETURNS OR OF THE FACTS SHOWN THEREBY, AS
ARE PERTINENT TO THE ACTION OR PROCEEDING AND NO MORE.
3. NOTHING IN THIS SECTION SHALL BE CONSTRUED TO PROHIBIT THE DELIVERY
TO A GRANTOR OR GRANTEE OF AN INSTRUMENT EFFECTING A CONVEYANCE OR THE
DULY AUTHORIZED REPRESENTATIVE OF A GRANTOR OR GRANTEE OF A CERTIFIED
COPY OF ANY RETURN FILED IN CONNECTION WITH SUCH INSTRUMENT OR TO
PROHIBIT THE PUBLICATION OF STATISTICS SO CLASSIFIED AS TO PREVENT THE
IDENTIFICATION OF PARTICULAR RETURNS AND THE ITEMS THEREOF, OR THE
INSPECTION BY THE LEGAL REPRESENTATIVES OF SUCH COUNTY, CITY, OR TOWN OF
THE RETURN OF ANY TAXPAYER WHO SHALL BRING ACTION TO SET ASIDE OR REVIEW
THE TAX BASED THEREON.
§ 3. Severability. If any provision of this act or the application
thereof shall for any reason be adjudged by any court of competent
jurisdiction to be invalid, such judgment shall not affect, impair, or
invalidate the remainder of this act, but shall be confined in its oper-
ation to the provision thereof directly involved in the controversy in
which such judgment shall have been rendered.
§ 4. This act shall take effect immediately.
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.