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Assembly Bill A4714A

2025-2026 Legislative Session

Relates to the conveyance of certain real property for open space, parks, or historic preservation purposes

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Current Bill Status - In Assembly Committee

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Bill Amendments

2025-A4714 - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §1405, Tax L
Versions Introduced in Other Legislative Sessions:
2021-2022: A8651
2023-2024: A1611

2025-A4714 - Summary

Exempts the conveyance of real property for open space, parks, or historic preservation purposes to any not-for-profit tax exempt corporation operated for conservation, environmental, parks or historic preservation purposes from the state real estate transfer tax and the additional tax on real estate transfers of residential real property where the consideration is one million dollars or more.

2025-A4714 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4714
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 4, 2025
                                ___________
 
 Introduced  by  M.  of  A.  SCHIAVONI  --  read once and referred to the
   Committee on Ways and Means
 
 AN ACT to amend the tax law, in relation to exempting the conveyance  of
   real property for open space, parks, or historic preservation purposes
   to  any  not-for-profit  tax exempt corporation operated for conserva-
   tion, environmental, or historic preservation purposes from the  state
   real  estate transfer tax and the additional tax on real estate trans-
   fers of residential real  property  where  the  consideration  is  one
   million dollars or more
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 1402-a of the tax law is amended by  adding  a  new
 subdivision (d) to read as follows:
   (D)  NOTWITHSTANDING  ANY  PROVISION  OF  LAW TO THE CONTRARY, THE TAX
 IMPOSED PURSUANT TO SECTION ONE THOUSAND FOUR HUNDRED TWO OF THIS  ARTI-
 CLE  AND  THE  ADDITIONAL TAX IMPOSED BY THIS SECTION SHALL NOT APPLY TO
 THE CONVEYANCE OF REAL PROPERTY FOR OPEN SPACE, PARKS, OR HISTORIC PRES-
 ERVATION PURPOSES TO ANY NOT-FOR-PROFIT TAX EXEMPT CORPORATION  OPERATED
 FOR CONSERVATION, ENVIRONMENTAL OR HISTORIC PRESERVATION PURPOSES.
   § 2. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06630-01-5

co-Sponsors

2025-A4714A (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §1405, Tax L
Versions Introduced in Other Legislative Sessions:
2021-2022: A8651
2023-2024: A1611

2025-A4714A (ACTIVE) - Summary

Exempts the conveyance of real property for open space, parks, or historic preservation purposes to any not-for-profit tax exempt corporation operated for conservation, environmental, parks or historic preservation purposes from the state real estate transfer tax and the additional tax on real estate transfers of residential real property where the consideration is one million dollars or more.

2025-A4714A (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4714--A
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 4, 2025
                                ___________
 
 Introduced  by  M.  of  A.  SCHIAVONI  --  read once and referred to the
   Committee on Ways and Means --  committee  discharged,  bill  amended,
   ordered reprinted as amended and recommitted to said committee
 
 AN  ACT to amend the tax law, in relation to exemptions for any not-for-
   profit tax exempt  corporation  operated  for  conservation,  environ-
   mental, parks or historic preservation purposes
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 1405 of the tax law is  amended  by  adding  a  new
 subdivision (c) to read as follows:
   (C)  CONVEYANCES  OF  REAL PROPERTY FOR OPEN SPACE, PARKS, OR HISTORIC
 PRESERVATION PURPOSES TO ANY NOT-FOR-PROFIT TAX EXEMPT CORPORATION OPER-
 ATED FOR CONSERVATION, ENVIRONMENTAL,  PARKS  OR  HISTORIC  PRESERVATION
 PURPOSES SHALL BE EXEMPT FROM PAYMENT OF ADDITIONAL TAXES IMPOSED PURSU-
 ANT TO SECTION FOURTEEN HUNDRED TWO-A OF THIS ARTICLE.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06630-03-5

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