Senate Bill S5906

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5906
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                               March 3, 2025
                                ___________
 
 Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Cities 1
 
 AN ACT to amend the general municipal law, in relation to the  exclusion
   of uncollectible taxes from the limitation on real estate taxes in New
   York city

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 3-b of the general  municipal  law  is  amended  by
 adding three new subdivisions 3, 4 and 5 to read as follows:
   3.  THE  AMOUNT  TO BE RAISED BY TAX ON REAL ESTATE IN ANY FISCAL YEAR
 COMMENCING ON OR AFTER JULY FIRST, TWO THOUSAND TWENTY-FIVE BY THE  CITY
 OF  NEW  YORK  AND  THE  COUNTIES  CONTAINED THEREIN FOR CITY AND COUNTY
 PURPOSES, IN ADDITION TO PROVIDING FOR THE INTEREST ON AND THE PRINCIPAL
 OF ALL INDEBTEDNESS DESCRIBED IN SUBDIVISION ONE OF THIS SECTION,  SHALL
 ONLY  INCLUDE  AN ADDITIONAL AMOUNT FOR A RESERVE FOR THOSE TAXES, WHICH
 IT ESTIMATES IN EACH BUDGET YEAR IN GOOD FAITH WILL BE UNCOLLECTIBLE FOR
 THE PAYMENT OF SUCH INDEBTEDNESS, MINUS ANY AMOUNT COLLECTED DURING  THE
 FISCAL  YEAR BY THE CITY OF NEW YORK FROM PRIOR LEVIES INCLUDING BY REAL
 PROPERTY TAX LIEN SALES.
   4. FOR PURPOSES OF THIS SECTION, THE TERM "UNCOLLECTIBLE"  SHALL  MEAN
 AN  ESTIMATE OF THE AMOUNT THAT TAXPAYERS DO NOT PAY BECAUSE THEY CANNOT
 PAY OR BECAUSE THEY CHOOSE NOT TO PAY.
   5. THE RESERVE WHICH THE CITY OF NEW YORK AND THE  COUNTIES  CONTAINED
 THEREIN ESTIMATES SHALL BE UNCOLLECTIBLE FOR THE PAYMENT OF SUCH INDEBT-
 EDNESS  SHALL  NOT INCLUDE ANY ABATEMENT OR EXEMPTION AMOUNTS INCLUDING,
 BUT NOT LIMITED TO, THOSE ABATEMENT  AMOUNTS  AS  AUTHORIZED  BY:    (A)
 SECTION  FOUR  HUNDRED  SIXTY-SEVEN-A  OF THE REAL PROPERTY TAX LAW; (B)
 SECTION FOUR HUNDRED SIXTY-SEVEN-B OF THE REAL  PROPERTY  TAX  LAW;  (C)
 SECTION  FOUR  HUNDRED  SIXTY-SEVEN-C  OF THE REAL PROPERTY TAX LAW; (D)
 SECTION FOUR HUNDRED SIXTY-SEVEN-F OF THE REAL  PROPERTY  TAX  LAW;  (E)
 SECTION  FOUR  HUNDRED  SIXTY-SEVEN-H  OF THE REAL PROPERTY TAX LAW; (F)
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09887-01-5
              

 S. 5906                             2
 
 SECTION FOUR HUNDRED SIXTY-SEVEN-I OF THE REAL  PROPERTY  TAX  LAW;  (G)
 SECTION  FOUR  HUNDRED  EIGHTY-NINE  OF  THE  REAL PROPERTY TAX LAW; (H)
 SECTION FOUR HUNDRED NINETY-NINE-B OF THE REAL  PROPERTY  TAX  LAW;  (I)
 SECTION  SIXTY-FIVE OF PART A OF CHAPTER TWENTY OF THE LAWS OF TWO THOU-
 SAND  FIFTEEN,  OR  ANY  OTHER  STATUTE  AUTHORIZING  THE  ABATEMENT  OR
 EXEMPTION OF REAL PROPERTY TAXES.
   § 2. This act shall take effect immediately.