assembly Bill A10215

2015-2016 Legislative Session

Relates to authority for track owners and directors to race horses at such tracks

download bill text pdf

Sponsored By

Archive: Last Bill Status -


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
You must fill out the form below in order to support or oppose this bill. X

Actions

view actions (3)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 29, 2016 print number 10215a
amend (t) and recommit to racing and wagering
May 17, 2016 referred to racing and wagering

A10215 - Details

Law Section:
Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:
Add §307-b, RWB L

A10215 - Summary

Provides authority for track owners and directors to race horses at such tracks subject to the consent of the certified representative organization of horsemen at such tracks.

A10215 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  10215

                          I N  A S S E M B L Y

                              May 17, 2016
                               ___________

Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
  tee on Racing and Wagering

AN ACT to amend the racing pari-mutuel wagering  and  breeding  law,  in
  relation to authority for track owners and directors to race horses at
  such tracks

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The  racing,  pari-mutuel  wagering  and  breeding  law  is
amended by adding a new section 307-b to read as follows:
  S  307-B.  RACING  OF  HORSES BY TRACK OWNERS. AN OFFICER, DIRECTOR OR
EXECUTIVE, OR SPOUSE THEREOF, OF A TRACK MAY OWN A HORSE WHICH RACES  AT
SUCH  TRACK,  SUBJECT  TO  THE  CONSENT  OF THE CERTIFIED REPRESENTATIVE
ORGANIZATION OF HORSEMEN AT SUCH TRACK. THIS CONSENT MAY BE WITHDRAWN AT
ANY TIME UPON A FINDING BY THE CERTIFIED REPRESENTATIVE ORGANIZATION  OF
HORSEMEN THAT THIS PRIVILEGE HAS BEEN ABUSED. THE BOARD SHALL BE AUTHOR-
IZED TO PROMULGATE REGULATIONS TO EFFECTUATE THE INTENT OF THIS SECTION.
  S  2.  This  act shall take effect on the ninetieth day after it shall
have become a law; provided, however, that  effective  immediately,  the
addition  and/or  repeal  of  any  rule  or regulation necessary for the
implementation of this act on its  effective  date  are  authorized  and
directed to be made and completed on or before such effective date.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15336-01-6

A10215A - Details

Law Section:
Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:
Add §307-b, RWB L

A10215A - Summary

Provides authority for track owners and directors to race horses at such tracks subject to the consent of the certified representative organization of horsemen at such tracks.

A10215A - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                10215--A

                          I N  A S S E M B L Y

                              May 17, 2016
                               ___________

Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
  tee on Racing and Wagering  --  committee  discharged,  bill  amended,
  ordered reprinted as amended and recommitted to said committee

AN  ACT  to  amend the racing, pari-mutuel wagering and breeding law, in
  relation to authority for certain track owners and directors  to  race
  horses at such tracks; and providing for the repeal of such provisions
  upon expiration thereof

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The  racing,  pari-mutuel  wagering  and  breeding  law  is
amended by adding a new section 307-b to read as follows:
  S  307-B.  RACING  OF  HORSES BY TRACK OWNERS. AN OFFICER, DIRECTOR OR
EXECUTIVE, OR SPOUSE THEREOF, OF ANY TRACKS LOCATED IN ONEIDA  OR  TIOGA
COUNTIES  MAY  OWN  A  HORSE  WHICH RACES AT SUCH TRACKS, SUBJECT TO THE
CONSENT OF THE CERTIFIED REPRESENTATIVE ORGANIZATION OF HORSEMEN AT SUCH
TRACKS. THIS CONSENT MAY BE WITHDRAWN AT ANY TIME UPON A FINDING BY  THE
CERTIFIED  REPRESENTATIVE  ORGANIZATION  OF HORSEMEN THAT THIS PRIVILEGE
HAS BEEN ABUSED. THE BOARD SHALL BE AUTHORIZED TO PROMULGATE REGULATIONS
TO EFFECTUATE THE INTENT OF THIS SECTION.
  S 2. This act shall take effect on the ninetieth day  after  it  shall
have  become  a law and shall expire and be deemed repealed on and after
December 31, 2021; provided, however, that  effective  immediately,  the
addition  and/or  repeal  of  any  rule  or regulation necessary for the
implementation of this act on its  effective  date  are  authorized  and
directed to be made and completed on or before such effective date.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15336-03-6

assembly Bill A10214

Signed By Governor
2015-2016 Legislative Session

Relates to an exemption of capital improvements to multiple dwelling buildings within certain cities

download bill text pdf

Sponsored By

Archive: Last Bill Status -


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor
You must fill out the form below in order to support or oppose this bill. X

Actions

view actions (23)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Nov 04, 2016 signed chap.417
Oct 26, 2016 delivered to governor
Jun 16, 2016 returned to assembly
passed senate
3rd reading cal.1361
substituted for s7847c
Jun 14, 2016 referred to rules
delivered to senate
passed assembly
Jun 08, 2016 ordered to third reading rules cal.199
rules report cal.199
reported
Jun 06, 2016 reported referred to rules
reported referred to ways and means
Jun 02, 2016 print number 10214d
amend and recommit to real property taxation
Jun 01, 2016 print number 10214c
amend and recommit to real property taxation
May 31, 2016 print number 10214b
amend and recommit to real property taxation
May 20, 2016 print number 10214a
amend (t) and recommit to real property taxation
May 17, 2016 referred to real property taxation

A10214 - Details

See Senate Version of this Bill:
S7847
Law Section:
Real Property Tax Law
Laws Affected:
Add §421-o, RPT L

A10214 - Summary

Relates to an exemption of capital improvements to multiple dwelling buildings within certain cities.

A10214 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

    S. 7847                                                 A. 10214

                      S E N A T E - A S S E M B L Y

                              May 17, 2016
                               ___________

IN  SENATE -- Introduced by Sen. O'MARA -- read twice and ordered print-
  ed, and when printed to be committed  to  the  Committee  on  Housing,
  Construction and Community Development

IN  ASSEMBLY  --  Introduced  by  M.  of  A.  PALMESANO -- read once and
  referred to the Committee on Real Property Taxation

AN ACT to amend the real property tax law, in relation to  an  exemption
  of  capital  improvements  to  certain  residential  buildings  within
  certain cities

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The  real  property  tax  law  is amended by adding a new
section 421-o to read as follows:
  S 421-O. EXEMPTION OF  CAPITAL  IMPROVEMENTS  TO  CERTAIN  RESIDENTIAL
BUILDINGS  WITHIN  CERTAIN CITIES. 1. RESIDENTIAL BUILDINGS DESIGNED AND
OCCUPIED EXCLUSIVELY FOR RESIDENTIAL PURPOSES  BY  NOT  MORE  THAN  FOUR
FAMILIES  LOCATED IN ANY CITY HAVING A POPULATION OF MORE THAN TEN THOU-
SAND INHABITANTS BUT FEWER THAN TWELVE THOUSAND INHABITANTS,  DETERMINED
IN  ACCORDANCE WITH THE LATEST FEDERAL DECENNIAL CENSUS, THAT ARE RECON-
STRUCTED, ALTERED OR IMPROVED SUBSEQUENT TO  THE  EFFECTIVE  DATE  OF  A
LOCAL  LAW  OR  RESOLUTION PURSUANT TO THIS SECTION SHALL BE EXEMPT FROM
TAXATION AND SPECIAL AD VALOREM LEVIES TO THE EXTENT PROVIDED HEREINAFT-
ER. AFTER A PUBLIC HEARING, THE GOVERNING BOARD OF SUCH CITY MAY ADOPT A
LOCAL LAW TO GRANT THE EXEMPTION AUTHORIZED PURSUANT TO THIS SECTION.  A
COPY  OF  SUCH  LOCAL  LAW  SHALL BE FILED WITH THE COMMISSIONER AND THE
ASSESSOR OF SUCH CITY WHO PREPARES THE  ASSESSMENT  ROLL  ON  WHICH  THE
TAXES OF SUCH CITY ARE LEVIED.
  2. (A) SUCH BUILDINGS WITHIN SUCH CITY SHALL BE EXEMPT FOR A PERIOD OF
ONE  YEAR  TO  THE  EXTENT  OF  ONE  HUNDRED  PERCENT OF THE INCREASE IN
ASSESSED  VALUE  ATTRIBUTABLE  TO  SUCH  RECONSTRUCTION,  ALTERATION  OR
IMPROVEMENT  AND  FOR AN ADDITIONAL PERIOD OF SEVEN YEARS SUBJECT TO THE
FOLLOWING:
  (I) THE EXTENT OF SUCH EXEMPTION SHALL BE DECREASED BY EIGHT AND  ONE-
THIRD  PERCENT  OF THE "EXEMPTION BASE" EACH YEAR DURING SUCH ADDITIONAL

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

A10214A - Details

See Senate Version of this Bill:
S7847
Law Section:
Real Property Tax Law
Laws Affected:
Add §421-o, RPT L

A10214A - Summary

Relates to an exemption of capital improvements to multiple dwelling buildings within certain cities.

A10214A - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

    S. 7847--A                                           A. 10214--A

                      S E N A T E - A S S E M B L Y

                              May 17, 2016
                               ___________

IN  SENATE -- Introduced by Sen. O'MARA -- read twice and ordered print-
  ed, and when printed to be committed  to  the  Committee  on  Housing,
  Construction  and  Community Development -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

IN  ASSEMBLY  --  Introduced  by  M.  of  A.  PALMESANO -- read once and
  referred to the Committee  on  Real  Property  Taxation  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN  ACT  to amend the real property tax law, in relation to an exemption
  of capital improvements to multiple dwelling buildings within  certain
  cities

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The real property tax  law  is  amended  by  adding  a  new
section 421-o to read as follows:
  S 421-O. EXEMPTION OF CAPITAL IMPROVEMENTS TO MULTIPLE DWELLING BUILD-
INGS  WITHIN  CERTAIN  CITIES.  1.  MULTIPLE  DWELLING BUILDINGS, RECON-
STRUCTED, ALTERED, CONVERTED BACK TO AN  OWNER  OCCUPIED  SINGLE  FAMILY
DWELLING  LOCATED IN ANY CITY HAVING A POPULATION OF MORE THAN TEN THOU-
SAND INHABITANTS BUT FEWER THAN TWELVE THOUSAND INHABITANTS,  DETERMINED
IN  ACCORDANCE WITH THE LATEST FEDERAL DECENNIAL CENSUS, THAT ARE RECON-
STRUCTED, ALTERED OR IMPROVED SUBSEQUENT TO  THE  EFFECTIVE  DATE  OF  A
LOCAL  LAW  OR  RESOLUTION PURSUANT TO THIS SECTION SHALL BE EXEMPT FROM
TAXATION AND SPECIAL AD VALOREM LEVIES TO THE EXTENT PROVIDED HEREINAFT-
ER. AFTER A PUBLIC HEARING, THE GOVERNING BOARD OF SUCH CITY MAY ADOPT A
LOCAL LAW TO GRANT THE EXEMPTION AUTHORIZED PURSUANT TO THIS SECTION.  A
COPY  OF  SUCH  LOCAL  LAW  SHALL BE FILED WITH THE COMMISSIONER AND THE
ASSESSOR OF SUCH CITY WHO PREPARES THE  ASSESSMENT  ROLL  ON  WHICH  THE
TAXES OF SUCH CITY ARE LEVIED.
  2. (A) SUCH BUILDINGS WITHIN SUCH CITY SHALL BE EXEMPT FOR A PERIOD OF
ONE  YEAR  TO  THE  EXTENT  OF  ONE  HUNDRED  PERCENT OF THE INCREASE IN
ASSESSED  VALUE  ATTRIBUTABLE  TO  SUCH  RECONSTRUCTION,  ALTERATION  OR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

A10214B - Details

See Senate Version of this Bill:
S7847
Law Section:
Real Property Tax Law
Laws Affected:
Add §421-o, RPT L

A10214B - Summary

Relates to an exemption of capital improvements to multiple dwelling buildings within certain cities.

A10214B - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                10214--B

                          I N  A S S E M B L Y

                              May 17, 2016
                               ___________

Introduced  by  M.  of  A.  PALMESANO  --  read once and referred to the
  Committee on Real Property  Taxation  --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee -- again reported from said  committee  with  amendments,  ordered
  reprinted as amended and recommitted to said committee

AN  ACT  to amend the real property tax law, in relation to an exemption
  of capital improvements to multiple dwelling buildings within  certain
  cities

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The real property tax  law  is  amended  by  adding  a  new
section 421-o to read as follows:
  S 421-O. EXEMPTION OF CAPITAL IMPROVEMENTS TO MULTIPLE DWELLING BUILD-
INGS  WITHIN  CERTAIN  CITIES.  1.  MULTIPLE  DWELLING BUILDINGS, RECON-
STRUCTED, ALTERED, CONVERTED BACK TO AN  OWNER  OCCUPIED  SINGLE  FAMILY
DWELLING  LOCATED IN ANY CITY HAVING A POPULATION OF MORE THAN TEN THOU-
SAND INHABITANTS BUT FEWER THAN TWELVE  THOUSAND  INHABITANTS,  THAT  IS
LOCATED  IN A COUNTY HAVING A POPULATION OF MORE THAN NINETY-SEVEN THOU-
SAND INHABITANTS  BUT  FEWER  THAN  NINETY-EIGHT  THOUSAND  INHABITANTS,
DETERMINED  IN ACCORDANCE WITH THE LATEST FEDERAL DECENNIAL CENSUS, THAT
ARE RECONSTRUCTED, ALTERED OR IMPROVED SUBSEQUENT TO THE EFFECTIVE  DATE
OF  A  LOCAL  LAW OR RESOLUTION PURSUANT TO THIS SECTION SHALL BE EXEMPT
FROM TAXATION AND SPECIAL AD VALOREM LEVIES TO THE EXTENT PROVIDED HERE-
INAFTER. AFTER A PUBLIC HEARING, THE GOVERNING BOARD OF  SUCH  CITY  MAY
ADOPT  A  LOCAL  LAW  TO GRANT THE EXEMPTION AUTHORIZED PURSUANT TO THIS
SECTION. A COPY OF SUCH LOCAL LAW SHALL BE FILED WITH  THE  COMMISSIONER
AND  THE ASSESSOR OF SUCH CITY WHO PREPARES THE ASSESSMENT ROLL ON WHICH
THE TAXES OF SUCH CITY ARE LEVIED.
  2. (A) SUCH BUILDINGS WITHIN SUCH CITY SHALL BE EXEMPT FOR A PERIOD OF
ONE YEAR TO THE EXTENT  OF  ONE  HUNDRED  PERCENT  OF  THE  INCREASE  IN
ASSESSED  VALUE  ATTRIBUTABLE  TO  SUCH  RECONSTRUCTION,  ALTERATION  OR
IMPROVEMENT AND FOR AN ADDITIONAL PERIOD OF SEVEN YEARS SUBJECT  TO  THE
FOLLOWING:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15431-03-6

A10214C - Details

See Senate Version of this Bill:
S7847
Law Section:
Real Property Tax Law
Laws Affected:
Add §421-o, RPT L

A10214C - Summary

Relates to an exemption of capital improvements to multiple dwelling buildings within certain cities.

A10214C - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                10214--C

                          I N  A S S E M B L Y

                              May 17, 2016
                               ___________

Introduced  by  M.  of  A.  PALMESANO  --  read once and referred to the
  Committee on Real Property  Taxation  --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee -- again reported from said  committee  with  amendments,  ordered
  reprinted  as  amended  and  recommitted  to  said  committee -- again
  reported from said committee with  amendments,  ordered  reprinted  as
  amended and recommitted to said committee

AN  ACT  to amend the real property tax law, in relation to an exemption
  of capital improvements to multiple dwelling buildings within  certain
  cities

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The real property tax  law  is  amended  by  adding  a  new
section 421-o to read as follows:
  S 421-O. EXEMPTION OF CAPITAL IMPROVEMENTS TO MULTIPLE DWELLING BUILD-
INGS  WITHIN  CERTAIN  CITIES.  1.  MULTIPLE  DWELLING BUILDINGS, RECON-
STRUCTED, ALTERED, CONVERTED BACK TO AN  OWNER  OCCUPIED  SINGLE  FAMILY
DWELLING  LOCATED IN ANY CITY HAVING A POPULATION OF MORE THAN TEN THOU-
SAND INHABITANTS BUT FEWER THAN TWELVE  THOUSAND  INHABITANTS,  THAT  IS
LOCATED  IN A COUNTY HAVING A POPULATION OF MORE THAN NINETY-SEVEN THOU-
SAND INHABITANTS  BUT  FEWER  THAN  NINETY-EIGHT  THOUSAND  INHABITANTS,
DETERMINED  IN ACCORDANCE WITH THE LATEST FEDERAL DECENNIAL CENSUS, THAT
ARE RECONSTRUCTED, ALTERED OR IMPROVED SUBSEQUENT TO THE EFFECTIVE  DATE
OF  A  LOCAL  LAW OR RESOLUTION PURSUANT TO THIS SECTION SHALL BE EXEMPT
FROM TAXATION AND SPECIAL AD VALOREM LEVIES TO THE EXTENT PROVIDED HERE-
INAFTER. AFTER A PUBLIC HEARING, THE GOVERNING BOARD OF  SUCH  CITY  MAY
ADOPT  A  LOCAL  LAW  TO GRANT THE EXEMPTION AUTHORIZED PURSUANT TO THIS
SECTION. A COPY OF SUCH LOCAL LAW SHALL BE FILED WITH  THE  COMMISSIONER
AND  THE ASSESSOR OF SUCH CITY WHO PREPARES THE ASSESSMENT ROLL ON WHICH
THE TAXES OF SUCH CITY ARE LEVIED.
  2. (A) SUCH BUILDINGS WITHIN SUCH CITY SHALL BE EXEMPT FOR A PERIOD OF
ONE YEAR TO THE EXTENT  OF  ONE  HUNDRED  PERCENT  OF  THE  INCREASE  IN
ASSESSED  VALUE  ATTRIBUTABLE  TO  SUCH  RECONSTRUCTION,  ALTERATION  OR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15431-04-6

A10214D - Details

See Senate Version of this Bill:
S7847
Law Section:
Real Property Tax Law
Laws Affected:
Add §421-o, RPT L

A10214D - Summary

Relates to an exemption of capital improvements to multiple dwelling buildings within certain cities.

A10214D - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                10214--D

                          I N  A S S E M B L Y

                              May 17, 2016
                               ___________

Introduced  by  M.  of  A.  PALMESANO  --  read once and referred to the
  Committee on Real Property  Taxation  --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee -- again reported from said  committee  with  amendments,  ordered
  reprinted  as  amended  and  recommitted  to  said  committee -- again
  reported from said committee with  amendments,  ordered  reprinted  as
  amended  and recommitted to said committee -- again reported from said
  committee with amendments, ordered reprinted as amended and  recommit-
  ted to said committee

AN  ACT  to amend the real property tax law, in relation to an exemption
  of capital improvements to multiple dwelling buildings within  certain
  cities

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The real property tax  law  is  amended  by  adding  a  new
section 421-o to read as follows:
  S 421-O. EXEMPTION OF CAPITAL IMPROVEMENTS TO MULTIPLE DWELLING BUILD-
INGS  WITHIN  CERTAIN  CITIES.  1.  MULTIPLE  DWELLING BUILDINGS, RECON-
STRUCTED, ALTERED, CONVERTED BACK TO AN  OWNER  OCCUPIED  SINGLE  FAMILY
DWELLING  LOCATED IN ANY CITY HAVING A POPULATION OF MORE THAN TEN THOU-
SAND INHABITANTS BUT FEWER THAN TWELVE  THOUSAND  INHABITANTS,  THAT  IS
LOCATED  IN A COUNTY HAVING A POPULATION OF MORE THAN NINETY-SEVEN THOU-
SAND INHABITANTS BUT FEWER THAN NINETY-NINE THOUSAND INHABITANTS, DETER-
MINED IN ACCORDANCE WITH THE LATEST FEDERAL DECENNIAL CENSUS,  THAT  ARE
RECONSTRUCTED, ALTERED OR IMPROVED SUBSEQUENT TO THE EFFECTIVE DATE OF A
LOCAL  LAW  OR  RESOLUTION PURSUANT TO THIS SECTION SHALL BE EXEMPT FROM
TAXATION AND SPECIAL AD VALOREM LEVIES TO THE EXTENT PROVIDED HEREINAFT-
ER. AFTER A PUBLIC HEARING, THE GOVERNING BOARD OF SUCH CITY MAY ADOPT A
LOCAL LAW TO GRANT THE EXEMPTION AUTHORIZED PURSUANT TO THIS SECTION.  A
COPY  OF  SUCH  LOCAL  LAW  SHALL BE FILED WITH THE COMMISSIONER AND THE
ASSESSOR OF SUCH CITY WHO PREPARES THE  ASSESSMENT  ROLL  ON  WHICH  THE
TAXES OF SUCH CITY ARE LEVIED.
  2. (A) SUCH BUILDINGS WITHIN SUCH CITY SHALL BE EXEMPT FOR A PERIOD OF
ONE  YEAR  TO  THE  EXTENT  OF  ONE  HUNDRED  PERCENT OF THE INCREASE IN

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.