S T A T E O F N E W Y O R K
2015-2016 Regular Sessions
I N A S S E M B L Y
May 29, 2015
Introduced by M. of A. MAGNARELLI, LUPARDO, McDONALD -- read once and
referred to the Committee on Local Governments
AN ACT to amend the not-for-profit corporation law, in relation to the
acquisition and disposition of property by land banks
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph (a) of section 1608 of the not-for-profit corpo-
ration law, as added by chapter 257 of the laws of 2011, is amended to
read as follows:
(a) The real property of a land bank and its income and operations are
exempt from all taxation by the state of New York and by any of its
political subdivisions. NOTWITHSTANDING ANY OTHER GENERAL, SPECIAL OR
LOCAL LAW RELATING TO FEES OF CLERKS, NO CLERK SHALL CHARGE OR COLLECT A
FEE FOR FILING, RECORDING OR INDEXING ANY PAPER, DOCUMENT, MAP OR
PROCEEDING FILED, RECORDED OR INDEXED FOR A LAND BANK, OR AN OFFICER
THEREOF ACTING IN AN OFFICIAL CAPACITY, NOR FOR FURNISHING A TRANSCRIPT,
CERTIFICATION OR COPY OF ANY PAPER, DOCUMENT, MAP OR PROCEEDING TO BE
USED FOR LAND BANK PURPOSES.
S 2. Section 1609 of the not-for-profit corporation law is amended by
adding a new paragraph (a-1) to read as follows:
(A-1) THIS SECTION GOVERNING THE DISPOSITION OF PROPERTY BY LAND BANKS
SHALL SUPERSEDE SECTION TWENTY-EIGHT HUNDRED NINETY-SEVEN OF THE PUBLIC
AUTHORITIES LAW IN THE GOVERNANCE OF PROPERTY DISPOSITIONS BY LAND BANKS
AND, AS SUCH, NOTWITHSTANDING ANY OTHER GENERAL, SPECIAL OR LOCAL LAW TO
THE CONTRARY, SECTION TWENTY-EIGHT HUNDRED NINETY-SEVEN OF THE PUBLIC
AUTHORITIES LAW SHALL NOT APPLY TO LAND BANKS.
S 3. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.