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A02350 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
 submitted in accordance with Assembly Rule III, Sec 1(f)



 
BILL NUMBER: A2350
 
SPONSOR: Crouch (MS)

 
TITLE OF BILL:  An act to amend the real property tax law, in relation
to providing a real property tax exemption on lands used for certain
agricultural purposes; and providing for the repeal of such provisions
upon expiration thereof
 
 
PURPOSE OR GENERAL IDEA OF BILL:
 
Provides a real property tax exemption to agricultural lands that are
used for certain purposes.
 
 
SUMMARY OF SPECIFIC PROVISIONS:
 
Adding a new section 481-a to the real property tax law.
 
 
JUSTIFICATION:
 

To help offset costs for property owners if such property is being used
in the production of bio-energy crops (meaning crops grown specifically
for cellulosic ethanol processing) that are intended for use as alterna-
tive fuel.
 
 
PRIOR LEGISLATIVE HISTORY:
 
New bill.
 
 
FISCAL IMPLICATIONS:
 
Slight shift in property taxes due to effect of exemption.
 
 
EFFECTIVE DATE:
This act shall take effect immediately and shall expire and be deemed
repealed five years after such effective date.