New York State Assembly

Bill No.:  

 
•  Summary 
 
•  Actions 
 
•  Committee Votes 
 
•  Floor Votes 
 
•  Memo 
 
•  Text 

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A07150 Summary:

BILL NO	A07150
SAME AS	SAME AS S05096
SPONSOR	Gunther
COSPNSR	Raia
MLTSPNSR
Relates to changes in taxation of forest land.

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A07150 Actions:

BILL NO	A07150
04/27/2015	referred to real property taxation
01/06/2016	referred to real property taxation

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A07150 Memo:

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



 
BILL NUMBER: A7150
 
SPONSOR: Gunther

 
TITLE OF BILL:
 
An act in relation to changes in taxation of forest land
 
 
PURPOSE:
 
This bill would allow properties currently receiving a 480-a tax
exemption to continue in the program as it currently exists notwith-
standing any future amendments to section 480-a of the real property tax
law
 
 
SUMMARY OF PROVISIONS:
 
Section 1 states that any amendments to section 480-a of the real prop-
erty tax law initiated by the Department of Environmental Conservation

shall only apply to applications made on or after the effective date of
this act.
 
Section 2 sets the effective date.
 
 
JUSTIFICATION:
 
The New York State Department of Environmental Conservation is currently
in discussions to amend the 480-a forest land property tax exemption.
Many commercial and residential properties have been in the existing
program for decades with the understanding that the exemption agreement
with the State can be renewed every ten years. However, the proposed
changes would require many participants to either leave the program or
take a smaller exemption with different land management requirements
with significant additional expenses. This legislation would ensure that
current recipients can continue to receive their existing exemption.
 
 
LEGISLATIVE HISTORY:
 
New bill.
 
 
FISCAL IMPLICATIONS:
 
To be determined.
 
 
EFFECTIVE DATE:
This act shall take effect immediately.

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