A08354 Summary:

Amd S489-cccccc, RPT L
Relates to giving the New York city department of taxation discretion to accept late filings.
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A08354 Actions:

08/05/2015referred to real property taxation
01/06/2016referred to real property taxation
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A08354 Memo:

submitted in accordance with Assembly Rule III, Sec 1(f)
SPONSOR: Robinson
  TITLE OF BILL: An act to amend the real property tax law, in relation to giving the New York city department of finance discretion to accept late filings   PURPOSE: To provide the Department of Finance the authority to accept late final applications for the Industrial and Commercial Abatement Program.   SUMMARY OF PROVISIONS: Section 1 amends subdivision (ii) of subparagraph (a) of paragraph (5) of amends 489-ccccccc of the real property tax law to provide Department of Finance with ability to accept late applications. Section 2 sets forth the effective date.   JUSTIFICATION: Industrial and Commercial Abatement Program (ICAP) is a tax abatement in a city with more than one million persons. New York City has used this enabling statute to adopt a local law and has a successful ICAP abate- ment program. A complex formula credits businesses property tax bills during the years construction is done to improve their property. The purpose of this tax abatement was to incentivize businesses to expand. The program has been very popular and the program has met with success. There is however a small correction that will increase the number of businesses helped. Under current law an applicant must file two applications to be eligible for ICAP: 1) a preliminary application on or before the date of the department of buildings issues the first permit for the site and 2) a final application. The final application must. be filed with DOF "no later than one year from the date of the issuance of the first building permit for construction" or when no building permit is required no later than one year from date of commencement of construction. The Department of Finance has no ability under current law to grant an abatement if an applicant files the final application after one year if something holds up the construction process. Unfortunately 85 businesses have been denied the abatement because they were unable to complete construction within one year because a city agency held up the construction, whether it be because they issued a stop work order or work stopped while waiting for inspectors to come to the property or for some other reason based upon a city agency's action or inaction and beyond the applicant's control. This legislation provides the Department of Finance with the ability to accept applica- tions and to ensure that the abatement program operates as intended.   LEGISLATIVE HISTORY: This is a new bill.   FISCAL IMPLICATIONS: None to the state.   EFFECTIVE DATE: This bill shall take effect immediately.
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A08354 Text:

                STATE OF NEW YORK
                               2015-2016 Regular Sessions
                   IN ASSEMBLY
                                     August 5, 2015
        Introduced by M. of A. ROBINSON -- read once and referred to the Commit-
          tee on Real Property Taxation
        AN ACT to amend the real property tax law, in relation to giving the New
          York city department of finance discretion to accept late filings
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Subparagraph (ii) of paragraph  (a)  of  subdivision  5  of
     2  section 489-cccccc of the real property tax law, as added by chapter 119
     3  of the laws of 2008, is amended to read as follows:
     4    (ii)  Final application. Applicants shall file a final application for
     5  benefits no later than one year from the date of issuance of  the  first
     6  building  permit for construction work, or, where construction work does
     7  not require a building permit, no later than one year from the  date  of
     8  commencement  of  construction.  The  department of finance shall accept
     9  applications received after one year from the date  of  commencement  of
    10  construction  as  timely  filed if it finds no harm from the applicant's
    11  late filing or no fault on the part of the applicant in failing to  file
    12  prior to the expiration of one year.
    13    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
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