-  This bill is not active in this session.
 
     
  •  Summary 
  •  
  •  Actions 
  •  
  •  Committee Votes 
  •  
  •  Floor Votes 
  •  
  •  Memo 
  •  
  •  Text 
  •  
  •  LFIN 
  •  
  •  Chamber Video/Transcript 

A06073 Summary:

BILL NOA06073A
 
SAME ASSAME AS S05882-A
 
SPONSORPerry
 
COSPNSRTaylor, Hyndman, Zinerman, Walker, Pichardo, Vanel, Richardson, Hevesi, Anderson
 
MLTSPNSR
 
Amd §489-cccccc, RPT L; amd §11-270, NYC Ad Cd
 
Provides that a certain time limit for purposes of filing a final application for a tax abatement shall not apply to certain construction projects.
Go to top

A06073 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         6073--A
 
                               2021-2022 Regular Sessions
 
                   IN ASSEMBLY
 
                                      March 9, 2021
                                       ___________
 
        Introduced by M. of A. PERRY, TAYLOR, HYNDMAN, ZINERMAN -- 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 and the administrative code of
          the city of New York, in relation to providing  that  a  certain  time
          limit  for  purposes of qualifying for a tax abatement shall not apply
          to certain brand-new from the ground up construction sited on property
          purchased from the city of New York
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section 1. Paragraph (a) of subdivision 5 of section 489-cccccc of the
     2  real  property  tax law is amended by adding a new subparagraph (iii) to
     3  read as follows:
     4    (iii) Notwithstanding any provision of law to the contrary,  the  time
     5  limit  to file a final application for benefits as specified in subpara-
     6  graph (ii) of this paragraph shall not apply to  brand-new  construction
     7  from  the  ground  up located on property purchased from the city of New
     8  York where such property which is the site of the new  construction  was
     9  purchased  from  the  city  of  New York for the purposes of an eligible
    10  development pursuant to this article and where the sales agreement  with
    11  the city of New York for such property includes a restriction preventing
    12  the sale or transfer of such property for a period of five years or more
    13  and where the first valuation and assessment for the purposes of proper-
    14  ty  taxes occurred within that period of restriction from sale, provided
    15  the project meets the other requirements of this title.
    16    § 2. Paragraph (1) of subdivision e of section 11-270 of the  adminis-
    17  trative code of the city of New York is amended by adding a new subpara-
    18  graph (c) to read as follows:
    19    (c)  Notwithstanding  any  provision  of law to the contrary, the time
    20  limit to file a final application for benefits as specified in  subpara-
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08932-10-1

        A. 6073--A                          2
 
     1  graph  (b)  of  this paragraph shall not apply to brand-new construction
     2  from the ground up located on property purchased from the  city  of  New
     3  York  where  such property which is the site of the new construction was
     4  purchased  from  the  city  of  New York for the purposes of an eligible
     5  development pursuant to this article and where the sales agreement  with
     6  the city of New York for such property includes a restriction preventing
     7  the sale or transfer of such property for a period of five years or more
     8  and where the first valuation and assessment for the purposes of proper-
     9  ty  taxes occurred within that period of restriction from sale, provided
    10  the project meets the other requirements of this title.
    11    § 3. This act  shall  take  effect  immediately  and  shall  apply  to
    12  projects  for  which  a  final application for benefits was filed on and
    13  after January 1, 2018.
Go to top