STATE OF NEW YORK
________________________________________________________________________
2829
2023-2024 Regular Sessions
IN ASSEMBLY
January 27, 2023
___________
Introduced by M. of A. ZEBROWSKI -- Multi-Sponsored by -- M. of A. COOK
-- read once and referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to providing
respondents the option to repay a court ordered refund in installments
of no more than five years
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 726 of the real
2 property tax law, as added by chapter 503 of the laws of 1996, is
3 amended to read as follows:
4 (a) If the [parties have so agreed] respondent requests, a final order
5 [may] shall provide that a refund which is payable pursuant to this
6 section shall be paid in installments over a specified period, not to
7 exceed five years. [The order may further provide, if the parties have
8 so agreed, that interest shall be paid on such installments, at the rate
9 provided by this section.] Each such installment shall be audited, paid
10 and charged back in the manner provided by this section.
11 § 2. This act shall take effect on the first of January next succeed-
12 ing the date upon which it shall become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD06864-01-3
