Relates to changes in assessment for businesses that make payments in lieu of taxes; establishes that any reduction in school taxes shall not take effect until the following taxable status year.
STATE OF NEW YORK
________________________________________________________________________
218
2019-2020 Regular Sessions
IN ASSEMBLY(Prefiled)
January 9, 2019
___________
Introduced by M. of A. PAULIN, GALEF, STIRPE -- read once and referred
to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to changes in
assessment for businesses that make payments in lieu of taxes
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The real property tax law is amended by adding a new
2 section 561 to read as follows:
3 § 561. Payments in lieu of taxes; change of assessment; effective
4 date. Notwithstanding any other provision of law, for any payment in
5 lieu of taxes agreement entered into on or after the effective date of
6 this section, when the assessment of a property making payments in lieu
7 of taxes is challenged through the grievance process, any reduction in
8 payments in lieu of taxes made to a school district resulting from such
9 challenge shall not take effect until the following taxable status year.
10 § 2. This act shall take effect on the sixtieth day after it shall
11 have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD01789-01-9
