Creates a permissive class exemption from real property taxation on any real property owned by a non-profit organization organized for the purpose of promoting future economic development by means of the acquisition of real property for business, commercial or industrial development purposes.
STATE OF NEW YORK
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2785
2011-2012 Regular Sessions
IN ASSEMBLY
January 20, 2011
___________
Introduced by M. of A. CROUCH -- read once and referred to the Committee
on Real Property Taxation
AN ACT to amend the real property tax law, in relation to the exemption
for non-profit organizations
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 1 of section 420-b of the real
2 property tax law, as added by chapter 919 of the laws of 1981, is
3 amended to read as follows:
4 (a) Real property owned by a corporation or association which is
5 organized exclusively for bible, tract, benevolent, missionary, infir-
6 mary, public playground, scientific, literary, bar association, medical
7 society, library, patriotic or historical purposes, for the development
8 of good sportsmanship for persons under the age of eighteen years
9 through the conduct of supervised athletic games, for the purpose of
10 promoting future economic development by means of the acquisition of
11 real property for business, commercial, or industrial development
12 purposes, for the enforcement of laws relating to children or animals,
13 or for two or more such purposes, and used exclusively for carrying out
14 thereupon one or more of such purposes either by the owning corporation
15 or association, or by another such corporation or association as herein-
16 after provided, shall be exempt from taxation; provided, however, that
17 such property shall be taxable by any municipal corporation within which
18 it is located if the governing board of such municipal corporation,
19 after public hearing, adopts a local law, ordinance or resolution so
20 providing. None of the following subdivisions of this section providing
21 that certain properties shall be exempt under circumstances or condi-
22 tions set forth in such subdivisions shall exempt such property from
23 taxation by a municipal corporation whose governing board has adopted a
24 local law, ordinance or resolution providing that such property shall be
25 taxable pursuant to this subdivision.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD04557-01-1
A. 2785 2
1 § 2. This act shall take effect on the first of January next succeed-
2 ing the date on which it shall have become a law and shall apply to
3 assessment rolls prepared on the basis of taxable status dates occurring
4 on or after such date.
