STATE OF NEW YORK
________________________________________________________________________
3212
2009-2010 Regular Sessions
IN ASSEMBLY
January 23, 2009
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Introduced by M. of A. EDDINGTON -- read once and referred to the
Committee on Ways and Means
AN ACT to amend the tax law, in relation to providing an exemption from
the real estate transfer tax for certain conveyances to the town of
Brookhaven, county of Suffolk
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraph 10 of subdivision (b) of section 1405 of the tax
2 law, as amended by chapter 61 of the laws of 1989, is amended and a new
3 paragraph 11 is added to read as follows:
4 10. Conveyances of an option or contract to purchase real property
5 with the use or occupancy of such property where the consideration is
6 less than two hundred thousand dollars and such property was used solely
7 by the grantor as his personal residence and consists of a one, two or
8 three-family house, an individual residential condominium unit or the
9 sale of stock in a cooperative housing corporation in connection with
10 the grant or transfer of a proprietary leasehold covering an individual
11 residential cooperative unit[.];
12 11. Conveyances of vacant land to the town of Brookhaven, county of
13 Suffolk, where such vacant land is to be used by such town for open
14 space purposes.
15 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD04617-01-9
