New York State Assembly

Bill No.:  

 
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•  Committee Votes 
 
•  Floor Votes 
 
•  Memo 
 
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A04805 Summary:

BILL NO	A04805
SAME AS	SAME AS S02449
SPONSOR	Butler
COSPNSR	Walter
MLTSPNSR
Amd S425, RPT L
Permits a STAR exemption for property owned by a limited liability company where the limited liability company is owned by a person to whom the exemption would have otherwise been granted.

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A04805 Actions:

BILL NO	A04805
02/06/2015	referred to real property taxation
01/06/2016	referred to real property taxation
05/10/2016	held for consideration in real property taxation

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A04805 Committee Votes:

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A04805 Floor Votes:

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A04805 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          4805
 
                               2015-2016 Regular Sessions
 
                   IN ASSEMBLY
 
                                    February 6, 2015
                                       ___________
 
        Introduced by M. of A. BUTLER -- read once and referred to the Committee
          on Real Property Taxation
 
        AN ACT to amend the real property tax law, in relation to a real proper-
          ty tax exemption for property owned by a limited liability company
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Subdivision 3 of section 425 of the real property  tax  law
     2  is amended by adding a new paragraph (e-1) to read as follows:
     3    (e-1)  Dwellings  owned by a limited liability company. If legal title
     4  to a dwelling is held by a  limited  liability  company,  the  exemption
     5  shall  be granted if the property serves as the primary residence of one
     6  or more of the members of the limited liability company,  provided  that
     7  the member or members who primarily reside thereon personally pay all of
     8  the  real  property taxes and other costs associated with the property's
     9  ownership.
    10    § 2. This act shall take effect immediately.
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03598-01-5

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