STATE OF NEW YORK
________________________________________________________________________
5349
2019-2020 Regular Sessions
IN ASSEMBLY
February 11, 2019
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Introduced by M. of A. DiPIETRO -- read once and referred to the Commit-
tee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to establishing a
reduction in the assessed value of lands burdened by certain conserva-
tion easements
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 533-a to read as follows:
3 § 533-a. Assessment of conservation easements conveyed to certain
4 organizations. Notwithstanding the provisions of section five hundred
5 thirty-three of this title, upon conveyance of a conservation easement
6 to a not-for-profit conservation organization, the assessed value of the
7 interest in each subject parcel retained by the grantor of such easement
8 shall be modified to effect the change, if any, in the value of the
9 lands subject to such conservation easement.
10 § 2. This act shall take effect on the thirtieth day after it shall
11 have become a law and shall apply to the conveyance of conservation
12 easements on or after such date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD07610-01-9
