STATE OF NEW YORK
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6719
2011-2012 Regular Sessions
IN ASSEMBLY
March 25, 2011
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Introduced by M. of A. MAGNARELLI -- read once and referred to the
Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to payments of
taxes in installments in certain school districts
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 1 of section 1326-a of the real property tax
2 law, as amended by chapter 665 of the laws of 1997, is amended to read
3 as follows:
4 1. Notwithstanding any provisions of this chapter or any other general
5 or special law to the contrary, a school district may, by resolution
6 adopted by a two-thirds vote prior to the levy of taxes in any year,
7 [provided] provide that thereafter and until such resolution is rescind-
8 ed, every tax in excess of fifty dollars levied by the board pursuant to
9 law may be paid in three installments, the first of which shall be at
10 least fifty percent of the total tax due, or such other amount as may be
11 prescribed by such resolution, and shall be paid not later than the last
12 day of the one month collection period prescribed by subdivision one of
13 section thirteen hundred twenty-two or section thirteen hundred twenty-
14 four of this article and, provided the first installment has been paid,
15 the second shall be at least fifty percent of the remainder, or such
16 other amount as may be prescribed by such resolution, plus interest at
17 the rate as determined pursuant to section nine hundred twenty-four-a of
18 this chapter, and shall be paid on or before the date specified in the
19 resolution for the second payment, and the third shall be the remainder
20 plus interest at the rate determined pursuant to section nine hundred
21 twenty-four-a of this chapter and shall be paid on or before the date
22 specified in the resolution for the expiration of the warrant.
23 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD03777-01-1
