A07150 Summary:
BILL NO | A07150 |
  | |
SAME AS | SAME AS S05096 |
  | |
SPONSOR | Gunther |
  | |
COSPNSR | Raia |
  | |
MLTSPNSR | |
  | |
  | |
Relates to changes in taxation of forest land. |
A07150 Actions:
BILL NO | A07150 | |||||||||||||||||||||||||||||||||||||||||||||||||
  | ||||||||||||||||||||||||||||||||||||||||||||||||||
04/27/2015 | referred to real property taxation | |||||||||||||||||||||||||||||||||||||||||||||||||
01/06/2016 | referred to real property taxation |
A07150 Memo:
Go to topNEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)   BILL NUMBER: A7150 SPONSOR: Gunther
  TITLE OF BILL: An act in relation to changes in taxation of forest land   PURPOSE: This bill would allow properties currently receiving a 480-a tax exemption to continue in the program as it currently exists notwith- standing any future amendments to section 480-a of the real property tax law   SUMMARY OF PROVISIONS: Section 1 states that any amendments to section 480-a of the real prop- erty tax law initiated by the Department of Environmental Conservation shall only apply to applications made on or after the effective date of this act. Section 2 sets the effective date.   JUSTIFICATION: The New York State Department of Environmental Conservation is currently in discussions to amend the 480-a forest land property tax exemption. Many commercial and residential properties have been in the existing program for decades with the understanding that the exemption agreement with the State can be renewed every ten years. However, the proposed changes would require many participants to either leave the program or take a smaller exemption with different land management requirements with significant additional expenses. This legislation would ensure that current recipients can continue to receive their existing exemption.   LEGISLATIVE HISTORY: New bill.   FISCAL IMPLICATIONS: To be determined.   EFFECTIVE DATE: This act shall take effect immediately.