A07297 Summary:

BILL NOA07297
 
SAME ASSAME AS S03274
 
SPONSORCusick
 
COSPNSR
 
MLTSPNSR
 
Amd 3-b, Gen Muni L
 
Relates to the exclusion of uncollectible taxes from the limitation on real estate taxes in New York City.
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A07297 Actions:

BILL NOA07297
 
04/22/2019referred to cities
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A07297 Committee Votes:

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A07297 Floor Votes:

There are no votes for this bill in this legislative session.
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A07297 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7297
 
                               2019-2020 Regular Sessions
 
                   IN ASSEMBLY
 
                                     April 22, 2019
                                       ___________
 
        Introduced by M. of A. CUSICK -- read once and referred to the Committee
          on Cities
 
        AN  ACT to amend the general municipal law, in relation to the exclusion
          of uncollectible taxes from the limitation on real estate taxes in New
          York city
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Section  3-b  of  the general municipal law is amended by
     2  adding three new subdivisions 3, 4 and 5 to read as follows:
     3    3. The amount to be raised by tax on real estate in  any  fiscal  year
     4  commencing  on or after July first, two thousand nineteen by the city of
     5  New York  and  the  counties  contained  therein  for  city  and  county
     6  purposes, in addition to providing for the interest on and the principal
     7  of  all indebtedness described in subdivision one of this section, shall
     8  only include an additional amount for a reserve for those  taxes,  which
     9  it estimates in each budget year in good faith will be uncollectible for
    10  the  payment of such indebtedness, minus any amount collected during the
    11  fiscal year by the city of New York from prior levies including by  real
    12  property tax lien sales.
    13    4.  For  purposes of this section, the term "uncollectible" shall mean
    14  an estimate of the amount that taxpayers do not pay because they  cannot
    15  pay or because they choose not to pay.
    16    5.  The  reserve which the city of New York and the counties contained
    17  therein estimates shall be uncollectible for the payment of such indebt-
    18  edness shall not include any abatement or exemption  amounts  including,
    19  but  not  limited  to,  those  abatement amounts as authorized by:   (a)
    20  section four hundred sixty-seven-a of the real  property  tax  law;  (b)
    21  section  four  hundred  sixty-seven-b  of the real property tax law; (c)
    22  section four hundred sixty-seven-c of the real  property  tax  law;  (d)
    23  section  four  hundred  sixty-seven-f  of the real property tax law; (e)
    24  section four hundred sixty-seven-h of the real  property  tax  law;  (f)
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07441-01-9

        A. 7297                             2
 
     1  section  four  hundred  sixty-seven-i  of the real property tax law; (g)
     2  section four hundred eighty-nine of  the  real  property  tax  law;  (h)
     3  section  four  hundred  ninety-nine-b  of the real property tax law; (i)
     4  section  sixty-five  of  chapter  twenty  of  the  laws  of two thousand
     5  fifteen, or any other statute authorizing the abatement or exemption  of
     6  real property taxes.
     7    § 2. This act shall take effect immediately.
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