New York State Assembly

Bill No.:  

 
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A08140 Summary:

BILL NO	A08140
SAME AS	No same as
SPONSOR	Hanna
COSPNSR	Tenney, Goodell
MLTSPNSR
Amd S722, RPT L
Provides that if an assessment is challenged and ultimately reduced, the petitioner is entitled to interest on the refunded amount.

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A08140 Actions:

BILL NO	A08140
06/02/2011	referred to real property taxation
01/04/2012	referred to real property taxation

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A08140 Floor Votes:

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A08140 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          8140
 
                               2011-2012 Regular Sessions
 
                   IN ASSEMBLY
 
                                      June 2, 2011
                                       ___________
 
        Introduced  by M. of A. HANNA -- read once and referred to the Committee
          on Real Property Taxation
 
        AN ACT to amend the real property tax law, in relation to  allowing  for
          interest on the amount refunded after a reduced assessment
 
          The  People of the State of New York, represented in Senate and Assem-

        bly, do enact as follows:
 
     1    Section 1. Section 722 of the real property  tax  law  is  amended  by
     2  adding a new subdivision 3 to read as follows:
     3    3.  If  an  assessment is challenged and ultimately reduced, the peti-
     4  tioner shall be entitled to interest on any amount refunded at an annual
     5  interest rate equal to that charged  by  the  refunding  unit  for  late
     6  payment of real property taxes.
     7    § 2. This act shall take effect immediately.
 
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11768-01-1

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