New York State Assembly

 
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A08156 Summary:

A08156 Actions:

A08156 Committee Votes:

Committee:REAL PROPERTY TAXATION   Chair:Galef      
DATE:06/06/2016AYE/NAY:10/0  Action: Favorable refer to committee Ways and Means        
Galef
Aye
Lalor
Aye
Dinowitz
Aye
Palmesano
Aye
Robinson
Aye
Gunther
Aye
McDonald
Aye
Gjonaj
Aye
Pichardo
Aye
Buchwald
Aye

Committee:WAYS AND MEANS   Chair:Farrell      
DATE:06/14/2016AYE/NAY:29/0  Action: Favorable refer to committee Rules        
Farrell
Aye
Oaks
Aye
Lentol
Aye
Crouch
Aye
Schimminger
Aye
Barclay
Aye
Gantt
Aye
Fitzpatrick
Aye
Weinstein
Aye
Saladino
Excused
Glick
Aye
Hawley
Aye
Nolan
Aye
Duprey
Aye
Pretlow
Aye
Corwin
Aye
Perry
Aye
Malliotakis
Aye
Colton
Excused
Walter
Excused
Cook
Aye
Cahill
Aye
Aubry
Aye
Hooper
Aye
Thiele
Aye
Wright
Excused
Cusick
Aye
Ortiz
Aye
Benedetto
Aye
Markey
Aye
Moya
Aye
Weprin
Excused
Rodriguez
Excused
Ramos
Aye
Braunstein
Aye

Committee:RULES   Chair:Heastie      
DATE:06/14/2016AYE/NAY:27/0  Action: Favorable         
Heastie
Aye
Kolb
Aye
Gottfried
Aye
Tedisco
Aye
Lentol
Aye
Oaks
Aye
Farrell
Aye
Butler
Aye
Gantt
Aye
Crouch
Aye
Nolan
Aye
Finch
Excused
Weinstein
Aye
Barclay
Aye
Hooper
Aye
Raia
Aye
Ortiz
Aye
Duprey
Aye
Pretlow
Aye
Cook
Aye
Glick
Aye
Morelle
Aye
Aubry
Aye
Englebright
Aye
Wright
Excused
Dinowitz
Excused
Colton
Aye
Magnarelli
Aye
Perry
Aye
Markey
Aye

A08156 Floor Votes:

A08156 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         8156--B
 
                               2015-2016 Regular Sessions
 
                   IN ASSEMBLY
 
                                      June 10, 2015
                                       ___________
 
        Introduced  by  M. of A. PEOPLES-STOKES -- read once and referred to the
          Committee on Real Property Taxation -- recommitted to the Committee on
          Real Property Taxation in accordance with Assembly Rule 3, sec.  2  --
          committee  discharged,  bill amended, ordered reprinted as amended and
          recommitted to said committee -- again reported  from  said  committee
          with  amendments, ordered reprinted as amended and recommitted to said
          committee
 
        AN ACT to amend the  not-for-profit  corporation  law,  in  relation  to
          assignment of rights by a land bank
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Paragraph (i) of section 1616 of the not-for-profit  corpo-
     2  ration law, as amended by chapter 372 of the laws of 2013, is amended to
     3  read as follows:
     4    (i) Notwithstanding any other provision of law to the contrary, in the
     5  event  that  no  municipality  elects  to  tender a bid at a public sale
     6  pursuant to the provisions of section eleven hundred  sixty-six  of  the
     7  real  property  tax  law  or sale pursuant to the provisions of a county
     8  charter, city charter, administrative code, or special law when applica-
     9  ble under section eleven hundred four of the real property tax law,  the
    10  land  bank may tender a bid at such sale in an amount equal to the total
    11  amount of all municipal claims and liens which were the  basis  for  the
    12  judgment.  In  the  event  of  such tender by the land bank the property
    13  shall be deemed sold to the land bank regardless  of  any  bids  by  any
    14  other  third  parties.  The bid of the land bank shall be paid as to its
    15  form, substance, and timing according to such agreement as  is  mutually
    16  acceptable  to  the  plaintiff  and the land bank. The obligation of the
    17  land bank to perform in accordance with such agreement shall  be  deemed
    18  to  be  in  full satisfaction of the municipal claim which was the basis
    19  for the judgment. The land bank, as purchaser at  such  public  sale  or
    20  sale  pursuant  to  the  provisions  of  a county charter, city charter,

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11554-04-6
        A. 8156--B                          2
 
     1  administrative code, or special law when applicable under section eleven
     2  hundred four of the real property tax law, shall take and forever there-
     3  after have, an absolute title to the property sold, free and  discharged
     4  of  all  tax and municipal claims, liens, mortgages, charges and estates
     5  of whatsoever kind. The  deed  to  the  land  bank  shall  be  executed,
     6  acknowledged and delivered within thirty days of the sale.  Alternative-
     7  ly,  the  land bank can assign all rights resulting from the land bank's
     8  successful tender for the property to the foreclosing governmental unit,
     9  which would allow the property to be deeded directly to the  foreclosing
    10  governmental unit. All land bank acquisitions pursuant to this paragraph
    11  shall  comply with section sixteen hundred eight of this article and all
    12  dispositions of property  acquired  pursuant  to  this  paragraph  shall
    13  comply with section sixteen hundred nine of this article.
    14    § 2. This act shall take effect immediately.