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A08239 Summary:

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A08239 Committee Votes:

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A08239 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          8239
 
                               2015-2016 Regular Sessions
 
                   IN ASSEMBLY
 
                                      June 14, 2015
                                       ___________
 
        Introduced  by M. of A. PERSAUD -- read once and referred to the Commit-
          tee on Real Property Taxation
 
        AN ACT to amend the real property tax law, in relation to rehabilitation
          of certain multiple dwellings used for single room occupancy
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Subdivision  2  of section 488-a of the real property tax
     2  law, as amended by chapter 140 of the laws of 2011, is amended  to  read
     3  as follows:
     4    2.  Local  legislative action. Any city to which the multiple dwelling
     5  law is applicable, acting through its local legislative  body  or  other
     6  governing  agency, is hereby authorized and empowered to adopt and amend
     7  local laws or ordinances up to and including December thirty-first,  two
     8  thousand  [fifteen]  nineteen,  to provide that any increase in assessed
     9  valuation of eligible real property shall be exempt  from  taxation  for
    10  local  purposes  and  to  provide for the abatement of taxes on eligible
    11  real property, including the land, in accordance with this section.
    12    § 2. Paragraph (i) of subdivision 3 of section 488-a of the real prop-
    13  erty tax law, as amended by chapter 140 of the laws of 2011, is  amended
    14  to read as follows:
    15    (i) the eligible improvements are commenced after July first, nineteen
    16  hundred  eighty,  but  prior  to  December  thirty-first,  two  thousand
    17  [fifteen] nineteen,  and  are  completed  within  thirty-six  months  of
    18  commencement;
    19    § 3. This act shall take effect immediately.
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11579-01-5