A10512 Summary:

BILL NOA10512A
 
SAME ASSAME AS S08088
 
SPONSORFarrell
 
COSPNSR
 
MLTSPNSR
 
Amd §11-2106, NYC Ad Cd
 
Relates to the taxation of the transfer of real property to any housing development fund company or an entity of which a controlling interest is held by such company and such real property is subject to a certain regulatory agreement or restrictive covenant.
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A10512 Actions:

BILL NOA10512A
 
05/31/2016referred to ways and means
06/10/2016amend and recommit to ways and means
06/10/2016print number 10512a
06/14/2016reported referred to rules
06/14/2016reported
06/14/2016rules report cal.375
06/14/2016ordered to third reading rules cal.375
06/15/2016passed assembly
06/15/2016delivered to senate
06/15/2016REFERRED TO RULES
06/16/2016SUBSTITUTED FOR S8088
06/16/20163RD READING CAL.1951
06/16/2016PASSED SENATE
06/16/2016RETURNED TO ASSEMBLY
08/08/2016delivered to governor
08/19/2016signed chap.264
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A10512 Committee Votes:

WAYS AND MEANS Chair:Farrell DATE:06/14/2016AYE/NAY:29/0 Action: Favorable refer to committee Rules
FarrellAyeOaksAye
LentolAyeCrouchAye
SchimmingerAyeBarclayAye
GanttAyeFitzpatrickAye
WeinsteinAyeSaladinoExcused
GlickAyeHawleyAye
NolanAyeDupreyAye
PretlowAyeCorwinAye
PerryAyeMalliotakisAye
ColtonExcusedWalterExcused
CookAye
CahillAye
AubryAye
HooperAye
ThieleAye
WrightExcused
CusickAye
OrtizAye
BenedettoAye
MarkeyAye
MoyaAye
WeprinExcused
RodriguezExcused
RamosAye
BraunsteinAye

RULES Chair:Heastie DATE:06/14/2016AYE/NAY:27/0 Action: Favorable
HeastieAyeKolbAye
GottfriedAyeTediscoAye
LentolAyeOaksAye
FarrellAyeButlerAye
GanttAyeCrouchAye
NolanAyeFinchExcused
WeinsteinAyeBarclayAye
HooperAyeRaiaAye
OrtizAyeDupreyAye
PretlowAye
CookAye
GlickAye
MorelleAye
AubryAye
EnglebrightAye
WrightExcused
DinowitzExcused
ColtonAye
MagnarelliAye
PerryAye
MarkeyAye

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A10512 Floor Votes:

DATE:06/15/2016Assembly Vote  YEA/NAY: 141/2
Yes
Abbate
Yes
Crespo
Yes
Gottfried
Yes
Lopez
Yes
Palumbo
Yes
Simon
Yes
Abinanti
Yes
Crouch
Yes
Graf
Yes
Lupardo
Yes
Paulin
Yes
Simotas
Yes
Arroyo
Yes
Curran
Yes
Gunther
Yes
Lupinacci
Yes
Peoples-Stokes
Yes
Skartados
Yes
Aubry
Yes
Cusick
Yes
Harris
Yes
Magee
Yes
Perry
Yes
Skoufis
Yes
Barclay
Yes
Cymbrowitz
Yes
Hawley
Yes
Magnarelli
Yes
Pichardo
Yes
Solages
Yes
Barrett
Yes
Davila
Yes
Hevesi
Yes
Malliotakis
Yes
Pretlow
Yes
Stec
No
Barron
Yes
DenDekker
Yes
Hikind
Yes
Markey
Yes
Quart
Yes
Steck
Yes
Benedetto
Yes
Dilan
Yes
Hooper
Yes
Mayer
Yes
Ra
Yes
Stirpe
Yes
Bichotte
Yes
Dinowitz
Yes
Hunter
Yes
McDonald
Yes
Raia
Yes
Tedisco
Yes
Blake
ER
DiPietro
Yes
Hyndman
Yes
McDonough
Yes
Ramos
Yes
Tenney
Yes
Blankenbush
Yes
Duprey
Yes
Jaffee
Yes
McKevitt
Yes
Richardson
Yes
Thiele
Yes
Brabenec
Yes
Englebright
Yes
Jean-Pierre
Yes
McLaughlin
Yes
Rivera
Yes
Titone
Yes
Braunstein
Yes
Fahy
Yes
Johns
Yes
Miller
Yes
Robinson
Yes
Titus
ER
Brennan
Yes
Farrell
Yes
Joyner
Yes
Montesano
Yes
Rodriguez
Yes
Walker
Yes
Brindisi
ER
Finch
Yes
Katz
Yes
Morelle
Yes
Rosenthal
Yes
Walter
Yes
Bronson
Yes
Fitzpatrick
Yes
Kavanagh
Yes
Mosley
Yes
Rozic
Yes
Weinstein
No
Buchwald
Yes
Friend
Yes
Kearns
Yes
Moya
Yes
Russell
Yes
Weprin
Yes
Butler
Yes
Galef
ER
Kim
Yes
Murray
Yes
Ryan
Yes
Williams
Yes
Cahill
Yes
Gantt
Yes
Kolb
Yes
Nojay
Yes
Saladino
Yes
Woerner
Yes
Cancel
Yes
Garbarino
Yes
Lalor
Yes
Nolan
Yes
Santabarbara
Yes
Wozniak
Yes
Castorina
Yes
Giglio
Yes
Lavine
Yes
Oaks
Yes
Schimel
Yes
Wright
Yes
Ceretto
Yes
Gjonaj
Yes
Lawrence
Yes
O'Donnell
Yes
Schimminger
Yes
Zebrowski
Yes
Colton
Yes
Glick
Yes
Lentol
Yes
Ortiz
Yes
Seawright
Yes
Mr. Speaker
Yes
Cook
Yes
Goldfeder
Yes
Lifton
Yes
Otis
ER
Sepulveda
Yes
Corwin
Yes
Goodell
Yes
Linares
Yes
Palmesano
Yes
Simanowitz

‡ Indicates voting via videoconference
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A10512 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                        10512--A
 
                   IN ASSEMBLY
 
                                      May 31, 2016
                                       ___________
 
        Introduced  by M. of A. FARRELL -- read once and referred to the Commit-
          tee on Ways and Means -- committee discharged, bill  amended,  ordered
          reprinted as amended and recommitted to said committee
 
        AN  ACT  to  amend  the  administrative code of the city of New York, in
          relation to the taxation of the transfer of real property

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section 1. Subdivision b of section 11-2106 of the administrative code
     2  of  the  city of New York is amended by adding a new paragraph 9 to read
     3  as follows:
     4    9. A deed, instrument or transaction conveying  or  transferring  real
     5  property  or  an economic interest therein by or to any housing develop-
     6  ment fund company organized pursuant to article eleven  of  the  private
     7  housing  finance  law or to an entity, the controlling interest of which
     8  is held by such a company, if at the time of such conveyance  or  trans-
     9  fer,  such  real  property  is  subject  to, or simultaneously with such
    10  conveyance or transfer is made subject to, a regulatory  agreement  with
    11  the  state  of  New  York,  a  municipal corporation or any other public
    12  corporation created by or pursuant to any law of the state of  New  York
    13  that:  encumbers  the  real  property for thirty years or more, requires
    14  mutual consent for revocation or amendment, restricts  more  than  fifty
    15  percent  of the floor area, other than common areas, to residential real
    16  property, and restricts at least sixty-six  and  two-thirds  percent  of
    17  such  residential real property to purchase, lease, license or other use
    18  by persons of low income and families of low income within  the  meaning
    19  of  section  two  of the private housing finance law; provided, however,
    20  that if such  regulatory  agreement  restricts  less  than  one  hundred
    21  percent  of the floor area, other than common areas, to purchase, lease,
    22  license or other use by persons of low income and families of low income
    23  within the meaning of section two of the private  housing  finance  law,
    24  the tax shall apply to the consideration less the product of the consid-
    25  eration  and  a  fraction, the numerator of which is the floor area that
    26  such regulatory agreement restricts to purchase, lease, license or other
    27  use by persons of low income and families of low income within the mean-
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15655-02-6

        A. 10512--A                         2
 
     1  ing of section two of the private housing finance law and the  denomina-
     2  tor  of  which  is the entire floor area, minus the floor area of common
     3  areas; provided further, that if such real property is made subject to a
     4  regulatory  agreement  that meets the terms of this paragraph within two
     5  years of the conveyance or transfer then the commissioner of finance may
     6  issue a refund based on the application of this  paragraph  pursuant  to
     7  the provisions of section 11-2108 of this chapter, treating the transfer
     8  or  conveyance  as if such real property were subject to such regulatory
     9  agreement as of the date of such transfer or  conveyance,  if,  notwith-
    10  standing  any other time limitation set forth in section 11-2108 of this
    11  chapter, application to the commissioner of finance for such  refund  is
    12  made  within  twelve  months  of  the  effective date of such regulatory
    13  agreement.
    14    § 2. This act shall take effect immediately and shall  be  retroactive
    15  to, and be deemed to apply to, all conveyances or transfers occurring on
    16  or after January 1, 2010.
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