S06480 Summary:

BILL NOS06480
 
SAME ASSAME AS A09498
 
SPONSORYOUNG
 
COSPNSRMARTINS
 
MLTSPNSR
 
Amd S125, Priv Hous Fin L
 
Authorizes local legislative bodies to grant additional real property tax exemptions to redevelopment company projects, which are not operated by mutual redevelopment companies.
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S06480 Actions:

BILL NOS06480
 
02/15/2012REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
03/05/20121ST REPORT CAL.272
03/06/20122ND REPORT CAL.
03/07/2012ADVANCED TO THIRD READING
04/18/2012PASSED SENATE
04/18/2012DELIVERED TO ASSEMBLY
04/18/2012referred to housing
06/19/2012substituted for a9498
06/19/2012ordered to third reading rules cal.352
06/19/2012passed assembly
06/19/2012returned to senate
08/06/2012DELIVERED TO GOVERNOR
08/17/2012SIGNED CHAP.415
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S06480 Floor Votes:

DATE:06/19/2012Assembly Vote  YEA/NAY: 143/0
Yes
Abbate
Yes
Ceretto
Yes
Glick
Yes
Lentol
Yes
Murray
Yes
Ryan
Yes
Abinanti
Yes
Clark
Yes
Goldfeder
Yes
Lifton
Yes
Nolan
Yes
Saladino
Yes
Amedore
Yes
Colton
Yes
Goodell
Yes
Linares
Yes
Oaks
Yes
Sayward
Yes
Arroyo
ER
Conte
Yes
Gottfried
Yes
Lopez PD
Yes
O'Donnell
Yes
Scarborough
Yes
Aubry
Yes
Cook
Yes
Graf
Yes
Lopez VJ
Yes
Ortiz
Yes
Schimel
Yes
Barclay
Yes
Corwin
Yes
Gunther
Yes
Losquadro
Yes
Palmesano
Yes
Schimminger
Yes
Barrett
Yes
Crespo
Yes
Hanna
Yes
Lupardo
Yes
Paulin
Yes
Simanowitz
Yes
Barron
Yes
Crouch
Yes
Hawley
Yes
Magee
Yes
Peoples Stokes
Yes
Simotas
Yes
Benedetto
Yes
Curran
Yes
Heastie
Yes
Magnarelli
Yes
Perry
Yes
Skartados
Yes
Blankenbush
Yes
Cusick
Yes
Hevesi
Yes
Maisel
Yes
Pretlow
Yes
Smardz
ER
Boyland
Yes
Cymbrowitz
Yes
Hikind
Yes
Malliotakis
Yes
Quart
Yes
Stevenson
Yes
Boyle
Yes
DenDekker
Yes
Hooper
Yes
Markey
Yes
Ra
Yes
Sweeney
Yes
Braunstein
Yes
Dinowitz
Yes
Jacobs
Yes
Mayer
Yes
Rabbitt
Yes
Tedisco
Yes
Brennan
Yes
Duprey
Yes
Jaffee
Yes
McDonough
Yes
Raia
Yes
Tenney
Yes
Brindisi
Yes
Englebright
ER
Jeffries
Yes
McEneny
Yes
Ramos
Yes
Thiele
Yes
Bronson
Yes
Espinal
Yes
Johns
Yes
McKevitt
Yes
Reilich
Yes
Titone
Yes
Brook Krasny
Yes
Farrell
Yes
Jordan
Yes
McLaughlin
Yes
Reilly
Yes
Titus
Yes
Burling
Yes
Finch
ER
Katz
ER
Meng
Yes
Rivera J
Yes
Tobacco
Yes
Butler
Yes
Fitzpatrick
Yes
Kavanagh
Yes
Miller D
Yes
Rivera N
Yes
Walter
Yes
Cahill
Yes
Friend
Yes
Kearns
Yes
Miller JM
Yes
Rivera PM
Yes
Weinstein
Yes
Calhoun
Yes
Gabryszak
Yes
Kellner
Yes
Miller MG
Yes
Roberts
Yes
Weisenberg
Yes
Camara
Yes
Galef
Yes
Kolb
Yes
Millman
Yes
Robinson
Yes
Weprin
Yes
Canestrari
Yes
Gantt
ER
Lancman
Yes
Montesano
Yes
Rodriguez
Yes
Wright
Yes
Castelli
Yes
Gibson
Yes
Latimer
Yes
Morelle
Yes
Rosenthal
Yes
Zebrowski
ER
Castro
Yes
Giglio
Yes
Lavine
Yes
Moya
Yes
Russell
Yes
Mr. Speaker

‡ Indicates voting via videoconference
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S06480 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          6480
 
                    IN SENATE
 
                                    February 15, 2012
                                       ___________
 
        Introduced  by  Sen.  YOUNG  -- read twice and ordered printed, and when
          printed to be committed to the Committee on Housing, Construction  and
          Community Development
 
        AN  ACT to amend the private housing finance law, in relation to author-
          izing the granting of an additional real property  tax  exemption  for
          certain redevelopment company projects
 

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Subdivision 1 of section 125 of the private housing finance
     2  law is amended by adding a new paragraph (a-3) to read as follows:
     3    (a-3) Any inconsistent provision of  law  notwithstanding,  the  local
     4  legislative  body  of  any  municipality  may  grant  an  additional tax
     5  exemption period for any project, other than a project by a mutual rede-
     6  velopment company, that received a tax exemption under paragraph (a)  of
     7  this  subdivision,  upon the expiration of the tax exemption period. The
     8  additional tax exemption period may be for a term  of  fifty  years,  or
     9  until  such  time  as  the  project  is  no  longer  operated  under the

    10  restrictions and for the purposes set forth in this  article,  whichever
    11  is  sooner. Unless otherwise approved by the local legislative body, the
    12  amount of taxes paid by the redevelopment company during such additional
    13  tax exemption period shall not be less  than  an  amount  equal  to  the
    14  greater  of  (i) ten percent   of the annual rent or carrying charges of
    15  the project, minus utilities for the residential portion of the project,
    16  or (ii) the taxes payable by such company for the residential portion of
    17  the project immediately prior to  the  expiration  of  the  initial  tax
    18  exemption period.
    19    § 2. This act shall take effect immediately.
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets

                              [ ] is old law to be omitted.
                                                                   LBD14426-02-2
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