New York State Assembly

Bill No.:  

 
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S07663 Summary:

BILL NO	S07663
SAME AS	No Same As
SPONSOR	JACKSON
COSPNSR
MLTSPNSR
Amd §581, RPT L
Exempts real property owned or leased by a cooperative corporation or on a condominium basis located in a city with a population of one million or more from certain assessment provisions.

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S07663 Actions:

BILL NO	S07663
02/04/2020	REFERRED TO LOCAL GOVERNMENT

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S07663 Committee Votes:

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S07663 Floor Votes:

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S07663 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7663
 
                    IN SENATE
 
                                    February 4, 2020
                                       ___________
 
        Introduced  by  Sen. JACKSON -- read twice and ordered printed, and when
          printed to be committed to the Committee on Local Government
 
        AN ACT to amend the real property tax  law,  in  relation  to  exempting
          certain  real property owned or leased by a cooperative corporation or
          on a condominium basis from certain assessment provisions

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Section  581  of  the real property tax law is amended by
     2  adding a new subdivision 5 to read as follows:
     3    5. Notwithstanding any provision of law to the contrary, real property
     4  owned or leased by a cooperative corporation or on a  condominium  basis
     5  located  in a city with a population of one million or more shall not be
     6  subject to the provisions of this section.
     7    § 2. This act shall take effect immediately and shall apply to assess-
     8  ment rolls prepared on the basis of taxable status dates occurring on or
     9  after such effective date.
 
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15132-01-0

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