S08972 Summary:

BILL NOS08972B
 
SAME ASSAME AS A09967-B
 
SPONSORVALESKY
 
COSPNSR
 
MLTSPNSR
 
Add 467-k, RPT L
 
Relates to real property tax exemptions for certain property owners who are required to participate in the federal flood insurance program because his or her real property is located in a special flood hazard area.
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S08972 Actions:

BILL NOS08972B
 
06/08/2018REFERRED TO RULES
06/14/2018AMEND AND RECOMMIT TO RULES
06/14/2018PRINT NUMBER 8972A
06/15/2018AMEND AND RECOMMIT TO RULES
06/15/2018PRINT NUMBER 8972B
06/19/2018ORDERED TO THIRD READING CAL.1984
06/19/2018PASSED SENATE
06/19/2018DELIVERED TO ASSEMBLY
06/19/2018referred to ways and means
06/20/2018substituted for a9967b
06/20/2018ordered to third reading rules cal.409
06/20/2018passed assembly
06/20/2018returned to senate
12/18/2018DELIVERED TO GOVERNOR
12/28/2018SIGNED CHAP.512
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S08972 Committee Votes:

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S08972 Floor Votes:

DATE:06/20/2018Assembly Vote  YEA/NAY: 140/3
AbbateYCookYGarbarinoYLupardoYPellegrinoYStecY
AbinantiYCrespoYGiglioYMageeYPeoples-StokesYSteckY
ArroyoYCrouchYGlickYMagnarelliYPerryYSternY
AshbyYCurranYGoodellYMalliotakisYPheffer AmatoYStirpeY
AubryYCusickYGottfriedYMcDonaldYPichardoYTagueY
BarclayYCymbrowitzYGuntherYMcDonoughYPretlowYTaylorY
BarnwellYDavilaYHawleyYMikulinYQuartYThieleY
BarrettYDe La RosaYHevesiYMill B YRaYTitoneY
BarronYDenDekkerYHikindYMill MGYRaiaYTitusY
BenedettoYDickensYHooperYMill MLYRamosYVanelY
BichotteYDilanYHunterYMontesanoNORichardsonERWalkerY
BlakeYDinowitzYHyndmanYMorelleYRiveraYWallaceY
BlankenbushYDiPietroYJaffeeYMorinelloYRodriguezYWalshY
BohenYD'UrsoYJean-PierreYMosleyYRose D YWalterY
BrabenecYEnglebrightYJenneYMurrayYRose L YWeinsteinY
BraunsteinYEpsteinERJohnsYNiouYRozicYWeprinY
BrindisiYErrigoYJonesYNolanYRyanYWilliamsY
BronsonYEspinalYJoynerYNorrisYSantabarbaraYWoernerY
BuchwaldNOFahyYKimYOaksYSchimmingerYWrightY
ButlerYFernandezYKolbYO'DonnellYSeawrightYZebrowskiY
ByrneYFinchYLalorYOrtizYSimonYMr SpkrY
CahillYFitzpatrickYLavineYOtisYSimotasY
CarrollYFriendNOLawrenceYPalmesanoYSkoufisY
CastorinaYGalefYLentolYPalumboYSmithY
ColtonYGanttERLiftonYPaulinYSolagesY

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S08972 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         8972--B
 
                    IN SENATE
 
                                      June 8, 2018
                                       ___________
 
        Introduced  by  Sen. VALESKY -- read twice and ordered printed, and when
          printed to be  committed  to  the  Committee  on  Rules  --  committee
          discharged, bill amended, ordered reprinted as amended and recommitted
          to  said  committee  --  committee  discharged,  bill amended, ordered
          reprinted as amended and recommitted to said committee
 
        AN ACT to amend the real property tax law, in relation to real  property
          tax exemptions for certain property owners who are required to partic-
          ipate in the federal flood insurance program
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. The real property tax  law  is  amended  by  adding  a  new
     2  section 467-k to read as follows:
     3    §  467-k.  Exemption  for  certain  residential  property  required to
     4  participate in the federal flood insurance program. 1. Any city  with  a
     5  population  greater  than one hundred thirty-five thousand and less than
     6  one hundred fifty-five thousand based on the  latest  federal  decennial
     7  census,  through  its governing body, may grant an exemption as provided
     8  in this section to certain one, two, or three-family residential proper-
     9  ties with a federally backed flood insurance policy through the national
    10  flood insurance program (NFIP).
    11    2. Eligibility. For a one, two, or three-family  residential  property
    12  to qualify for such exemption the following conditions must be met:
    13    (a) the property must be located in a special flood hazard area (SFHA)
    14  on  the  currently  effective  flood  insurance rate map (FIRM) or flood
    15  hazard boundary map (FHBM) identified by the federal  emergency  manage-
    16  ment agency (FEMA);
    17    (b)  the  property  must  be  located in a neighborhood revitalization
    18  strategy area as defined by the department of neighborhood and  business
    19  development  or  other  agency  as  designated  in local law, or must be
    20  owner-occupied with a household income at or below an  income  threshold
    21  established  pursuant  to  local law, provided that such threshold shall
    22  not exceed sixty-two thousand nine hundred eighty-five dollars;
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10335-06-8

        S. 8972--B                          2
 
     1    (c) the property must be insured  through  a  federally  backed  flood
     2  insurance  policy  that  covers  the  duration of the tax year for which
     3  benefits are sought; and
     4    (d)  the  property  shall not have any delinquent city taxes as of the
     5  taxable status date applicable to the tax roll on which an exemption  is
     6  applied, or as of such later date as specified by local law.
     7    3. Exemption amount. An eligible one, two, or three-family residential
     8  property shall receive an exemption of city taxes in an amount of eight-
     9  y-one  thousand  dollars provided that if as the result of a revaluation
    10  or update of assessments, and a material change in level of  assessment,
    11  as provided in title two of article twelve of this chapter, is certified
    12  for  the  assessment roll pursuant to the rules of the commissioner, the
    13  assessor shall increase or decrease the  amount  of  such  exemption  by
    14  multiplying  the  amount  of  such  exemption  by the change in level of
    15  assessment factor.
    16    4. Application. Application for such exemption must be  made  annually
    17  by  the  owner  or owners, on a form prescribed by the commissioner, and
    18  shall be filed in such assessor's office on or  before  the  appropriate
    19  taxable  status date. Such application shall require adequate proof that
    20  the property is insured by a NFIP flood insurance policy.
    21    5. Determination of eligibility and notice thereof. If satisfied  that
    22  the  applicant  is  entitled  to  receive  an exemption pursuant to this
    23  section, the assessor shall approve the application  and  such  property
    24  shall be exempt from taxation as provided in this section on the assess-
    25  ment  roll  prepared on the basis of the taxable status date referred to
    26  in subdivision four of this section. The assessed value of any exemption
    27  granted pursuant to this section shall be entered by the assessor on the
    28  assessment roll with the  taxable  property,  with  the  amount  of  the
    29  exemption shown in a separate column.
    30    6. Within thirty days following the adoption of the provisions of this
    31  section, the assessor shall mail to the owners of one, two, or three-fa-
    32  mily residential property within the designated flood zone a description
    33  of  the program, an application form, and a notice that such application
    34  must be filed on or before the taxable status  date  in  order  for  the
    35  exemption  to be granted. Upon the transfer of title of any one, two, or
    36  three-family residential property located within  the  designated  flood
    37  zone  the assessor shall mail to the owners of one, two, or three-family
    38  residential property within the designated flood zone as soon as practi-
    39  cable a description of the program, an application form  and  that  such
    40  application  must be filed on or before the taxable status date in order
    41  for the exemption to be granted.
    42    § 2. This act shall take effect immediately and shall apply to assess-
    43  ment rolls prepared on and after January 1, 2019.
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