S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7213
                                   I N  S E N A T E
                                      May 2, 2012
                                      ___________
       Introduced  by  Sen. MARTINS -- 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 the  eligibil-
         ity  of persons residing in property owned by a limited partnership to
         seek small claims assessment review; and to repeal  subdivision  9  of
         section 730 of the real property tax law relating thereto
         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 730 of the real property tax  law
    2  is amended by adding a new closing paragraph to read as follows:
    3    AN  OWNER  OF REAL PROPERTY WHO QUALIFIES UNDER PARAGRAPHS (A) THROUGH
    4  (D) OF THIS SUBDIVISION SHALL ALSO INCLUDE:
    5    (I) A PERSON OR PERSONS WHOSE REAL PROPERTY IS HELD  IN  TRUST  SOLELY
    6  FOR  THE BENEFIT OF SUCH PERSON OR PERSONS IF THE PROPERTY SERVES AS THE
    7  PRIMARY RESIDENCE OF SUCH PERSON OR PERSONS AND THE  TRUST  WHICH  HOLDS
    8  TITLE  TO  THE  PROPERTY  WAS  LAWFULLY CREATED TO HOLD TITLE SOLELY FOR
    9  ESTATE PLANNING AND ASSET PROTECTION PURPOSES; AND
   10    (II) A PERSON OR PERSONS WHO RESIDE IN REAL PROPERTY WHICH IS OWNED BY
   11  A LIMITED PARTNERSHIP IF THE PROPERTY SERVES AS THE PRIMARY RESIDENCE OF
   12  SUCH PERSON OR PERSONS AND SAID LIMITED PARTNERSHIP DOES NOT  ENGAGE  IN
   13  ANY  COMMERCIAL  ACTIVITY, WAS LAWFULLY CREATED TO HOLD TITLE SOLELY FOR
   14  ESTATE PLANNING AND ASSET PROTECTION PURPOSES AND THE PARTNER  OR  PART-
   15  NERS WHO PRIMARILY RESIDE THEREON PERSONALLY PAY ALL OF THE REAL PROPER-
   16  TY TAXES AND OTHER COSTS ASSOCIATED WITH THE PROPERTY'S OWNERSHIP.
   17    S  2.  Subdivision  9  of  section 730 of the real property tax law is
   18  REPEALED.
   19    S 3. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD06580-01-1