Assembly Bill A52

2015-2016 Legislative Session

Relates to limited-profit housing companies and tax exemptions

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-A52 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
Private Housing Finance Law
Laws Affected:
Amd §33, Priv Hous Fin L; amd §§458-a & 467, RPT L; amd §11-245.4, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2013-2014: A9306
2017-2018: A1180, A9757

2015-A52 (ACTIVE) - Summary

Relates to limited-profit housing companies and tax exemptions.

2015-A52 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   52

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced  by  M.  of  A.  SIMANOWITZ  -- read once and referred to the
  Committee on Real Property Taxation

AN ACT to amend the private housing finance law, the real  property  tax
  law  and  the administrative code of the city of New York, in relation
  to limited-profit housing companies and tax exemptions

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 33 of the private housing finance law is amended by
adding a new subdivision 7 to read as follows:
  7.  NOTHING  CONTAINED  IN THIS SECTION SHALL BE CONSTRUED TO LIMIT OR
OTHERWISE IMPAIR THE BENEFITS  AVAILABLE  TO  ANY  COMPANY  OR  RESIDENT
ELIGIBLE  FOR  EXEMPTION FROM TAXATION PURSUANT TO SECTIONS FOUR HUNDRED
TWENTY-FIVE, FOUR HUNDRED FIFTY-EIGHT, FOUR HUNDRED FIFTY-NINE AND  FOUR
HUNDRED SIXTY-SEVEN OF THE REAL PROPERTY TAX LAW.
  S 2. Paragraph (c) of subdivision 6 of section 458-a of the real prop-
erty tax law, as added by chapter 171 of the laws of 1997, is amended to
read as follows:
  (c)  [Notwithstanding  paragraph (b) of this subdivision, a] A tenant-
stockholder who resides in a dwelling that is subject to the  provisions
of  either  article  two,  four,  five  or eleven of the private housing
finance law shall [not] be eligible for an exemption  pursuant  to  this
section.
  S 3. Paragraph (c) of subdivision 3-a of section 467 of the real prop-
erty  tax  law, as amended by chapter 49 of the laws of 1996, is amended
to read as follows:
  (c) Real property may be exempt from taxation pursuant to this  subdi-
vision  by  a municipality in which such property is located only if the
governing board of such municipality, after  public  hearing,  adopts  a
local law, ordinance or resolution providing therefor.  [Notwithstanding
any  provision  of law to the contrary, any] ANY local law, ordinance or

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

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