Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Oct 23, 2013 |
signed chap.441 |
Oct 11, 2013 |
delivered to governor |
Jun 11, 2013 |
returned to assembly passed senate 3rd reading cal.1050 substituted for s4022 |
May 30, 2013 |
referred to local government delivered to senate passed assembly |
May 23, 2013 |
advanced to third reading cal.416 |
May 22, 2013 |
reported |
May 07, 2013 |
reported referred to ways and means |
Mar 06, 2013 |
referred to real property taxation |
Assembly Bill A5743
Signed By Governor2013-2014 Legislative Session
Sponsored By
MAGNARELLI
Archive: Last Bill Status - Signed by Governor
- 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
Actions
Votes
2013-A5743 (ACTIVE) - Details
- See Senate Version of this Bill:
- S4022
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Rpld §485-m, add §485-o, RPT L
2013-A5743 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5743 2013-2014 Regular Sessions I N A S S E M B L Y March 6, 2013 ___________ Introduced by M. of A. MAGNARELLI -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to establishing a new residential property exemption in certain cities; and to repeal section 485-m 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: Section 1. Section 485-m of the real property tax law, as added by chapter 370 of the laws of 2008 is REPEALED and a new section 485-o is added to read as follows: S 485-O. NEW RESIDENTIAL PROPERTY EXEMPTION; CERTAIN CITIES. 1. CONSTRUCTION OF QUALIFIED NEW RESIDENTIAL STRUCTURES OR TOTAL REHABILI- TATION OF QUALIFIED VACANT RESIDENTIAL STRUCTURES DETERMINED TO BE UNOC- CUPIED HAZARDS INITIATED ON OR AFTER THE FIRST DAY OF JANUARY, TWO THOU- SAND THIRTEEN IN CITIES WITH A POPULATION OF NOT LESS THAN ONE HUNDRED THIRTY THOUSAND AND NOT MORE THAN ONE HUNDRED SIXTY THOUSAND, BASED UPON THE TWO THOUSAND TEN FEDERAL CENSUS MAY BE EXEMPT FROM CITY AND SCHOOL TAXATION AS PROVIDED IN THIS SECTION. 2. (A) (I) SUCH QUALIFIED RESIDENTIAL REAL PROPERTY SHALL BE EXEMPT IN ACCORDANCE WITH THE APPLICABLE EXEMPTION SCHEDULES SET FORTH IN THIS SUBPARAGRAPH AND SUCH EXEMPTION SHALL BE COMPUTED WITH RESPECT TO THE "EXEMPTION BASE". THE EXEMPTION BASE SHALL BE THE INCREASE IN THE ASSESSED VALUE DUE TO QUALIFIED IMPROVEMENTS AS DETERMINED IN THE INITIAL YEAR OF THE APPLICABLE EXEMPTION PRICE FOLLOWING THE FILING OF AN ORIGINAL APPLICATION, PROVIDED THAT THE APPLICATION RELATIVE TO THE REHABILITATION OF A QUALIFIED VACANT RESIDENTIAL STRUCTURE DETERMINED TO BE AN UNOCCUPIED HAZARD SHALL BE PRE-APPROVED BY THE CITY AS PROVIDED IN THIS SECTION. (II) CONSTRUCTION OF QUALIFIED LEED CERTIFIED NEW RESIDENTIAL STRUCTURES EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07647-02-3
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