Relates to the redemption of real property subject to a delinquent tax lien.
STATE OF NEW YORK ________________________________________________________________________ 7556 2015-2016 Regular Sessions IN ASSEMBLY May 19, 2015 ___________Introduced by M. of A. McDONALD -- read once and referred to the Commit- tee on Real Property Taxation AN ACT to amend the real property tax law, in relation to the redemption of real property subject to a delinquent tax lien THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 1120 of the real property tax law is amended by adding a new subdivision 2-a to read as follows: 2-A. FOR REAL PROPERTY THAT HAS BEEN CERTIFIED ABANDONED PURSUANT TO SECTION NINETEEN HUNDRED SEVENTY-ONE OF THE REAL PROPERTY ACTIONS AND PROCEEDINGS LAW, THE REDEMPTION PERIOD SHALL EXPIRE ONE YEAR AFTER LIEN DATE. NOTWITHSTANDING THE FOREGOING, IF THE NOTICE PUBLISHED PURSUANT TO SECTION ELEVEN HUNDRED TWENTY-FOUR OF THIS TITLE SPECIFIES A LATER DATE FOR THE EXPIRATION OF THE REDEMPTION PERIOD, THE REDEMPTION PERIOD SHALL EXPIRE ON THE DATE SO SPECIFIED. S 2. This act shall take effect immediately.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10918-01-5