Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Oct 21, 2014 |
approval memo.6 signed chap.405 |
Oct 09, 2014 |
delivered to governor |
Jun 11, 2014 |
returned to assembly passed senate 3rd reading cal.885 substituted for s5991a |
Jun 09, 2014 |
referred to local government delivered to senate passed assembly |
May 30, 2014 |
advanced to third reading cal.821 |
May 27, 2014 |
reported |
May 13, 2014 |
reported referred to ways and means |
Apr 24, 2014 |
print number 8324a |
Apr 24, 2014 |
amend and recommit to real property taxation |
Jan 08, 2014 |
referred to real property taxation |
Dec 18, 2013 |
referred to real property taxation |
Assembly Bill A8324A
Signed By Governor2013-2014 Legislative Session
Sponsored By
MAGEE
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
Bill Amendments
2013-A8324 - Details
- See Senate Version of this Bill:
- S5991
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Add §485-q, RPT L
2013-A8324 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8324 2013-2014 Regular Sessions I N A S S E M B L Y December 18, 2013 ___________ Introduced by M. of A. MAGEE -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to a residential investment exemption in certain cities THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The real property tax law is amended by adding a new section 485-q to read as follows: S 485-Q. RESIDENTIAL INVESTMENT EXEMPTION; CERTAIN CITIES. 1. RESI- DENTIAL REAL PROPERTY CONSTRUCTED ON OR AFTER THE FIRST DAY OF JULY, TWO THOUSAND FOURTEEN IN CITIES WITH A POPULATION OF NOT LESS THAN TEN THOU- SAND AND NOT MORE THAN TWENTY THOUSAND MAY BE EXEMPT FROM CITY TAXATION AND SPECIAL AD VALOREM LEVIES AS PROVIDED IN THIS SECTION. 2. (A) (I) SUCH REAL PROPERTY SHALL BE EXEMPT FOR A PERIOD OF ONE YEAR TO THE EXTENT OF FIFTY PER CENTUM OF THE INCREASE IN ASSESSED VALUE THEREOF ATTRIBUTABLE TO SUCH CONSTRUCTION AND FOR AN ADDITIONAL PERIOD OF NINE YEARS PROVIDED, HOWEVER, THAT THE EXTENT OF SUCH EXEMPTION SHALL BE DECREASED BY FIVE PER CENTUM EACH YEAR DURING SUCH ADDITIONAL PERIOD OF NINE YEARS AND SUCH EXEMPTION SHALL BE COMPUTED WITH RESPECT TO THE "EXEMPTION BASE". THE EXEMPTION BASE SHALL BE THE INCREASE IN ASSESSED VALUE AS DETERMINED IN THE INITIAL YEAR OF SUCH TEN YEAR PERIOD FOLLOW- ING THE FILING OF AN ORIGINAL APPLICATION, EXCEPT AS PROVIDED IN SUBPAR- AGRAPH (II) OF THIS PARAGRAPH. (II) IN ANY YEAR IN WHICH A CHANGE IN LEVEL OF ASSESSMENT OF FIFTEEN PERCENT OR MORE IS CERTIFIED FOR A FINAL ASSESSMENT ROLL PURSUANT TO THE RULES OF THE COMMISSIONER, THE EXEMPTION BASE SHALL BE MULTIPLIED BY A FRACTION, THE NUMERATOR OF WHICH SHALL BE THE TOTAL ASSESSED VALUE OF THE PARCEL ON SUCH FINAL ASSESSMENT ROLL (AFTER ACCOUNTING FOR ANY PHYS- ICAL OR QUANTITY CHANGES TO THE PARCEL SINCE THE IMMEDIATELY PRECEDING ASSESSMENT ROLL), AND THE DENOMINATOR OF WHICH SHALL BE THE TOTAL ASSESSED VALUE OF THE PARCEL ON THE IMMEDIATELY PRECEDING FINAL ASSESS- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11994-02-3
2013-A8324A (ACTIVE) - Details
- See Senate Version of this Bill:
- S5991
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Add §485-q, RPT L
2013-A8324A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8324--A 2013-2014 Regular Sessions I N A S S E M B L Y December 18, 2013 ___________ Introduced by M. of A. MAGEE -- read once and referred to the Committee on Real Property Taxation -- recommitted to the Committee on Real Property Taxation in accordance with Assembly Rule 3, sec. 2 -- 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 a residential investment exemption in certain cities THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The real property tax law is amended by adding a new section 485-q to read as follows: S 485-Q. RESIDENTIAL INVESTMENT EXEMPTION; CERTAIN CITIES. 1. RESI- DENTIAL REAL PROPERTY CONSTRUCTED ON OR AFTER THE FIRST DAY OF JULY, TWO THOUSAND FOURTEEN IN CITIES WITH A POPULATION OF NOT LESS THAN THIRTEEN THOUSAND FIVE HUNDRED AND NOT MORE THAN FOURTEEN THOUSAND MAY BE EXEMPT FROM CITY TAXATION AND SPECIAL AD VALOREM LEVIES AS PROVIDED IN THIS SECTION. 2. (A) (I) SUCH REAL PROPERTY SHALL BE EXEMPT FOR A PERIOD OF ONE YEAR TO THE EXTENT OF FIFTY PER CENTUM OF THE INCREASE IN ASSESSED VALUE THEREOF ATTRIBUTABLE TO SUCH CONSTRUCTION AND FOR AN ADDITIONAL PERIOD OF NINE YEARS PROVIDED, HOWEVER, THAT THE EXTENT OF SUCH EXEMPTION SHALL BE DECREASED BY FIVE PER CENTUM EACH YEAR DURING SUCH ADDITIONAL PERIOD OF NINE YEARS AND SUCH EXEMPTION SHALL BE COMPUTED WITH RESPECT TO THE "EXEMPTION BASE". THE EXEMPTION BASE SHALL BE THE INCREASE IN ASSESSED VALUE AS DETERMINED IN THE INITIAL YEAR OF SUCH TEN YEAR PERIOD FOLLOW- ING THE FILING OF AN ORIGINAL APPLICATION, EXCEPT AS PROVIDED IN SUBPAR- AGRAPH (II) OF THIS PARAGRAPH. (II) IN ANY YEAR IN WHICH A CHANGE IN LEVEL OF ASSESSMENT OF FIFTEEN PERCENT OR MORE IS CERTIFIED FOR A FINAL ASSESSMENT ROLL PURSUANT TO THE RULES OF THE COMMISSIONER, THE EXEMPTION BASE SHALL BE MULTIPLIED BY A FRACTION, THE NUMERATOR OF WHICH SHALL BE THE TOTAL ASSESSED VALUE OF EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11994-03-4
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