S T A T E   O F   N E W   Y O R K
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                                  9578

                          I N  A S S E M B L Y

                               May 8, 2014
                               ___________

Introduced  by  M.  of  A.  SILVER, GOLDFEDER, BROOK-KRASNY, CYMBROWITZ,
  CUSICK, ORTIZ, TITUS,  BENEDETTO,  GLICK,  TITONE,  WEINSTEIN,  CLARK,
  WEPRIN,  JACOBS  --  Multi-Sponsored  by  -- M. of A. BRENNAN, COLTON,
  DenDEKKER, GOTTFRIED, MILLER, NOLAN, PERRY -- 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
  partial  abatement  of  real  property taxes on real property that was
  rebuilt after  being  seriously  damaged  by  the  severe  storm  that
  occurred  on  the  twenty-ninth and thirtieth of October, two thousand
  twelve in a city having a population of one million or more

  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 467-h to read as follows:
  S 467-H. PARTIAL ABATEMENT FOR CERTAIN REBUILT REAL PROPERTY SERIOUSLY
DAMAGED BY THE SEVERE STORM THAT OCCURRED ON THE TWENTY-NINTH AND  THIR-
TIETH  OF  OCTOBER, TWO THOUSAND TWELVE IN A CITY HAVING A POPULATION OF
ONE MILLION OR MORE. 1. GENERALLY.  NOTWITHSTANDING ANY PROVISION OF ANY
GENERAL, SPECIAL OR LOCAL LAW TO THE CONTRARY, ANY CITY HAVING  A  POPU-
LATION  OF  ONE  MILLION  OR  MORE IS HEREBY AUTHORIZED AND EMPOWERED TO
ADOPT AND AMEND LOCAL LAWS IN ACCORDANCE WITH THIS SECTION  TO  GRANT  A
PARTIAL  ABATEMENT  OF REAL PROPERTY TAXES FOR THE FISCAL YEAR BEGINNING
ON THE FIRST OF JULY, TWO THOUSAND FOURTEEN, IN THE AMOUNT  PROVIDED  IN
THIS  SECTION  TO ELIGIBLE REAL PROPERTY AS DEFINED IN SUBDIVISION THREE
OF THIS SECTION ON THE FIRST OF JULY, TWO THOUSAND  FOURTEEN.  IF  LEGAL
TITLE  TO  ELIGIBLE  REAL  PROPERTY IS HELD BY ONE OR MORE TRUSTEES, THE
BENEFICIAL OWNER OR OWNERS SHALL BE  DEEMED  TO  OWN  THE  PROPERTY  FOR
PURPOSES OF THIS SECTION.  NOTWITHSTANDING ANY PROVISION OF THIS ARTICLE
TO  THE  CONTRARY, A PROPERTY THAT IS RECEIVING BENEFITS PURSUANT TO ANY
OTHER SECTION OF THIS ARTICLE SHALL NOT BE PROHIBITED FROM  RECEIVING  A
PARTIAL ABATEMENT PURSUANT TO THIS SECTION IF SUCH PROPERTY IS OTHERWISE
ELIGIBLE TO RECEIVE SUCH ABATEMENT.
  2. DEFINITIONS. AS USED IN THIS SECTION:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14840-02-4
              

A. 9578                             2

  A.  "ACTUAL  ASSESSED  VALUATION" MEANS THE ASSESSED VALUATION OF REAL
PROPERTY PRIOR TO THE CALCULATION OF ANY TRANSITIONAL ASSESSED VALUATION
PURSUANT TO SUBDIVISION THREE OF SECTION EIGHTEEN HUNDRED FIVE  OF  THIS
CHAPTER,  AND  WHICH  IS NOT REDUCED BY ANY EXEMPTION FROM REAL PROPERTY
TAXES.
  B.  "ANNUAL TAX" MEANS THE AMOUNT OF REAL PROPERTY TAX THAT IS IMPOSED
ON A PROPERTY FOR A FISCAL YEAR,  DETERMINED  AFTER  REDUCTION  FOR  ANY
AMOUNT  FROM  WHICH THE PROPERTY IS EXEMPT, OR WHICH IS ABATED, PURSUANT
TO APPLICABLE LAW.
  C. "ANNUAL TAX ATTRIBUTABLE TO IMPROVEMENTS" MEANS THE AMOUNT OF  REAL
PROPERTY TAX THAT IS IMPOSED ON A PROPERTY FOR A FISCAL YEAR, DETERMINED
AFTER  REDUCTION  FOR  ANY  AMOUNT FROM WHICH THE PROPERTY IS EXEMPT, OR
WHICH IS ABATED, PURSUANT TO APPLICABLE LAW, MULTIPLIED BY  A  FRACTION,
THE NUMERATOR OF WHICH IS EQUAL TO THE ASSESSED VALUATION OF THE PROPER-
TY  FOR SUCH FISCAL YEAR THAT IS ATTRIBUTABLE TO THE IMPROVEMENTS ON THE
PROPERTY, AND THE DENOMINATOR OF WHICH IS THE TOTAL  ASSESSED  VALUATION
OF THE PROPERTY FOR SUCH FISCAL YEAR.
  D.  "ASSESSED VALUATION" MEANS THE ASSESSED VALUATION OF REAL PROPERTY
THAT WAS USED TO DETERMINE THE ANNUAL TAX AS DEFINED IN PARAGRAPH  B  OF
THIS  SUBDIVISION,  AND  WHICH IS NOT REDUCED BY ANY EXEMPTION FROM REAL
PROPERTY TAXES. FOR REAL PROPERTY CLASSIFIED AS CLASS TWO OR CLASS  FOUR
REAL  PROPERTY AS DEFINED IN SUBDIVISION ONE OF SECTION EIGHTEEN HUNDRED
TWO OF THIS CHAPTER TO  WHICH  SUBDIVISION  THREE  OF  SECTION  EIGHTEEN
HUNDRED  FIVE  OF  THIS  CHAPTER APPLIES, UNLESS OTHERWISE PROVIDED, THE
ASSESSED VALUATION IS THE LOWER OF  THE  ACTUAL  ASSESSED  VALUATION  AS
DEFINED  IN  PARAGRAPH  A  OF THIS SUBDIVISION AND TRANSITIONAL ASSESSED
VALUATION AS DEFINED IN PARAGRAPH J OF THIS SUBDIVISION.
  E.  "ASSESSED  VALUATION  ATTRIBUTABLE  TO  IMPROVEMENTS"  MEANS  THAT
PORTION  OF  THE  ASSESSED  VALUATION  OF REAL PROPERTY THAT WAS USED TO
DETERMINE THE ANNUAL TAX ATTRIBUTABLE  TO  IMPROVEMENTS  AS  DEFINED  IN
PARAGRAPH  C  OF  THIS  SUBDIVISION,  AND  WHICH  IS  NOT REDUCED BY ANY
EXEMPTION FROM REAL PROPERTY TAXES.
  F. "COMMISSIONER OF FINANCE" MEANS THE COMMISSIONER OF  FINANCE  OF  A
CITY HAVING A POPULATION OF ONE MILLION OR MORE, OR HIS OR HER DESIGNEE.
  G.  "DEPARTMENT  OF FINANCE" MEANS THE DEPARTMENT OF FINANCE OF A CITY
HAVING A POPULATION OF ONE MILLION OR MORE.
  H. "IMPROVEMENTS" MEANS BUILDINGS AND OTHER ARTICLES  AND  STRUCTURES,
SUBSTRUCTURES AND SUPERSTRUCTURES ERECTED UPON, UNDER OR ABOVE THE LAND,
OR  AFFIXED  THERETO,  INCLUDING  BRIDGES  AND WHARVES AND PIERS AND THE
VALUE OF THE RIGHT TO COLLECT WHARFAGE, CRANAGE OR DOCKAGE THEREON.
  I. "TOTAL SQUARE FOOTAGE OF THE IMPROVEMENTS ON THE  PROPERTY"  MEANS,
WITH RESPECT TO A FISCAL YEAR, THE SQUARE FOOTAGE USED BY THE DEPARTMENT
OF  FINANCE  IN  DETERMINING  THE  ASSESSED  VALUATION  ATTRIBUTABLE  TO
IMPROVEMENTS ON THE PROPERTY FOR SUCH FISCAL YEAR.
  J. "TRANSITIONAL ASSESSED VALUATION" IS THE ASSESSED VALUATION  CALCU-
LATED  PURSUANT TO SUBDIVISION THREE OF SECTION EIGHTEEN HUNDRED FIVE OF
THIS CHAPTER, AND WHICH IS NOT REDUCED BY ANY EXEMPTION FROM REAL  PROP-
ERTY TAXES.
  3.  ELIGIBLE  REAL  PROPERTY.  FOR PURPOSES OF THIS SECTION, "ELIGIBLE
REAL PROPERTY" MEANS ANY TAX LOT THAT CONTAINED, ON THE APPLICABLE TAXA-
BLE STATUS DATE, CLASS ONE, CLASS TWO OR CLASS  FOUR  REAL  PROPERTY  AS
SUCH  CLASS  OF  REAL  PROPERTY IS DEFINED IN SUBDIVISION ONE OF SECTION
EIGHTEEN HUNDRED TWO OF THIS CHAPTER, AS TO WHICH:
  A. THE DEPARTMENT OF FINANCE REDUCED THE ASSESSED VALUATION  ATTRIBUT-
ABLE  TO  IMPROVEMENTS  ON THE PROPERTY FOR THE FISCAL YEAR BEGINNING ON
THE FIRST OF JULY, TWO THOUSAND THIRTEEN  FROM  THE  ASSESSED  VALUATION

A. 9578                             3

ATTRIBUTABLE  TO IMPROVEMENTS ON THE PROPERTY FOR THE FISCAL YEAR BEGIN-
NING ON THE FIRST OF JULY, TWO THOUSAND TWELVE AS  A  RESULT  OF  DAMAGE
CAUSED BY THE SEVERE STORM THAT OCCURRED ON THE TWENTY-NINTH AND THIRTI-
ETH OF OCTOBER, TWO THOUSAND TWELVE;
  B.  THE DEPARTMENT OF FINANCE INCREASED THE ASSESSED VALUATION ATTRIB-
UTABLE TO IMPROVEMENTS ON THE PROPERTY FOR THE FISCAL YEAR BEGINNING  ON
THE  FIRST  OF  JULY,  TWO THOUSAND FOURTEEN FROM THE ASSESSED VALUATION
ATTRIBUTABLE TO IMPROVEMENTS ON THE PROPERTY FOR THE FISCAL YEAR  BEGIN-
NING ON THE FIRST OF JULY, TWO THOUSAND THIRTEEN; AND
  C. THE ASSESSED VALUATION ATTRIBUTABLE TO IMPROVEMENTS ON THE PROPERTY
FOR  THE  FISCAL YEAR BEGINNING ON THE FIRST OF JULY, TWO THOUSAND FOUR-
TEEN EXCEEDS THE ASSESSED VALUATION ATTRIBUTABLE TO IMPROVEMENTS ON  THE
PROPERTY  FOR  THE FISCAL YEAR BEGINNING ON THE FIRST OF JULY, TWO THOU-
SAND TWELVE.
  4. AMOUNT OF PARTIAL ABATEMENT. A. EXCEPT AS PROVIDED IN  PARAGRAPH  C
OF  THIS  SUBDIVISION,  ELIGIBLE  REAL  PROPERTY SHALL RECEIVE A PARTIAL
ABATEMENT OF THE REAL PROPERTY TAXES DUE ON SUCH PROPERTY EQUAL  TO  THE
AMOUNT  BY  WHICH (1) THE ANNUAL TAX ON THE PROPERTY FOR THE FISCAL YEAR
BEGINNING ON THE FIRST OF JULY, TWO THOUSAND FOURTEEN  EXCEEDS  (2)  THE
ANNUAL TAX ON THE PROPERTY FOR THE FISCAL YEAR BEGINNING ON THE FIRST OF
JULY, TWO THOUSAND TWELVE.
  B.  NOTWITHSTANDING  PARAGRAPH  A  OF  THIS  SUBDIVISION AND EXCEPT AS
PROVIDED IN PARAGRAPH C OF THIS SUBDIVISION, THE AMOUNT OF  THE  PARTIAL
ABATEMENT OF THE REAL PROPERTY TAXES DUE ON ELIGIBLE REAL PROPERTY CLAS-
SIFIED  AS  CLASS TWO OR CLASS FOUR REAL PROPERTY AS DEFINED IN SUBDIVI-
SION ONE OF SECTION EIGHTEEN HUNDRED TWO OF THIS CHAPTER TO WHICH SUBDI-
VISION THREE OF SECTION EIGHTEEN HUNDRED FIVE OF  THIS  CHAPTER  APPLIES
SHALL  BE EQUAL TO THE AMOUNT OF (1) THE INCREASE IN THE ACTUAL ASSESSED
VALUATION ATTRIBUTABLE TO AN ADDITION TO OR IMPROVEMENT OF THE  PROPERTY
AS PROVIDED IN SUBDIVISION FIVE OF SECTION EIGHTEEN HUNDRED FIVE OF THIS
CHAPTER FOR THE FISCAL YEAR BEGINNING ON THE FIRST OF JULY, TWO THOUSAND
FOURTEEN,  (2)  REDUCED BY THE INCREASE IN THE ACTUAL ASSESSED VALUATION
ATTRIBUTABLE TO AN  ADDITION  TO  OR  IMPROVEMENT  OF  THE  PROPERTY  AS
PROVIDED  IN  SUBDIVISION  FIVE OF SECTION EIGHTEEN HUNDRED FIVE OF THIS
CHAPTER FOR THE FISCAL YEAR BEGINNING ON THE FIRST OF JULY, TWO THOUSAND
FOURTEEN, MULTIPLIED BY A FRACTION, THE NUMERATOR OF WHICH IS THE  TRAN-
SITIONAL  ASSESSED  VALUATION FOR THE FISCAL YEAR BEGINNING ON THE FIRST
OF JULY, TWO THOUSAND THIRTEEN, AND THE  DENOMINATOR  OF  WHICH  IS  THE
ACTUAL  ASSESSED VALUATION FOR THE FISCAL YEAR BEGINNING ON THE FIRST OF
JULY, TWO THOUSAND THIRTEEN, (3) MULTIPLIED BY  THE  REAL  PROPERTY  TAX
RATE THAT IS APPLICABLE TO THE PROPERTY FOR THE FISCAL YEAR BEGINNING ON
THE  FIRST  OF JULY, TWO THOUSAND FOURTEEN. ELIGIBLE REAL PROPERTY SHALL
NOT BE ELIGIBLE FOR AN ABATEMENT UNDER  THIS  SECTION  IF  THE  FRACTION
CALCULATED  IN SUBPARAGRAPH TWO OF THIS PARAGRAPH IS EQUAL TO OR GREATER
THAN ONE.
  C. IN THE EVENT THAT THE TOTAL SQUARE FOOTAGE OF THE  IMPROVEMENTS  ON
THE  PROPERTY  FOR  THE  FISCAL YEAR BEGINNING ON THE FIRST OF JULY, TWO
THOUSAND FOURTEEN EXCEEDS THE TOTAL SQUARE FOOTAGE OF  THE  IMPROVEMENTS
ON  THE PROPERTY FOR THE FISCAL YEAR BEGINNING ON THE FIRST OF JULY, TWO
THOUSAND TWELVE, THE AMOUNT OF THE PARTIAL ABATEMENT SHALL BE THE AMOUNT
COMPUTED BY MULTIPLYING THE AMOUNT CALCULATED UNDER PARAGRAPH A OR B  OF
THIS  SUBDIVISION  BY A FRACTION, THE NUMERATOR OF WHICH IS EQUAL TO THE
AMOUNT OF THE TOTAL SQUARE FOOTAGE OF THE IMPROVEMENTS ON  THE  PROPERTY
FOR THE FISCAL YEAR BEGINNING ON THE FIRST OF JULY, TWO THOUSAND TWELVE,
AND  THE DENOMINATOR OF WHICH IS EQUAL TO THE AMOUNT OF THE TOTAL SQUARE

A. 9578                             4

FOOTAGE OF THE IMPROVEMENTS ON THE PROPERTY FOR THE FISCAL  YEAR  BEGIN-
NING ON THE FIRST OF JULY, TWO THOUSAND FOURTEEN.
  D.  FOR PROPERTY HELD IN THE COOPERATIVE FORM OF OWNERSHIP, THE ABATE-
MENT SHALL BE CREDITED TO EACH UNIT THEREIN IN AN AMOUNT EQUAL  TO  THAT
PROPORTION  OF  THE  AMOUNT  CALCULATED  UNDER  THIS SUBDIVISION THAT IS
ATTRIBUTABLE TO SUCH UNIT, AS DETERMINED BY THE  PROPORTIONAL  RELATION-
SHIP  OF  THE OWNER'S SHARE OR SHARES OF STOCK IN THE COOPERATIVE CORPO-
RATION THAT OWNS SUCH REAL PROPERTY TO THE TOTAL  OUTSTANDING  STOCK  OF
THE COOPERATIVE CORPORATION.
  E. ELIGIBLE REAL PROPERTY SHALL NOT BE ELIGIBLE FOR AN ABATEMENT UNDER
THIS  SECTION IF THE AMOUNT OF THE ABATEMENT CALCULATED PURSUANT TO THIS
SUBDIVISION EXCEEDS THE ANNUAL TAX ON THE PROPERTY FOR THE  FISCAL  YEAR
BEGINNING ON THE FIRST OF JULY, TWO THOUSAND FOURTEEN.
  5. RECOVERY OF ERRONEOUS ABATEMENT.
  A. FOR PURPOSES OF THIS SECTION, AN "ERRONEOUS ABATEMENT" MEANS THAT:
  (1) AN ABATEMENT WAS GRANTED TO A PROPERTY THAT WAS NOT ENTITLED TO AN
ABATEMENT UNDER THIS SECTION, OR
  (2)  AN  ABATEMENT  WAS  APPLIED  OR  CALCULATED  IN  ERROR UNDER THIS
SECTION. IN SUCH EVENT, THE AMOUNT OF THE ERRONEOUS ABATEMENT  SHALL  BE
EQUAL  TO  THE DIFFERENCE BETWEEN THE AMOUNT OF THE ABATEMENT ORIGINALLY
RECEIVED AND THE AMOUNT TO WHICH THE PROPERTY WAS ENTITLED.
  B. IF THE COMMISSIONER OF FINANCE DETERMINES THAT A PROPERTY  RECEIVED
AN ERRONEOUS ABATEMENT, HE OR SHE SHALL RECOVER SUCH ERRONEOUS ABATEMENT
BY  DEDUCTING  THE  AMOUNT OF THE ERRONEOUS ABATEMENT FROM ANY REFUND OR
REBATE OTHERWISE PAYABLE TO THE OWNER, AND ANY BALANCE OF THE AMOUNT  OF
THE  ERRONEOUS ABATEMENT REMAINING UNPAID SHALL CONSTITUTE A TAX LIEN ON
THE REAL PROPERTY, AS OF THE DUE AND PAYABLE DATE PROVIDED ON  THE  NEXT
TAX  BILL  MAILED BY THE COMMISSIONER OF FINANCE CONTAINING SUCH AMOUNT.
IF SUCH AMOUNT IS NOT PAID BY SUCH DUE AND PAYABLE DATE, INTEREST AT THE
RATE APPLICABLE TO DELINQUENT REAL PROPERTY TAXES ON SUCH PROPERTY SHALL
BE CHARGED AND COLLECTED ON SUCH AMOUNT FROM THE DUE  AND  PAYABLE  DATE
PROVIDED  ON  SUCH NOTICE TO THE DATE OF PAYMENT. SUCH TAX LIEN SHALL BE
ENFORCEABLE IN ACCORDANCE WITH THE PROVISIONS OF  LAW  RELATING  TO  THE
ENFORCEMENT OF TAX LIENS IN ANY SUCH CITY.
  6.  REDUCTION  OF  ASSESSED  VALUE. IF THE TAXABLE ASSESSED VALUE OF A
PROPERTY FOR THE FISCAL YEAR BEGINNING ON THE FIRST OF JULY,  TWO  THOU-
SAND  FOURTEEN  IS  REDUCED AFTER THE ASSESSMENT ROLL APPLICABLE TO SUCH
FISCAL YEAR BECOMES FINAL, ANY ABATEMENT  ALREADY  GRANTED  PURSUANT  TO
THIS  SECTION  SHALL BE ADJUSTED ACCORDINGLY. THE DIFFERENCE BETWEEN THE
ORIGINAL ABATEMENT AND THE ADJUSTED ABATEMENT SHALL BE DEDUCTED FROM ANY
CREDIT OTHERWISE DUE.
  7. RULEMAKING. THE COMMISSIONER OF  FINANCE  SHALL  BE  AUTHORIZED  TO
PROMULGATE RULES NECESSARY TO EFFECTUATE THE PURPOSES OF THIS SECTION.
  S 2. This act shall take effect immediately.