Bill S1867-2013

Relates to payment of legal fees incurred by cooperative corporations or condominiums in connection with tax certiorari proceedings

Relates to payment of legal fees incurred by cooperative corporations or condominiums in connection with tax certiorari proceedings.

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  • Jan 8, 2014: REFERRED TO CITIES
  • Jan 9, 2013: REFERRED TO CITIES

Memo

BILL NUMBER:S1867

TITLE OF BILL: An act to amend the administrative code of the city of New York, in relation to payment of legal fees incurred by cooperative corporations or condominiums in connection with tax certiorari proceedings

PURPOSE OR GENERAL IDEA OF BILL: The bill relates to the payment of legal fees incurred by cooperative corporations or condominiums in connect with tax certiorari proceedings.

SUMMARY OF SPECIFIC PROVISIONS:

Section 1 would add section 11-240 to the administrative code of the city of New York. The section states that the city shall pay twenty-five percent of legal fees incurred by a cooperative corporation or condominium board as a result of tax certiorari proceedings brought by the corporation or board regardless of whether such corporation or board prevails in the proceedings,

Section 2 contains the effective date.

JUSTIFICATION: Over recent years, as New York City has released its assessed values of properties, the assessed value is often challenged in tax certiorari proceedings. This results in cooperative corporation or condominium boards spending approximately tens of thousands of dollars in legal fees. Requiring the City of New York to pay part of these attorney's fees would create an incentive for the city to work to assess properties more fairly and thereby reduce the frequency of these proceedings.

PRIOR LEGISLATIVE HISTORY: None.

FISCAL IMPLICATIONS: To be determined.

EFFECTIVE DATE: This act shall take effect immediately,


Text

STATE OF NEW YORK ________________________________________________________________________ 1867 2013-2014 Regular Sessions IN SENATE (PREFILED) January 9, 2013 ___________
Introduced by Sen. STAVISKY -- read twice and ordered printed, and when printed to be committed to the Committee on Cities AN ACT to amend the administrative code of the city of New York, in relation to payment of legal fees incurred by cooperative corporations or condominiums in connection with tax certiorari proceedings THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The administrative code of the city of New York is amended by adding a new section 11-240 to read as follows: S 11-240 TAX CERTIORARI PROCEEDINGS; PAYMENT OF LEGAL FEES. THE CITY SHALL PAY TWENTY-FIVE PERCENT OF LEGAL FEES INCURRED BY A COOPERATIVE CORPORATION OR CONDOMINIUM BOARD AS A RESULT OF TAX CERTIORARI PROCEEDINGS BROUGHT BY THE CORPORATION OR BOARD REGARDLESS OF WHETHER SUCH CORPORATION OR BOARD PREVAILS IN THE PROCEEDINGS. S 2. This act shall take effect immediately.

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