Senate Bill S3896

Signed By Governor
2011-2012 Legislative Session

Extends until December 31, 2015, the date by which owners rehabilitating single room occupancy housing (SROs) are eligible to receive tax benefits

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A6319 - 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

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2011-S3896 (ACTIVE) - Details

See Assembly Version of this Bill:
A6319
Law Section:
Real Property Tax Law
Laws Affected:
Amd §488-a, RPT L

2011-S3896 (ACTIVE) - Summary

Extends until December 31, 2015, the date by which owners rehabilitating single room occupancy housing (SROs) are eligible to receive tax benefits.

2011-S3896 (ACTIVE) - Sponsor Memo

2011-S3896 (ACTIVE) - Bill Text download pdf 

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

                                  3896

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              March 9, 2011
                               ___________

Introduced  by  Sen.  GOLDEN -- read twice and ordered printed, and when
  printed to be committed to the Committee on Local Government

AN ACT to amend the real property tax law, in relation to rehabilitation
  of certain multiple dwellings used for single room occupancy

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subdivision  2  of section 488-a of the real property tax
law, as amended by chapter 609 of the laws of 2006, is amended  to  read
as follows:
  2.  Local  legislative action. Any city to which the multiple dwelling
law is applicable, acting through its local legislative  body  or  other
governing  agency, is hereby authorized and empowered to adopt and amend
local laws or ordinances up to and including December thirty-first,  two
thousand  [eleven]  FIFTEEN,  to  provide  that any increase in assessed
valuation of eligible real property shall be exempt  from  taxation  for
local  purposes  and  to  provide for the abatement of taxes on eligible
real property, including the land, in accordance with this section.
  S 2. Paragraph (i) of subdivision 3 of section 488-a of the real prop-
erty tax law, as amended by chapter 609 of the laws of 2006, is  amended
to read as follows:
  (i) the eligible improvements are commenced after July first, nineteen
hundred  eighty, but prior to December thirty-first, two thousand [elev-
en] FIFTEEN, and are completed within thirty-six months of commencement;
  S 3. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10103-01-1

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