Bill S41-2011

Requires notice to the local housing agency when construction is halted on a project for which an application for a certain tax exemption has been made

Requires notification to be given to the New York City Department of Housing Preservation in the event that construction on a project for which an application for a certain tax exemption has been made ceases for a period exceeding one hundred twenty days.

Details

Actions

  • Jan 4, 2012: REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
  • Jan 5, 2011: REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

Memo

BILL NUMBER:S41

TITLE OF BILL: An act to amend the real property tax law, in relation to requiring notification to be given to the local housing agency in the event that cessation of construction on a project for which an application for a certain tax exemption has been made equals or exceeds one hundred twenty days

PURPOSE: To require applicants under the 421-a tax abatement program to provide written notice to the local housing agency when construction ceases for a period exceeding one hundred twenty days.

SUMMARY OF PROVISIONS: Adds a new subdivision 5-a to Section 421-a of the real property tax law requiring applicants to affirmatively notify the local housing agency in writing when construction ceases for a period exceeding one hundred twenty days, the reasons for the cessation and the date construction is expected to resume.

EXISTING LAW: Section 421-a real property tax law.

JUSTIFICATION: When affordable housing building projects are halted, communities should know about this loss of housing. Projects that cease construction without explanation leave neighbors questioning whether the excavation in their midst will ever conclude and provide the needed housing and improvements that were promised when the project was approved. Requiring the developer to provide notice when construction ceases and when it will resume will help assuage these concerns and provide some level of assurance that the project will be completed in a reasonable period of time.

LEGISLATIVE HISTORY: 2010: S.5281A (Squadron) - Third Reading Cal. 841, A.8125A (Kavanagh) - Passed Assembly 2009: S.5281A (Squadron) - Third Reading Cal. 516, A.8125A (Kavanagh) - Passed Assembly

FISCAL IMPLICATIONS: None to New York State.

LOCAL FISCAL IMPLICATIONS: None.

EFFECTIVE DATE: Immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 41 2011-2012 Regular Sessions IN SENATE (PREFILED) January 5, 2011 ___________
Introduced by Sen. SQUADRON -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to amend the real property tax law, in relation to requiring notification to be given to the local housing agency in the event that cessation of construction on a project for which an application for a certain tax exemption has been made equals or exceeds one hundred twenty days THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 421-a of the real property tax law is amended by adding a new subdivision 5-a to read as follows: 5-A. IN THE EVENT THAT CONSTRUCTION ON A PROJECT FOR WHICH AN APPLICA- TION FOR TAX EXEMPTION UNDER THIS SECTION HAS BEEN MADE CEASES FOR A PERIOD EXCEEDING ONE HUNDRED TWENTY DAYS, THE APPLICANT FOR THE TAX EXEMPTION SHALL PROVIDE WRITTEN NOTICE TO THE LOCAL HOUSING AGENCY OF THE CESSATION, THE REASONS FOR THE CESSATION AND THE PROJECTED DATE CONSTRUCTION ON THE PROJECT IS TO RESUME. SUCH NOTICE SHALL BE GIVEN PRIOR TO THE EXPIRATION OF THE ONE HUNDRED TWENTY DAY PERIOD. S 2. This act shall take effect immediately.

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