Establishes assessments for the value of lands that may be used for prospective natural gas or oil development activities.

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S4857A-2011 Actions

• Jan 4, 2012: REFERRED TO LOCAL GOVERNMENT
• Jan 4, 2012: returned to senate
• Jan 4, 2012: died in assembly
• Jun 15, 2011: referred to ways and means
• Jun 15, 2011: DELIVERED TO ASSEMBLY
• Jun 15, 2011: PASSED SENATE
• Jun 6, 2011: AMENDED ON THIRD READING (T) 4857A
• Jun 2, 2011: ADVANCED TO THIRD READING
• Jun 1, 2011: 2ND REPORT CAL.
• May 25, 2011: 1ST REPORT CAL.874
• Apr 27, 2011: REFERRED TO LOCAL GOVERNMENT

S4857A-2011 Calendars

Active List: Jun 15, 2011 , Floor Calendar: Jun 7, 2011 , Floor Calendar: Jun 13, 2011 , Floor Calendar: Jun 14, 2011 , Floor Calendar: Jun 15, 2011

S4857A-2011 Votes

S4857A-2011 Memo

BILL NUMBER:S4857A

TITLE OF BILL:
An act
to amend the real property tax law, in relation to establishing
assessments for the value of lands that may be used for
prospective natural gas or oil
development activities

PURPOSE:
The purpose of this legislation is to ensure that property owners are
not assessed for undeveloped mineral rights.

SUMMARY OF PROVISIONS:
This bill amends the real property tax law by adding a new section
582-b that establishes where oil and gas rights in land have been
leased or conveyed, such land shall not be subject to an increase in
assessment solely because of such lease or conveyance.

JUSTIFICATION:
A person owning property that mayor may not contain undeveloped
minerals may choose never to extract those minerals. Without
excavating these minerals there would be no way to determine the
exact value of such property, therefore, the property should be
assessed solely on the current use of the land.

Nothing in this section shall prohibit an assessment increase due to
oil and gas extraction pursuant to title 5 of article 5 of the real
property tax law.

LEGISLATIVE HISTORY:
New Bill.

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
Immediately.

S4857A-2011 Text

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

                                   4857--A
      Cal. No. 874

                         2011-2012 Regular Sessions

                              I N  SENATE

                               April 27, 2011
                                 ___________

  Introduced  by  Sens.  O'MARA, LIBOUS -- read twice and ordered printed,
    and when printed to be committed to the Committee on Local  Government
    -- reported favorably from said committee, ordered to first and second
    report,  ordered  to  a  third reading, amended and ordered reprinted,
    retaining its place in the order of third reading

  AN ACT to amend the real property tax law, in relation  to  establishing
    assessments  for  the  value of lands that may be used for prospective
    natural gas or oil development activities

    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 582-b to read as follows:

    S 582-B. VALUATION OF  PROSPECTIVE  NATURAL  GAS  OR  OIL  DEVELOPMENT
  ACTIVITIES.  WHERE  OIL  AND  GAS  RIGHTS  IN  LAND  HAVE BEEN LEASED OR
  CONVEYED, SUCH LAND SHALL NOT BE SUBJECT TO AN  INCREASE  IN  ASSESSMENT
  SOLELY  BECAUSE  OF  SUCH  LEASE  OR CONVEYANCE. NOTHING IN THIS SECTION
  SHALL PROHIBIT AN ASSESSMENT INCREASE DUE  TO  OIL  AND  GAS  EXTRACTION
  PURSUANT TO TITLE FIVE OF THIS ARTICLE.
    S 2. This act shall take effect immediately.





   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD11005-03-1