This bill has been amended

Bill S5052-2013

Expands the exemption of new multiple dwellings from real property taxation to projects with 2 dwelling units when the total number of units is 500 or more

Exempts from certain provisions of the administrative code of the City of New York relating to property tax benefits for multiple dwellings, certain multiple dwellings in the Bronx.

Details

Actions

  • Jun 4, 2013: 1ST REPORT CAL.1025
  • May 7, 2013: REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

Votes

VOTE: COMMITTEE VOTE: - Housing, Construction and Community Development - Jun 4, 2013
Ayes (7): Young, Bonacic, Boyle, Gallivan, Nozzolio, Espaillat, Diaz
Ayes W/R (1): Martins
Nays (1): Krueger

Memo

BILL NUMBER:S5052

TITLE OF BILL: An act to amend the real property tax law, in relation to expanding the exemption of new multiple dwellings from local taxation

PURPOSE: The purpose of this bill is to provide a real property tax exemption pursuant. to Real Property Tax Law section 421-a for certain dwelling units that had inadvertently, due to the operation of the law, been excluded from participating in this tax abatement program. Because of the schedule of the construction of several phases of the Harbour Pointe at Shorehaven Condominium project in the Bronx, certain dwelling units are eligible to obtain the section 421-a tax exemption, while other similar situated units within the same housing development are not eligible. This bill affects the Harbour Pointe at Shorehaven Condominiums (Phase III and IV).

SUMMARY OF PROVISIONS:

Section 1: Amends Real Property Tax Law section 421-a to include certain units of a condominium housing project that were inadvertently excluded from the eligibility of participating in this tax abatement program. This bill merely authorizes such excluded homeowners who would have otherwise been eligible for such section 421-a real property exemption to apply to the local housing agency for a preliminary or final certificate of eligibility.

EXISTING LAW: The current law allows for certain dwelling units to be eligible for a real property tax abatement and other similarly situated housing units to not be eligible.

JUSTIFICATION: This bill was requested by the affected local condominium associations for the Harbour Pointe at Shorehaven Condominiums III and IV to ensure that all homeowners that live within the project covered under this bill can apply for and obtain a section 421-a real property tax abatement. Currently, no condominium owner has a tax abatement in Condo III and approximately 30% of those in Condo IV do not have a section 421-a real property tax exemption.

EFFECTIVE: Immediate and shall be deemed to have been in full force and effect on or after January 1, 2002.


Text

STATE OF NEW YORK ________________________________________________________________________ 5052 2013-2014 Regular Sessions IN SENATE May 7, 2013 ___________
Introduced by Sen. KLEIN -- 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 expanding the exemption of new multiple dwellings from local taxation THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 2 of section 421-a of the real property tax law is amended by adding a new paragraph (h-1) to read as follows: (H-L) ANYTHING IN THIS SECTION TO THE CONTRARY NOTWITHSTANDING, ANY PROJECT CONSISTING OF A SERIES OF DWELLINGS WITH EACH DWELLING CONSIST- ING OF TWO DWELLING UNITS, CONSTRUCTED ON A CONTIGUOUS SITE AS A SINGLE CONDOMINIUM DEVELOPMENT AND CONTAINING AN AGGREGATE OF NOT LESS THAN FIVE HUNDRED DWELLING UNITS, EACH OF SUCH DWELLINGS SHALL BE DEEMED FOR THE PURPOSE OF THIS SECTION ONLY TO BE PART OF A MULTIPLE DWELLING BUT WITHOUT ANY REQUIREMENT TO REGISTER WITH THE LOCAL HOUSING AGENCY AS A MULTIPLE DWELLING, AND SHALL BE ENTITLED TO THE EXEMPTION SET FORTH IN THIS SECTION, PROVIDED CONSTRUCTION OF SUCH PROJECT OR A SPECIFIC PORTION OF SUCH PROJECT BE COMMENCED BEFORE JANUARY FIRST, TWO THOUSAND NINE AND COMPLETED NO LATER THAN FORTY-EIGHT MONTHS FROM THE DATE OF COMMENCEMENT OF CONSTRUCTION OF SUCH PROJECT OR THE SPECIFIC PORTION OF SUCH PROJECT. ANY APPLICATION FOR A PRELIMINARY OR A FINAL CERTIFICATE OF ELIGIBILITY SHALL BE SUBMITTED TO THE LOCAL HOUSING AGENCY NO LATER THAN THE ONE HUNDRED EIGHTIETH DAY AFTER THIS PARAGRAPH SHALL HAVE BECOME A LAW. S 2. This act shall take effect immediately and shall be deemed to have been in full force and effect on and after January 1, 2002.

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