Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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Jan 06, 2016 |
referred to local government |
May 14, 2015 |
referred to local government |
Senate Bill S5483
2015-2016 Legislative Session
Sponsored By
(R, C) Senate District
Archive: Last Bill Status - In Senate Committee Local Government Committee
- 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
Actions
2015-S5483 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A6251
- Current Committee:
- Senate Local Government
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Add §§425-b & 1306-b, RPT L
2015-S5483 (ACTIVE) - Sponsor Memo
BILL NUMBER:S5483 TITLE OF BILL: An act to amend the real property tax law, in relation to creating school tax relief for property within a school district where a power plant has been removed; and providing for the repeal of such provisions upon expiration thereof PURPOSE: To provide temporary relief for communities who has a direct impact from a closure and subsequent demolition of a power plant within their school district. SUMMARY OF PROVISIONS: To qualify for this school tax relief exemption, the property must be within a school district where a power plant has been physically removed between the years of 2008 and the effective date of this legislation. The exemption shall be discontinued if a new power plant or energy providing plant has been reestablished within the district, or be deemed repealed 10 years after the effective date. JUSTIFICATION:
2015-S5483 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5483 2015-2016 Regular Sessions I N S E N A T E May 14, 2015 ___________ Introduced by Sen. LARKIN -- 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 creating school tax relief for property within a school district where a power plant has been removed; and providing for the repeal of such provisions upon expiration thereof 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 425-b to read as follows: S 425-B. ADDITIONAL SCHOOL TAX RELIEF (STAR) EXEMPTION. 1. GENERALLY. IN ADDITION TO THE EXEMPTIONS PROVIDED FOR IN SECTION FOUR HUNDRED TWEN- TY-FIVE OF THIS TITLE, REAL PROPERTY WHICH SATISFIES THE REQUIREMENTS OF THIS SECTION SHALL BE EXEMPT FROM TAXATION FOR SCHOOL PURPOSES AS PROVIDED HEREIN. 2. EXEMPT AMOUNT. THE EXEMPT AMOUNT FOR EACH PROPERTY SHALL BE TWENTY THOUSAND DOLLARS OF ITS ASSESSED VALUE. 3. ELIGIBILITY REQUIREMENT. TO QUALIFY FOR EXEMPTION PURSUANT TO THIS SECTION, THE PROPERTY MUST BE WITHIN A SCHOOL DISTRICT WHERE A POWER PLANT HAS BEEN PHYSICALLY REMOVED BETWEEN TWO THOUSAND EIGHT AND THE EFFECTIVE DATE OF THIS SECTION. 4. PROCEDURE. ALL PROPERTY LOCATED WITHIN THE SCHOOL DISTRICT WHICH IS ELIGIBLE UNDER SUBDIVISION THREE OF THIS SECTION SHALL AUTOMATICALLY RECEIVE SUCH EXEMPTION. 5. EFFECT OF EXEMPTION. THE EXEMPTION AUTHORIZED BY THIS SECTION SHALL HAVE THE EFFECT SPECIFIED IN SECTION ONE THOUSAND THREE HUNDRED SIX-B OF THIS CHAPTER. THE EXEMPTION SHALL NOT BE CONSIDERED WHEN DETERMINING STATE AID TO EDUCATION PURSUANT TO SECTION THIRTY-SIX HUNDRED TWO OF THE EDUCATION LAW, WHEN DETERMINING SCHOOL DISTRICT DEBT LIMITS PURSUANT TO LAW, WHEN DETERMINING THE AMOUNT OF TAXES TO BE LEVIED BY OR ON BEHALF OF A SCHOOL DISTRICT, WHEN CALCULATING TAX RATES FOR A SCHOOL DISTRICT, EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09784-03-5
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