Bill S7404-2009

Authorizes the Time Out Club Development Corporation to file an application for a real property tax exemption

Authorizes the Time Out Club Development Corporation to file an application for a real property tax exemption.

Details

Actions

  • Jun 16, 2010: SUBSTITUTED BY A9511A
  • Jun 14, 2010: ADVANCED TO THIRD READING
  • Jun 10, 2010: 2ND REPORT CAL.
  • Jun 9, 2010: 1ST REPORT CAL.916
  • Apr 7, 2010: REFERRED TO LOCAL GOVERNMENT

Votes

VOTE: COMMITTEE VOTE: - Local Government - Jun 9, 2010
Ayes (6): Stewart-Cousins, Oppenheimer, Valesky, Thompson, Johnson C, Little
Nays (1): Bonacic
Excused (1): Morahan

Memo

 BILL NUMBER:  S7404

TITLE OF BILL : An act to authorize the Time Out Club Development Corporation to file an application for a real property tax exemption

PURPOSE : To authorize the assessor of the County of Nassau to accept an application for real property tax exemption from the Time Out Club Development Corporation.

SUMMARY OF PROVISIONS : If the Time Out Club Development Corporation is entitled to a real property tax exemption, the assessor of the County of Nassau may grant exemption from all taxation beginning with the date of acquisition of the property.

JUSTIFICATION : The Time Out Club Development Corporation was not granted tax exemptions for the 2007-2008 and 2008-2009 tax years.

LEGISLATIVE HISTORY : None.

FISCAL IMPLICATIONS : None to the State.

EFFECTIVE DATE : Immediately.

Text

STATE OF NEW YORK ________________________________________________________________________ 7404 IN SENATE April 7, 2010 ___________
Introduced by Sen. HANNON -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to authorize the Time Out Club Development Corporation to file an application for a real property tax exemption THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Notwithstanding any other provision of law to the contrary, the assessor of the county of Nassau, is hereby authorized to accept from the Time Out Club Development Corporation, an application for exemption from real property taxes pursuant to section 420-b of the real property tax law for the 2007-2008 and 2008-2009 assessment rolls for the parcel owned by such not-for-profit organization which is located in the town of Hempstead at 436 S. Franklin Street, otherwise known as section 36, block 3, lots 21, 22, 23 and 54. If accepted, such applica- tion shall be reviewed as if it had been received on or before the taxa- ble status date established for such rolls. If satisfied that such organization: (i) acquired title to the proper- ty for which it seeks exemption subsequent to the taxable status date established for such rolls and prior to the taxable status date for the next ensuing assessment rolls and (ii) would otherwise be entitled to such exemption if such organization had filed an application for exemption by the appropriate taxable status date, the assessor of the county of Nassau, upon approval by the county legislature of the county of Nassau, may grant exemption from all taxation beginning with the date of acquisition of the property by such Time Out Club Development Corpo- ration and make appropriate correction to the subject rolls. If exemption is granted and the Time Out Club Development Corporation therefore shall have paid any tax with respect to the subject rolls, the governing body or tax department may, in its sole discretion, provide for the refund of those taxes paid and cancel taxes, fines, penalties or interest remaining unpaid. S 2. This act shall take effect immediately.

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