Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 21, 2015 |
approval memo.22 signed chap.564 |
Dec 09, 2015 |
delivered to governor |
Jun 09, 2015 |
returned to assembly passed senate substituted for s3539 |
Jun 09, 2015 |
substituted by a1421 |
Jun 08, 2015 |
advanced to third reading |
Jun 03, 2015 |
2nd report cal. |
Jun 02, 2015 |
1st report cal.1234 |
Feb 12, 2015 |
referred to local government |
Senate Bill S3539
Signed By Governor2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A1421 - Signed by Governor
- 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
Votes
2015-S3539 (ACTIVE) - Details
2015-S3539 (ACTIVE) - Sponsor Memo
BILL NUMBER:S3539 TITLE OF BILL: An act to amend the real property tax law, in relation to a real property tax exemption for farm dwellings owned by a limited liability company PURPOSE: This bill extends the STAR exemption to farm dwellings that are owned by a limited liability company. SUMMARY OF PROVISIONS: Section 1: Amends paragraph (d) of subdivision 3 of section 425 of the Real Property Tax Law to extend the STAR exemption to farm dwellings owned by an LLC, so long as the property serves as the primary residence of one or more of the owners. Section 2: Establishes the effective date. JUSTIFICATION: The STAR exemption was created to give homeowners across the State relief from school taxes. This exemption has been expanded over the years to cover the homes of farmers where the home was owned by a corporation or a partnership. This legislation will extend the
2015-S3539 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3539 2015-2016 Regular Sessions I N S E N A T E February 12, 2015 ___________ Introduced by Sen. MARCHIONE -- 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 a real proper- ty tax exemption for farm dwellings owned by a limited liability company THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (d) of subdivision 3 of section 425 of the real property tax law, as added by chapter 443 of the laws of 2003, is amended to read as follows: (d) Farm dwellings not owned by the resident. (i) If legal title to the farm dwelling is held by an S-corporation or by a C-corporation, the exemption shall be granted if the property serves as the primary resi- dence of a shareholder of such corporation. (ii) If the legal title to the farm dwelling is held by a partnership, the exemption shall be granted if the property serves as the primary residence of one or more of the partners. (iii) IF THE LEGAL TITLE TO THE FARM DWELLING IS HELD BY A LIMITED LIABILITY COMPANY, THE EXEMPTION SHALL BE GRANTED IF THE PROPERTY SERVES AS THE PRIMARY RESIDENCE OF ONE OR MORE OF THE OWNERS. (IV) Any information deemed necessary to establish shareholder [or], partner OR OWNER status for eligibility purposes shall be considered confidential and exempt from the freedom of information law. S 2. This act shall take effect January 1, 2016. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. S LBD03487-01-5
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