Bill Text: NY A05221 | 2019-2020 | General Assembly | Amended

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Bill Title: Relates to the taxation of property owned by a cooperative corporation.

Spectrum: Strong Partisan Bill (Democrat 13-1)

Status: (Introduced - Dead) 2020-07-21 - ordered to third reading rules cal.228 [A05221 Detail]

Download: New_York-2019-A05221-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         5221--A

                               2019-2020 Regular Sessions

                   IN ASSEMBLY

                                    February 7, 2019
                                       ___________

        Introduced  by  M.  of  A. GALEF, STEC, ABINANTI, MAGNARELLI, SEAWRIGHT,
          RIVERA, HYNDMAN, WILLIAMS, D'URSO, COOK, STIRPE, BLAKE --  Multi-Spon-
          sored  by -- M. of A.  THIELE -- read once and referred to the Commit-
          tee on Real Property Taxation -- recommitted to the Committee on  Real
          Property  Taxation  in  accordance  with  Assembly  Rule  3, sec. 2 --
          committee discharged, bill amended, ordered reprinted as  amended  and
          recommitted to said committee

        AN  ACT to amend the real property tax law and the real property law, in
          relation to the taxation of property owned  by  a  cooperative  corpo-
          ration

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Subdivision 1 of section 581 of the real property  tax  law
     2  is amended by adding a new paragraph (d) to read as follows:
     3    (d)  The  provisions  of  paragraph  (a) of this subdivision shall not
     4  apply to real property owned or leased by a cooperative  corporation  or
     5  on  a condominium basis in a municipal corporation, other than a special
     6  assessing unit, which has adopted, prior to the taxable status  date  of
     7  the assessment roll upon which its taxes will be levied, a local law or,
     8  for  a  school  district,  a resolution providing that the provisions of
     9  paragraph (a) of this subdivision shall not apply to such real  property
    10  within  that municipal corporation; provided, however, the provisions of
    11  this paragraph shall not apply to real property owned  or  leased  by  a
    12  cooperative  corporation  or on a condominium basis that had been previ-
    13  ously subject to the provisions of paragraph  (a)  of  this  subdivision
    14  prior to January first, two thousand twenty-one.
    15    §  2.  Subdivision  1  of  section  339-y  of the real property law is
    16  amended by adding a new paragraph (g) to read as follows:
    17    (g) The provisions of paragraph (b)  of  this  subdivision  shall  not
    18  apply  to  real property owned or leased by a cooperative corporation or
    19  on a condominium basis in a municipal corporation other than  a  special

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08645-04-0
        A. 5221--A                          2

     1  assessing  unit,  which has adopted, prior to the taxable status date of
     2  the assessment roll upon which its taxes will be levied, a local law or,
     3  for a school district, a resolution providing  that  the  provisions  of
     4  paragraph  (b) of this subdivision shall not apply to such real property
     5  within that municipal corporation; provided, however, the provisions  of
     6  this  paragraph  shall  not  apply to real property owned or leased by a
     7  cooperative corporation or on a condominium basis that had  been  previ-
     8  ously  subject  to  the  provisions of paragraph (b) of this subdivision
     9  prior to January first, two thousand twenty-one.
    10    § 3. This act shall take effect immediately and shall apply to assess-
    11  ment rolls prepared on the basis of taxable status dates occurring on or
    12  after January 1, 2021.