Bill Text: NY A05254 | 2009-2010 | General Assembly | Introduced
Bill Title: An act to amend the real property tax law, in relation to the real property tax exemption for not-for-profit housing corporations
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2010-01-06 - referred to real property taxation [A05254 Detail]
Download: New_York-2009-A05254-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
5254
2009-2010 Regular Sessions
I N A S S E M B L Y
February 11, 2009
___________
Introduced by M. of A. FARRELL -- read once and referred to the Commit-
tee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to the real prop-
erty tax exemption for not-for-profit housing corporations
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Paragraph (a) of subdivision 1 of section 422 of the real
2 property tax law, as amended by chapter 409 of the laws of 1993, is
3 amended to read as follows:
4 (a) Real property owned by a not-for-profit corporation organized
5 pursuant to the not-for-profit corporation law and the provisions of
6 article two of the private housing finance law, used exclusively to
7 provide housing and auxiliary facilities for faculty members, students,
8 employees, nurses, interns, resident physicians, researchers and other
9 personnel and their immediate families in attendance or employed at
10 colleges, universities, educational institutions, child care insti-
11 tutions, hospitals and medical research institutes, or for handicapped
12 or aged persons of low income, or owned by non-profit nursing home
13 companies organized pursuant to the not-for-profit corporation law and
14 the provisions of article twenty-eight-A of the public health law, used
15 exclusively to provide facilities for nursing care to sick, invalid,
16 infirm, disabled or convalescent persons of low income, or to provide
17 health-related service as defined in article twenty-eight of the public
18 health law to persons of low income, or any combination of the forego-
19 ing, and in addition thereto, to provide nursing care and health-related
20 service, or either of them, to persons of low income who are not occu-
21 pants of the project, or owned by housing development fund companies
22 organized pursuant to the not-for-profit corporation law and article
23 eleven of the private housing finance law, used exclusively to provide
24 housing for handicapped or aged persons of low income, and financed by a
25 federally-aided mortgage as defined in said article eleven, or owned by
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD09029-01-9
A. 5254 2
1 companies organized pursuant to the not-for-profit corporation law and
2 the provisions of article seventy-five of the mental hygiene law, used
3 exclusively to provide care, treatment, training, education and residen-
4 tial accommodations for operation as hostels for the mentally ill or
5 mentally retarded, or owned by companies organized pursuant to the
6 membership corporations law and the provisions of article seven-A of the
7 private housing finance law, used exclusively to provide programs,
8 services and other facilities for the aging, OR OWNED BY A NOT-FOR-PRO-
9 FIT CORPORATION ORGANIZED PURSUANT TO THE NOT-FOR-PROFIT CORPORATION
10 LAW, USED EXCLUSIVELY TO PROVIDE HOUSING FOR AGED PERSONS OF LOW, MODER-
11 ATE OR MIDDLE INCOME WHO AS DEFINED BY THE NEW YORK STATE HOUSING
12 FINANCE AGENCY REQUIRE ASSISTANCE WITH AT LEAST ONE INSTRUMENTAL ACTIV-
13 ITY OF DAILY LIVING AND SOME SUPPORTIVE SERVICES, INCLUDING BUT NOT
14 LIMITED TO CONGREGATE MEALS; ACCESS TO MEDICAL ASSISTANCE; SECURITY;
15 HOUSEKEEPING AND OTHER INCIDENTALS shall be exempt from taxation and
16 exempt from special ad valorem levies and special assessments to the
17 extent provided in section four hundred ninety of this chapter,
18 provided, however, that in a city having a population of one million or
19 more real property owned by any such corporation which is to provide
20 housing accommodations, substantially all of which are or are to be
21 assisted by rent subsidies made or to be made available by the Federal
22 government pursuant to a contract under section eight of the United
23 States Housing Act of nineteen hundred thirty-seven, as amended, or
24 pursuant to a project rental assistance contract under section two
25 hundred two of the United States Housing Act of nineteen hundred fifty-
26 nine, as amended, or pursuant to a project rental assistance contract
27 under section eight hundred eleven of the National Affordable Housing
28 Act of nineteen hundred ninety, as amended, shall from and after the
29 commencement of construction be subject to taxation or exempt therefrom
30 to the extent approved by a municipality acting through its local legis-
31 lative body, as such local legislative body is defined in [paragraph]
32 SUBDIVISION twelve of section two of the private housing finance law. No
33 such corporation or company shall pay a dividend on any of its stock or
34 pay interest on any of its debentures. Provided further, however, in a
35 county having a population of one million or more and having not more
36 than three towns within such county, real property owned by housing
37 development fund companies organized pursuant to the not-for-profit
38 corporation law and article eleven of the private housing finance law,
39 used exclusively to provide housing for handicapped or aged persons of
40 low income, and financed by a federally-aided mortgage as defined in
41 said article eleven shall from and after the commencement of
42 construction be subject to taxation or exempt therefrom to the extent
43 approved by a municipality acting through its local legislative body, as
44 such local legislative body is defined in [paragraph] SUBDIVISION twelve
45 of section two of the private housing finance law. Any tax payments
46 and/or payments in lieu of taxes made to a municipality pursuant to the
47 preceding sentence shall not be passed through nor become the liability
48 of any of the occupants of such property.
49 S 2. This act shall take effect immediately.
