Bill Text: NY A05349 | 2019-2020 | General Assembly | Introduced
Bill Title: Authorizes the reduction of assessed value of land subject to a conservation easement conveyed to not-for-profit conservation organization.
Spectrum: Partisan Bill (Republican 4-0)
Status: (Introduced - Dead) 2020-07-16 - held for consideration in real property taxation [A05349 Detail]
Download: New_York-2019-A05349-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 5349 2019-2020 Regular Sessions IN ASSEMBLY February 11, 2019 ___________ Introduced by M. of A. DiPIETRO -- read once and referred to the Commit- tee on Real Property Taxation AN ACT to amend the real property tax law, in relation to establishing a reduction in the assessed value of lands burdened by certain conserva- tion easements The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The real property tax law is amended by adding a new 2 section 533-a to read as follows: 3 § 533-a. Assessment of conservation easements conveyed to certain 4 organizations. Notwithstanding the provisions of section five hundred 5 thirty-three of this title, upon conveyance of a conservation easement 6 to a not-for-profit conservation organization, the assessed value of the 7 interest in each subject parcel retained by the grantor of such easement 8 shall be modified to effect the change, if any, in the value of the 9 lands subject to such conservation easement. 10 § 2. This act shall take effect on the thirtieth day after it shall 11 have become a law and shall apply to the conveyance of conservation 12 easements on or after such date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07610-01-9