Bill Text: NY A05484 | 2015-2016 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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

Spectrum: Slight Partisan Bill (Republican 3-1)

Status: (Introduced - Dead) 2016-02-09 - reported referred to ways and means [A05484 Detail]

Download: New_York-2015-A05484-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         5484
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                   February 24, 2015
                                      ___________
       Introduced  by  M. of A. GALEF, CORWIN, STEC -- Multi-Sponsored by -- M.
         of A. McLAUGHLIN -- read once and referred to the  Committee  on  Real
         Property Taxation
       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 SEVENTEEN.
   15    S  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
   20  ASSESSING  UNIT,  WHICH HAS ADOPTED, PRIOR TO THE TAXABLE STATUS DATE OF
   21  THE ASSESSMENT ROLL UPON WHICH ITS TAXES WILL BE LEVIED, A LOCAL LAW OR,
   22  FOR A SCHOOL DISTRICT, A RESOLUTION PROVIDING  THAT  THE  PROVISIONS  OF
   23  PARAGRAPH  (B) OF THIS SUBDIVISION SHALL NOT APPLY TO SUCH REAL PROPERTY
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD00055-01-5
       A. 5484                             2
    1  WITHIN THAT MUNICIPAL CORPORATION; PROVIDED, HOWEVER, THE PROVISIONS  OF
    2  THIS  PARAGRAPH  SHALL  NOT  APPLY TO REAL PROPERTY OWNED OR LEASED BY A
    3  COOPERATIVE CORPORATION OR ON A CONDOMINIUM BASIS THAT HAD  BEEN  PREVI-
    4  OUSLY  SUBJECT  TO  THE  PROVISIONS OF PARAGRAPH (B) OF THIS SUBDIVISION
    5  PRIOR TO JANUARY FIRST, TWO THOUSAND SEVENTEEN.
    6    S 3. This act shall take effect immediately and shall apply to assess-
    7  ment rolls prepared on the basis of taxable status dates occurring on or
    8  after January 1, 2017.