Bill Text: NY A05486 | 2015-2016 | General Assembly | Amended
Bill Title: Removes the prohibition on changing an assessment following litigation.
Spectrum: Moderate Partisan Bill (Republican 4-1)
Status: (Introduced - Dead) 2016-09-19 - enacting clause stricken [A05486 Detail]
Download: New_York-2015-A05486-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 5486 2015-2016 Regular Sessions IN ASSEMBLY February 24, 2015 ___________ Introduced by M. of A. NOJAY, TENNEY, CORWIN -- Multi-Sponsored by -- M. of A. ARROYO, HAWLEY -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to prohibition against change in assessment following litigation; and to repeal section 727 of such law relating thereto The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 727 of the real property tax law is REPEALED. 2 § 2. Subdivision 10 of section 485 of the real property tax law, as 3 added by chapter 87 of the laws of 2001, is amended to read as follows: 4 10. When restrictions have been imposed upon changing future assess- 5 ments of a facility pursuant to [the provisions of either section seven6hundred twenty-seven of this chapter or] a formal agreement between the 7 parties, and the facility becomes exempt pursuant to this section, such 8 restrictions shall apply to future assessments of the facility to the 9 same extent as if it had not become exempt pursuant to this section. 10 § 3. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07801-01-5