Bill Text: NY A05486 | 2015-2016 | General Assembly | Introduced

New York Assembly Bill 5486 (Prior Session Legislation)

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

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-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         5486
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                   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 Section 727 of the real property tax law is REPEALED.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    S  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 seven
    6  hundred 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    S 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