Bill Text: NY A09511 | 2009-2010 | General Assembly | Amended

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Bill Title: Authorizes the Time Out Club Development Corporation to file an application for a real property tax exemption.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2010-07-15 - signed chap.187 [A09511 Detail]

Download: New_York-2009-A09511-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        9511--A
                                 I N  A S S E M B L Y
                                    January 7, 2010
                                      ___________
       Introduced by M. of A. HOOPER -- read once and referred to the Committee
         on  Real  Property  Taxation  --  committee  discharged, bill amended,
         ordered reprinted as amended and recommitted to said committee
       AN ACT to authorize the Time Out Club Development Corporation to file an
         application for a real property tax exemption
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Notwithstanding any other provision of law to the contrary,
    2  the  assessor  of  the  county of Nassau, is hereby authorized to accept
    3  from the Time Out  Club  Development  Corporation,  an  application  for
    4  exemption from real property taxes pursuant to section 420-b of the real
    5  property  tax  law  for the 2007-2008 and 2008-2009 assessment rolls for
    6  the parcel owned by such not-for-profit organization which is located in
    7  the town of Hempstead at 436 S.  Franklin  Street,  otherwise  known  as
    8  section 36, block 3, lots 21, 22, 23 and 54.  If accepted, such applica-
    9  tion shall be reviewed as if it had been received on or before the taxa-
   10  ble status date established for such rolls.
   11    If satisfied that such organization: (i) acquired title to the proper-
   12  ty  for  which  it seeks exemption subsequent to the taxable status date
   13  established for such rolls and prior to the taxable status date for  the
   14  next  ensuing  assessment  rolls and (ii) would otherwise be entitled to
   15  such exemption  if  such  organization  had  filed  an  application  for
   16  exemption  by  the  appropriate taxable status date, the assessor of the
   17  county of Nassau, upon approval by the county legislature of the  county
   18  of Nassau, may grant exemption from all taxation beginning with the date
   19  of  acquisition of the property by such Time Out Club Development Corpo-
   20  ration  and  make  appropriate  correction  to  the  subject  rolls.  If
   21  exemption  is  granted  and  the  Time  Out Club Development Corporation
   22  therefore shall have paid any tax with respect to the subject rolls, the
   23  governing body or tax department may, in its  sole  discretion,  provide
   24  for the refund of those taxes paid and cancel taxes, fines, penalties or
   25  interest remaining unpaid.
   26    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15327-03-0