Bill Text: NY A10141 | 2023-2024 | General Assembly | Introduced

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Bill Title: Extends the effectiveness of certain provisions dealing with tax exemptions for rent regulated properties occupied by senior citizens and persons with disabilities until 2026.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Engrossed) 2024-05-30 - REFERRED TO RULES [A10141 Detail]

Download: New_York-2023-A10141-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          10141

                   IN ASSEMBLY

                                       May 9, 2024
                                       ___________

        Introduced  by  COMMITTEE  ON RULES -- (at request of M. of A. Lucas) --
          read once and referred to the Committee on Aging

        AN ACT to amend part U of chapter 55 of the laws of 2014,  amending  the
          real  property tax law relating to the tax abatement and exemption for
          rent regulated and rent controlled property occupied by  senior  citi-
          zens,  in  relation to the effectiveness thereof; and to amend chapter
          129 of the laws of 2014, amending the real property tax  law  relating
          to  the  tax  abatement  and  exemption  for  rent  regulated and rent
          controlled property occupied by persons with disabilities, in relation
          to the effectiveness thereof

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Section  4  of  part U of chapter 55 of the laws of 2014,
     2  amending the real property tax law relating to  the  tax  abatement  and
     3  exemption  for  rent  regulated and rent controlled property occupied by
     4  senior citizens, as amended by chapter 292  of  the  laws  of  2022,  is
     5  amended to read as follows:
     6    § 4. This act shall take effect July 1, 2014, and sections one and two
     7  of  this  act  shall expire and be deemed repealed June 30, [2024] 2026;
     8  provided that the amendment to section 467-b of the  real  property  tax
     9  law  made  by section one of this act shall not affect the expiration of
    10  such section and shall be deemed to expire therewith.
    11    § 2. Section 4 of chapter 129 of the laws of 2014, amending  the  real
    12  property  tax  law  relating to the tax abatement and exemption for rent
    13  regulated and rent controlled property occupied by persons with disabil-
    14  ities, as amended by chapter 292 of the laws of 2022, is amended to read
    15  as follows:
    16    § 4. This act shall take effect July 1, 2014 provided, however, that:
    17    (a) the amendments to paragraph b of subdivision 3 of section 467-b of
    18  the real property tax law made by section  one  of  this  act  shall  be
    19  subject  to the expiration and reversion of such subdivision pursuant to
    20  section 17 of chapter 576 of the laws of 1974,  as  amended,  when  upon
    21  such  date  the provisions of section two of this act shall take effect;
    22  and

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15281-01-4
        A. 10141                            2

     1    (b) nothing contained in this act shall be construed so as  to  extend
     2  the  provisions  of this act beyond June 30, [2024] 2026, when upon such
     3  date this act shall expire and the  provisions  contained  in  this  act
     4  shall be deemed repealed.
     5    § 3. This act shall take effect immediately.