Bill Text: NY A00499 | 2009-2010 | General Assembly | Introduced

New York Assembly Bill 499 (Prior Session Legislation)

Introduced

Bill Title: Sets a 7-year limit to the real property tax exemption for unimproved property of mandatory class nonprofit organizations.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2011-01-05 - referred to real property taxation [A00499 Detail]

Download: New_York-2009-A00499-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          499
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                      (PREFILED)
                                    January 5, 2011
                                      ___________
       Introduced  by  M.  of  A.  GUNTHER  --  Multi-Sponsored  by -- M. of A.
         BOYLAND, COOK -- read once and referred to the Committee on Real Prop-
         erty Taxation
       AN ACT to amend the real property tax law, in relation to  the  duration
         of  the  exemption for property of mandatory class nonprofit organiza-
         tions by reason of the absence of suitable buildings  or  improvements
         thereon  if  construction  of  such  buildings  or  improvements is in
         progress or is in good faith contemplated
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Subdivision  3  of section 420-a of the real property tax
    2  law, such section as renumbered by chapter 919 of the laws of  1981,  is
    3  amended to read as follows:
    4    3. Such real property from which no revenue is derived shall be exempt
    5  though  not  in actual use therefor by reason of the absence of suitable
    6  buildings or OTHER PHYSICAL improvements thereon if:
    7    (a) the construction of such buildings or OTHER PHYSICAL  improvements
    8  is  in  progress or is in good faith contemplated by such corporation or
    9  association WITHIN SEVEN YEARS AFTER SUCH PROPERTY HAS BEEN ACQUIRED  BY
   10  SUCH  CORPORATION  OR  ASSOCIATION; FOR THE PURPOSES OF CALCULATING SUCH
   11  SEVEN YEARS' PERIOD, WITH RESPECT TO PROPERTY ACQUIRED BEFORE THE EFFEC-
   12  TIVE DATE OF THE CHAPTER OF  THE  LAWS  OF  TWO  THOUSAND  ELEVEN  WHICH
   13  AMENDED  THIS  SUBDIVISION,  SUCH  SEVEN YEARS' PERIOD SHALL COMMENCE ON
   14  SUCH EFFECTIVE DATE, AND WITH RESPECT TO PROPERTY ACQUIRED ON  OR  AFTER
   15  SUCH EFFECTIVE DATE, SUCH SEVEN YEARS' PERIOD SHALL COMMENCE ON THE DATE
   16  OF ACQUISITION; or
   17    (b) such real property is held by such corporation or association upon
   18  condition  that  the title thereto shall revert in case any building not
   19  intended and suitable for one or more such  purposes  shall  be  erected
   20  upon such premises or some part thereof.
   21    S  2. This act shall take effect on the first of January next succeed-
   22  ing the date on which it shall have become a law.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD02089-01-1