Bill Text: NY A01026 | 2015-2016 | General Assembly | Introduced

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

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Bill Title: Relates to state aid for certain cities, towns, villages or fire districts adversely affected by a concentration of tax exempt property.

Spectrum: Bipartisan Bill

Status: (Introduced - Dead) 2016-02-24 - print number 1026a [A01026 Detail]

Download: New_York-2015-A01026-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         1026
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                    January 8, 2015
                                      ___________
       Introduced  by  M.  of  A. GUNTHER, LUPARDO, JAFFEE, SCHIMEL, SKARTADOS,
         SANTABARBARA,  CROUCH,  DUPREY,  FINCH,  KOLB,  BLANKENBUSH,  BARCLAY,
         TENNEY  --  Multi-Sponsored  by  -- M.   of A. GIGLIO, HAWLEY, HIKIND,
         LOPEZ, MAGEE, McDONOUGH, McLAUGHLIN -- read once and referred  to  the
         Committee on Real Property Taxation
       AN  ACT to amend the real property tax law, in relation to state aid for
         certain towns adversely affected by  a  concentration  of  tax  exempt
         property
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The real property tax  law  is  amended  by  adding  a  new
    2  section 532-a to read as follows:
    3    S 532-A. CERTAIN LANDS SUBJECT TO STATE PAYMENTS. IN ANY TOWN IN WHICH
    4  THE TOTAL AMOUNT OF TAX EXEMPT PROPERTY REPRESENTS MORE THAN THIRTY-FIVE
    5  PERCENT,  BY  VALUE,  OF  THE TOTAL AMOUNT OF PROPERTY IN SUCH TOWN, THE
    6  STATE SHALL PAY A SUM, SUBJECT TO BUDGETARY APPROPRIATION, AS FOLLOWS:
    7    1. FIFTY PERCENT OF SUCH SUM SHALL BE PAID TO EACH  ELIGIBLE  TOWN  IN
    8  PROPORTION  TO  SUCH TOWN'S POPULATION RELATIVE TO THE POPULATION OF ALL
    9  ELIGIBLE TOWNS; AND
   10    2. FIFTY PERCENT OF SUCH SUM SHALL BE PAID BASED ON THE VALUE  OF  TAX
   11  EXEMPT  PROPERTY  IN  EACH ELIGIBLE TOWN AS A PERCENTAGE OF THE VALUE OF
   12  ALL TAX EXEMPT PROPERTY IN ALL ELIGIBLE TOWNS.
   13    S 2. This act shall take effect immediately and shall apply to assess-
   14  ment rolls prepared on the basis of taxable status  dates  occurring  on
   15  and after the date on which this act shall have become a law.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD00991-01-5