Bill Text: NY A02088 | 2019-2020 | General Assembly | Introduced
Bill Title: Authorizes a procedure whereby the chief executive officer of a municipal corporation in which there is located privately owned forest lands which are exempt from real property taxes to make application to the state for reimbursement for revenues lost as a result of such exemption.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2020-01-08 - referred to real property taxation [A02088 Detail]
Download: New_York-2019-A02088-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 2088 2019-2020 Regular Sessions IN ASSEMBLY January 22, 2019 ___________ Introduced by M. of A. GUNTHER -- Multi-Sponsored by -- M. of A. STEC -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to the assessment of private forest lands and to provide state assistance to municipal corporations relating thereto The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 480 of the real property tax law is amended by 2 adding a new subdivision 10 to read as follows: 3 10. (a) The chief executive officer of a municipal corporation in 4 which there are privately owned forest lands which are assessed in 5 accordance with the provisions of subdivision three of this section may 6 make application for state assistance as provided in this subdivision. 7 (b) Application for state assistance pursuant to this subdivision 8 shall be made on a form prescribed by the commissioner and shall contain 9 such information and documentation as may be required by the commission- 10 er and the commissioner may promulgate rules and regulations necessary 11 to the implementation of this subdivision. 12 (c) Upon receipt of the application for state assistance, such private 13 forest lands shall be valued by the commissioner and the cumulative 14 value of all such lands shall be equalized by applying thereto the 15 appropriate state equalization rate or special equalization rate estab- 16 lished in accordance with the rules of the commissioner. 17 (d) If the cumulative value determined and equalized pursuant to para- 18 graph (c) of this subdivision exceeds the taxable assessed valuation of 19 such property on the preceding assessment roll, as required by subdivi- 20 sion three of this section the commissioner shall compute the amount of 21 state assistance payable to or for the benefit of each municipal corpo- 22 ration by applying to the amount of the excess the appropriate tax rate 23 of the municipal corporation and such amount shall be paid on audit and EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD00906-01-9A. 2088 2 1 warrant of the comptroller out of moneys appropriated by the legisla- 2 ture. 3 § 2. Section 480-a of the real property tax law is amended by adding a 4 new subdivision 11 to read as follows: 5 11. (a) The chief executive officer of a municipal corporation in 6 which there are privately owned forest lands which are assessed in 7 accordance with the provisions of this section may make application for 8 state assistance as provided in this subdivision. 9 (b) Application for state assistance pursuant to this subdivision 10 shall be made on a form prescribed by the commissioner and shall contain 11 such information and documentation as may be required by the commission- 12 er and the commissioner may promulgate rules and regulations necessary 13 to the implementation of this subdivision. 14 (c) Upon receipt of the application for state assistance, such private 15 forest lands shall be valued by the commissioner and the cumulative 16 value of all such lands shall be equalized by applying thereto the 17 appropriate state equalization rate or special equalization rate estab- 18 lished in accordance with the rules of the commissioner. 19 (d) If the cumulative value determined and equalized pursuant to para- 20 graph (c) of this subdivision exceeds the taxable assessed valuation of 21 such property on the preceding assessment roll, as required by this 22 section the commissioner shall compute the amount of state assistance 23 payable to or for the benefit of each municipal corporation by applying 24 to the amount of the excess the appropriate tax rate of the municipal 25 corporation and such amount shall be paid on audit and warrant of the 26 comptroller out of moneys appropriated by the legislature. 27 § 3. This act shall take effect immediately and shall apply to taxes 28 levied upon assessment rolls prepared on the basis of taxable status 29 dates occurring on or after January 1, 2021.
