Bill Text: NY A02711 | 2023-2024 | General Assembly | Introduced

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Bill Title: Provides for interest to accrue on missed installment payments beginning from the due date of such missed installment payment.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - referred to real property taxation [A02711 Detail]

Download: New_York-2023-A02711-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          2711

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    January 26, 2023
                                       ___________

        Introduced by M. of A. PAULIN -- read once and referred to the Committee
          on Real Property Taxation

        AN  ACT to amend the real property tax law, in relation to providing for
          interest to accrue on missed installment payments beginning  from  the
          due date of such missed installment payment

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

     1    Section 1. Section 924-a of the real property tax law  is  amended  by
     2  adding a new subdivision 4 to read as follows:
     3    4. Notwithstanding any provisions of this chapter, or any other gener-
     4  al,  special or local law to the contrary, in any case where an owner of
     5  real property has elected to pay taxes  in  installments,  if  any  such
     6  installment  is  not  paid  on  or  before the date when due, additional
     7  interest shall only begin to accrue from the due  date  of  such  missed
     8  installment  payment at the rate as determined pursuant to this section,
     9  or such other law as may locally be applicable.
    10    § 2. This act shall take effect immediately.





         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05344-01-3