Bill Text: NY A03881 | 2019-2020 | General Assembly | Introduced

New York Assembly Bill 3881 (Prior Session Legislation)

Introduced

Bill Title: Provides respondents the option to repay a court ordered refund in installments of no more than five years.

Spectrum: Moderate Partisan Bill (Democrat 6-1)

Status: (Introduced - Dead) 2020-01-08 - referred to real property taxation [A03881 Detail]

Download: New_York-2019-A03881-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          3881
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 31, 2019
                                       ___________
        Introduced  by  M. of A. ZEBROWSKI, GALEF, D'URSO, JAFFEE, GUNTHER, RAIA
          -- Multi-Sponsored by -- M. of A. COOK -- read once  and  referred  to
          the Committee on Real Property Taxation
        AN  ACT  to  amend  the  real property tax law, in relation to providing
          respondents the option to repay a court ordered refund in installments
          of no more than five years
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Paragraph (a) of subdivision 5 of section 726 of the real
     2  property tax law, as added by chapter  503  of  the  laws  of  1996,  is
     3  amended to read as follows:
     4    (a) If the [parties have so agreed] respondent requests, a final order
     5  [may]  shall  provide  that  a  refund which is payable pursuant to this
     6  section shall be paid in installments over a specified  period,  not  to
     7  exceed  five  years. [The order may further provide, if the parties have
     8  so agreed, that interest shall be paid on such installments, at the rate
     9  provided by this section.] Each such installment shall be audited,  paid
    10  and charged back in the manner provided by this section.
    11    §  2. This act shall take effect on the first of January next succeed-
    12  ing the date upon which it shall become a law.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06289-01-9