Bill Text: NY A03922 | 2011-2012 | General Assembly | Introduced
Bill Title: Provides that oil, gas, and mineral rights shall be sold along with any property sold pursuant to a tax foreclosure sale.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2012-05-08 - held for consideration in real property taxation [A03922 Detail]
Download: New_York-2011-A03922-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
3922
2011-2012 Regular Sessions
I N A S S E M B L Y
January 31, 2011
___________
Introduced by M. of A. CROUCH -- read once and referred to the Committee
on Real Property Taxation
AN ACT to amend the real property tax law, in relation to the sale of
gas, oil, and mineral rights associated with a foreclosed property
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Subdivision 1 of section 1166 of the real property tax law,
2 as amended by chapter 532 of the laws of 1994, is amended to read as
3 follows:
4 1. Whenever any tax district shall become vested with the title to
5 real property by virtue of a foreclosure proceeding brought pursuant to
6 the provisions of this article, such tax district is hereby authorized
7 to sell and convey the real property so acquired, WHICH SHALL INCLUDE
8 ANY AND ALL GAS, OIL OR MINERAL RIGHTS ASSOCIATED WITH SUCH REAL PROPER-
9 TY, either with or without advertising for bids, notwithstanding the
10 provisions of any general, special or local law.
11 S 2. This act shall take effect on the first of January next succeed-
12 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.
LBD04889-01-1
