Bill Text: NY A05066 | 2021-2022 | General Assembly | Introduced

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Bill Title: Exempts cost associated with revaluations or reassessments from the tax levy limit on real property.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-05 - referred to real property taxation [A05066 Detail]

Download: New_York-2021-A05066-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5066

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                    February 10, 2021
                                       ___________

        Introduced by M. of A. ABINANTI -- read once and referred to the Commit-
          tee on Real Property Taxation

        AN  ACT to amend the general municipal law, in relation to exempting the
          costs associated with real property revaluation  or  reassessment  for
          the tax levy limit

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

     1    Section 1. Subparagraph (iv) of paragraph  (g)  of  subdivision  2  of
     2  section  3-c of the general municipal law, as added by section 1 of part
     3  A of chapter 97 of the laws of 2011, is amended and a  new  subparagraph
     4  (v) is added to read as follows:
     5    (iv)  in  years  in which the normal contribution rate of the New York
     6  state teachers' retirement system, as defined by paragraph a of subdivi-
     7  sion two of  section  five  hundred  seventeen  of  the  education  law,
     8  increases  by  more than two percentage points from the previous year, a
     9  tax levy necessary for expenditures for the coming fiscal year for local
    10  government employer  contributions  to  the  New  York  state  teachers'
    11  retirement system caused by growth in the normal contribution rate minus
    12  two percentage points[.];
    13    (v)  all costs associated with real property revaluations or reassess-
    14  ments.
    15    § 2. Paragraph (a) of subdivision 3 of  section  3-c  of  the  general
    16  municipal law, as added by section 1 of part A of chapter 97 of the laws
    17  of 2011, is amended to read as follows:
    18    (a)  Subject  to  the  provisions of subdivision five of this section,
    19  beginning with the fiscal year that begins in two  thousand  twelve,  no
    20  local  government  shall adopt a budget that requires a tax levy that is
    21  greater than the tax levy limit for the  coming  fiscal  year.  Provided
    22  however  the  tax  levy  limit  shall  not  prohibit a levy necessary to
    23  support the expenditures pursuant to subparagraphs  (i)  through  [(iv)]
    24  (v) of paragraph (g) of subdivision two of this section.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01059-01-1
        A. 5066                             2

     1    §  3.  Subdivision  5  of section 3-c of the general municipal law, as
     2  added by section 1 of part A of chapter 97  of  the  laws  of  2011,  is
     3  amended to read as follows:
     4    5. A local government may adopt a budget that requires a tax levy that
     5  is  greater  than  the  tax  levy  limit for the coming fiscal year, not
     6  including any levy necessary to support  the  expenditures  pursuant  to
     7  subparagraphs (i) through [(iv)] (v) of paragraph [g] (g) of subdivision
     8  two of this section, only if the governing body of such local government
     9  first  enacts,  by  a vote of sixty percent of the total voting power of
    10  such body, a local law to override such limit  for  such  coming  fiscal
    11  year  only, or in the case of a district or fire district, a resolution,
    12  approved by a vote of sixty percent of the total voting  power  of  such
    13  body, to override such limit for such coming fiscal year only.
    14    § 4. This act shall take effect immediately.