Bill Text: NY A05604 | 2021-2022 | General Assembly | Introduced

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Bill Title: Relates to exemption from taxation of alterations and improvements to multiple dwellings by expanding certain provisions to include cities where the multiple residence law is applicable.

Spectrum: Partisan Bill (Republican 9-0)

Status: (Introduced - Dead) 2022-01-05 - referred to real property taxation [A05604 Detail]

Download: New_York-2021-A05604-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5604

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                    February 22, 2021
                                       ___________

        Introduced  by  M.  of  A.  FITZPATRICK, J. M. GIGLIO, MORINELLO, SALKA,
          TAGUE -- Multi-Sponsored by -- M. of A.  BARCLAY,  HAWLEY,  MANKTELOW,
          McDONOUGH  -- read once and referred to the Committee on Real Property
          Taxation

        AN ACT to amend the real property tax law, in relation to exemption from
          taxation of alterations and improvements to multiple dwellings

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

     1    Section  1. The opening paragraph of paragraph (a) of subdivision 1 of
     2  section 489 of the real property tax law, as amended by 1 of item RRR of
     3  subpart B of part XXX of chapter 58 of the laws of 2020, is  amended  to
     4  read as follows:
     5    Any  city  to which the multiple dwelling law or the mutiple residence
     6  law is applicable, acting through its local legislative  body  or  other
     7  governing  agency,  is hereby authorized and empowered, to and including
     8  January first, two thousand twenty-one, to adopt and amend local laws or
     9  ordinances providing that any increase in  assessed  valuation  of  real
    10  property  shall  be exempt from taxation for local purposes, as provided
    11  herein, to the extent such increase results from:
    12    § 2. This act shall take effect immediately.




         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08142-01-1