Bill Text: NY A06319 | 2011-2012 | General Assembly | Introduced

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Bill Title: Extends tax benefits for the rehabilitation of single room occupancy housing (SROs).

Spectrum: Moderate Partisan Bill (Democrat 13-2)

Status: (Passed) 2011-07-18 - signed chap.140 [A06319 Detail]

Download: New_York-2011-A06319-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6319
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                    March 14, 2011
                                      ___________
       Introduced by M. of A. LINARES -- Multi-Sponsored by -- M. of A. GIBSON,
         MCDONOUGH,  MENG,  RIVERA,  N., STEVENSON -- read once and referred to
         the Committee on Real Property Taxation
       AN ACT to amend the real property tax law, in relation to extending  tax
         benefits for the rehabilitation of certain multiple dwellings used for
         single room occupancy
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subdivision 2 of section 488-a of  the  real  property  tax
    2  law,  as  amended by chapter 609 of the laws of 2006, is amended to read
    3  as follows:
    4    2. Local legislative action. Any city to which the  multiple  dwelling
    5  law  is  applicable,  acting through its local legislative body or other
    6  governing agency, is hereby authorized and empowered to adopt and  amend
    7  local  laws or ordinances up to and including December thirty-first, two
    8  thousand [eleven] FIFTEEN, to provide  that  any  increase  in  assessed
    9  valuation  of  eligible  real property shall be exempt from taxation for
   10  local purposes and to provide for the abatement  of  taxes  on  eligible
   11  real property, including the land, in accordance with this section.
   12    S 2. Paragraph (i) of subdivision 3 of section 488-a of the real prop-
   13  erty  tax law, as amended by chapter 609 of the laws of 2006, is amended
   14  to read as follows:
   15    (i) the eligible improvements are commenced after July first, nineteen
   16  hundred eighty, but prior to December thirty-first, two thousand  [elev-
   17  en] FIFTEEN, and are completed within thirty-six months of commencement;
   18    S 3. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
       A                                                          LBD10004-01-1