Bill Text: NY A06543 | 2019-2020 | General Assembly | Introduced
Bill Title: Excludes water system property owned by water-works corporations from special franchise tax.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2020-01-08 - referred to real property taxation [A06543 Detail]
Download: New_York-2019-A06543-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 6543 2019-2020 Regular Sessions IN ASSEMBLY March 11, 2019 ___________ Introduced by M. of A. LAVINE -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to excluding water system property owned by water-works corporations from special franchise tax The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 17 of section 102 of the real property tax law, 2 as amended by chapter 569 of the laws of 1996, is amended to read as 3 follows: 4 17. "Special franchise" means the franchise, right, authority or 5 permission to construct, maintain or operate in, under, above, upon or 6 through any public street, highway, water or other public place mains, 7 pipes, tanks, conduits, wires or transformers, with their appurtenances, 8 for conducting [water,] steam, light, power, electricity, gas or other 9 substance, excluding water. For purposes of assessment and taxation a 10 special franchise shall include the value of the tangible property situ- 11 ated in, under, above, upon or through any public street, highway, water 12 or other public place in connection therewith. The term special fran- 13 chise shall not include central office equipment or station equipment 14 (except public telephone terminal equipment) which first appears on 15 assessment rolls prepared on the basis of taxable status dates occurring 16 on or after October first, nineteen hundred ninety-five and which is 17 owned by a telephone company as defined in paragraph (d) of subdivision 18 twelve of this section, or owned by a telephone corporation as defined 19 in subdivision seventeen of section two of the public service law and 20 certified by the public service commission under section ninety-nine of 21 such law, nor shall it include property of a municipal corporation, 22 public benefit corporation or special district, nor shall it include a 23 crossing less than two hundred fifty feet in length of a public street, 24 highway, water or other public place outside a city or village, unless EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD10244-04-9A. 6543 2 1 such crossing be the continuation of an occupancy of another public 2 street, highway, water or other public place. The term special fran- 3 chise shall also not include any water system property owned by a 4 water-works corporation as such terms are defined in section two of the 5 public service law. 6 § 2. The taxable assessed valuation of any water system special fran- 7 chise property, as defined in subdivision 17 of section 102 of the real 8 property tax law, owned by a water-works corporation that is used for 9 conducting water on assessment rolls required by law to be completed and 10 filed on or after January first, two thousand nineteen shall not exceed 11 the taxable assessed valuation of such real property on final assessment 12 rolls completed and filed on or after January first, two thousand eigh- 13 teen; the taxable assessed valuation of such property on assessment 14 rolls required by law to be completed and filed on or after January 15 first, two thousand twenty shall not exceed eighty percent of the taxa- 16 ble assessed valuation of such real property on final assessment rolls 17 completed and filed on or after January first, two thousand eighteen; 18 the taxable assessed valuation of such property on assessment rolls 19 required by law to be completed and filed on or after January first, two 20 thousand twenty-one shall not exceed sixty percent of the taxable 21 assessed valuation of such real property on final assessment rolls 22 completed and filed on or after January first, two thousand eighteen; 23 the taxable assessed valuation of such property on assessment rolls 24 required by law to be completed and filed on or after January first, two 25 thousand twenty-two shall not exceed forty percent of the taxable 26 assessed valuation of such real property on final assessment rolls 27 completed and filed on or after January first, two thousand eighteen; 28 and the taxable assessed valuation of such property on assessment rolls 29 required by law to be completed and filed on or after January first, two 30 thousand twenty-three shall not exceed twenty percent of the taxable 31 assessed valuation of such real property on final assessment rolls 32 completed and filed on or after January first, two thousand eighteen. 33 § 3. For purposes of this act, any tax relief realized by a water- 34 works corporation shall be used to reduce current water rates and offset 35 future water rate increases. 36 § 4. This act shall take effect immediately; provided, however, that 37 section one of this act shall take effect January 1, 2024.