Bill Text: NY A07153 | 2013-2014 | General Assembly | Introduced

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Bill Title: Authorizes the city of New York to implement real property exemption provisions for certain assessment rolls related to the Foundation for Sephardic Studies, Inc.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2013-05-22 - signed chap.37 [A07153 Detail]

Download: New_York-2013-A07153-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7153
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                      May 2, 2013
                                      ___________
       Introduced  by  M.  of  A.  CYMBROWITZ  -- read once and referred to the
         Committee on Ways and Means
       AN ACT to authorize the city of New York to implement provisions related
         to the Foundation for Sephardic Studies, Inc.
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1. The city of New York is hereby authorized to implement the
    2  provisions of this act, so to prevent the sale and/or foreclosure of tax
    3  liens on a property owned by  Foundation  for  Sephardic  Studies,  Inc.
    4  Notwithstanding  any other provision of law to the contrary, the commis-
    5  sioner of the New York city department of finance is  hereby  authorized
    6  to  accept from Foundation for Sephardic Studies, Inc., a not-for-profit
    7  corporation, an application  for  exemption  from  real  property  taxes
    8  pursuant  to  section  420-a  of  the real property tax law for the 2003
    9  through 2008 assessment rolls, for the parcel owned by such  corporation
   10  in the city of New York, borough of Brooklyn, designated as block 07089,
   11  lot  07  in such borough. If accepted, the application shall be reviewed
   12  as if it had been received on or before the taxable status  date  estab-
   13  lished for such assessment rolls.
   14    If satisfied that such corporation would otherwise be entitled to such
   15  exemption  if such corporation had filed an application for exemption by
   16  the appropriate taxable status date, the commissioner of  the  New  York
   17  city  department  of  finance,  upon approval by the city council of the
   18  city of New York, may grant exemption from all taxation with respect  to
   19  the subject tax rolls due and owing by such corporation on the effective
   20  date of this act and cancel taxes, fines, penalties and interest remain-
   21  ing  unpaid,  and  make appropriate correction of the subject assessment
   22  rolls.
   23    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10753-01-3