Bill Text: NY A07448 | 2021-2022 | General Assembly | Introduced

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Bill Title: Decreases the amount of the late charge of five percent to one-half percent for the overdue tax payment; authorizes a municipality to provide any resident the opportunity for the forbearance of certain delinquent taxes upon a hardship declaration.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-05 - referred to real property taxation [A07448 Detail]

Download: New_York-2021-A07448-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          7448

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                      May 10, 2021
                                       ___________

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

        AN ACT to amend the real property tax law, in relation to  the  forbear-
          ance of certain delinquent taxes; and providing for the repeal of such
          provisions upon expiration thereof

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

     1    Section 1. Subdivision 7 of section 1184 of the real property tax law,
     2  as amended by chapter 579 of the laws of 1995, is  amended  to  read  as
     3  follows:
     4    7.  Interest  and  penalties. Interest on the total amount of eligible
     5  delinquent taxes, less the amount of the down payment made by the eligi-
     6  ble owner, if any is required, shall be that amount as determined pursu-
     7  ant to section nine hundred twenty-four-a of this chapter, or such other
     8  law as may be applicable. The rate of interest in effect on the date the
     9  agreement is signed shall remain  constant  during  the  period  of  the
    10  agreement.  If  an  installment  is not paid on or before the date it is
    11  due, interest shall be added at the applicable rate for  each  month  or
    12  portion  thereof  until paid. In addition, if an installment is not paid
    13  by the end of the fifteenth calendar day after the payment due  date,  a
    14  late  charge  of [five] one-half percent of the overdue payment shall be
    15  added. Provided, however, that any municipality may provide to any resi-
    16  dent an opportunity for a  forbearance  of  payments  pursuant  to  this
    17  subdivision  for any person or entity facing a financial hardship due to
    18  the COVID-19 pandemic. Such forbearance of payments shall commence  upon
    19  resident's  filing  of  any  hardship  declaration pursuant to part B of
    20  chapter three hundred eighty-one of the laws of two thousand twenty.
    21    § 2. This act shall take effect immediately and shall  expire  and  be
    22  deemed repealed December 31, 2021.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08369-02-1