Bill Text: NY A07771 | 2017-2018 | General Assembly | Introduced
Bill Title: Relates to preferential rent for senior citizens or persons with disabilities.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2018-01-03 - referred to aging [A07771 Detail]
Download: New_York-2017-A07771-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 7771 2017-2018 Regular Sessions IN ASSEMBLY May 15, 2017 ___________ Introduced by M. of A. MOSLEY -- read once and referred to the Committee on Aging AN ACT to amend the real property tax law, in relation to the addition of preferential rent for senior citizens or persons with disabilities rent increase exemptions The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph e of subdivision 1, subdivision 2 and paragraphs 2 c, d, and e of subdivision 3 of section 467-b of the real property tax 3 law, paragraph e of subdivision 1 as amended by chapter 555 of the laws 4 of 1977, subdivision 2 as amended by chapter 747 of the laws of 1985, 5 paragraph (c) of subdivision 2 as added and subparagraph 3 of paragraph 6 d and subparagraph 3 of paragraph e of subdivision 3 as amended by chap- 7 ter 553 of the laws of 2015, paragraph (d) of subdivision 2 as added by 8 chapter 343 of the laws of 2016, paragraphs c, d and e of subdivision 3 9 as amended by chapter 188 of the laws of 2005, are amended to read as 10 follows: 11 e. "Increase in maximum rent, preferential rent or legal regulated 12 rent" means any increase in the maximum rent, preferential rent or the 13 legal regulated rent for the dwelling unit in question pursuant to the 14 applicable rent control law, rent stabilization law or to the emergency 15 tenant protection act of nineteen seventy-four, respectively, or such 16 classes of increase thereunder as may be specified in a local law, ordi- 17 nance or resolution enacted pursuant to this section, over such base 18 period rent as shall be provided therein or an exemption from the maxi- 19 mum rent or legal regulated rent as specified in paragraph c or d of 20 subdivision three of this section. Preferential rent for purposes of 21 this section shall mean the same as paragraph fourteen of subdivision c 22 of section 26-511 of the administrative code of the city of New York; 23 2. The governing body of any municipal corporation is hereby author- 24 ized and empowered to adopt, after public hearing, in accordance with EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD09829-01-7A. 7771 2 1 the provisions of this section, a local law, ordinance or resolution 2 providing for the abatement of taxes of said municipal corporation 3 imposed on real property containing a dwelling unit as defined herein by 4 one of the following amounts: (a) where the head of the household does 5 not receive a monthly allowance for shelter pursuant to the social 6 services law, an amount not in excess of that portion of any increase in 7 maximum rent, preferential rent or legal regulated rent which causes 8 such maximum rent, preferential rent or legal regulated rent to exceed 9 one-third of the combined income of all members of the household; or 10 (b) where the head of the household receives a monthly allowance for 11 shelter pursuant to the social services law, an amount not in excess of 12 that portion of any increase in maximum rent, preferential rent or legal 13 regulated rent which is not covered by the maximum allowance for shelter 14 which such person is entitled to receive pursuant to the social services 15 law. 16 (c) Provided, however, that in a city of a population of one million 17 or more, where the head of household has been granted a rent increase 18 exemption order that is in effect as of January first, two thousand 19 fifteen or takes effect on or before July first, two thousand fifteen, 20 the amount determined by paragraph (a) of this subdivision shall be an 21 amount not in excess of the difference between the maximum rent, prefer- 22 ential rent or legal regulated rent and the amount specified in such 23 order, as adjusted by any other provision of this section. 24 (d) (1) Provided, however, that in a city with a population of one 25 million or more, a head of the household who has received a rent 26 increase exemption order that has expired and who, upon renewal applica- 27 tion for the period commencing immediately after such expiration, is 28 determined to be ineligible for a rent increase exemption order because 29 the combined income of all members of the household exceeds the maximum 30 amount allowed by this section or the maximum rent, preferential rent or 31 legal regulated rent does not exceed one-third of the combined income of 32 all members of the household, may submit a new application during the 33 following calendar year, and if such head of the household receives a 34 rent increase exemption order that commences during such calendar year, 35 the tax abatement amount for such order shall be calculated as if such 36 prior rent increase exemption order had not expired. However, no tax 37 abatement benefits may be provided for the period of ineligibility. 38 (2) No head of the household may receive more than three rent increase 39 exemption orders calculated as if a prior rent increase exemption order 40 had not expired, as described in subparagraph one of this paragraph. 41 c. upon issuance of a tax abatement certificate as provided in subdi- 42 vision four of this section, the amount set forth in said certificate 43 shall be deducted from the legal maximum rent, legal preferential rent 44 or legal regulated rent chargeable for a dwelling unit of a head of the 45 household. 46 d. notwithstanding any other provision of law, when a head of the 47 household to whom a then current, valid tax abatement certificate has 48 been issued moves his principal residence from one dwelling unit to a 49 subsequent dwelling unit located within the same municipal corporation, 50 the head of the household may apply for a tax abatement certificate 51 relating to the subsequent dwelling unit, and such certificate may 52 provide that the head of the household shall be exempt from paying that 53 portion of the maximum rent, preferential rent or legal regulated rent 54 for the subsequent dwelling unit which is the least of the following:A. 7771 3 1 (1) the amount by which the rent for the subsequent dwelling unit 2 exceeds the last rent, as reduced, which the head of the household was 3 required to actually pay in the original dwelling unit; 4 (2) the last amount deducted from the maximum rent, preferential rent 5 or legal regulated rent pursuant to this section in the original dwell- 6 ing unit; or 7 (3) where the head of the household does not receive a monthly allow- 8 ance for shelter pursuant to the social services law, the amount by 9 which the maximum rent, preferential rent or legal regulated rent of the 10 subsequent dwelling unit exceeds one-third of the combined income of all 11 members of the household, except that this subparagraph shall not apply 12 to a head of the household who has been granted a rent increase 13 exemption order that is in effect as of January first, two thousand 14 fifteen or takes effect on or before July first, two thousand fifteen. 15 e. notwithstanding any other provision of law, when a head of the 16 household to whom a then current, valid tax abatement certificate has 17 been issued moves his principal residence from one dwelling unit subject 18 to the provisions of articles II, IV, V or XI of the private housing 19 finance law to a subsequent dwelling unit subject to either the local 20 emergency housing rent control law or to the emergency tenant protection 21 act of nineteen seventy-four which is located within the same municipal 22 corporation, the head of the household may apply for a tax abatement 23 certificate relating to the subsequent dwelling unit, and such certif- 24 icate may provide that the head of the household shall be exempt from 25 paying that portion of the maximum rent, preferential rent or legal 26 regulated rent for the subsequent dwelling unit which is the least of 27 the following: 28 (1) the amount by which the rent for the subsequent dwelling unit 29 exceeds the last rent, as so reduced, which the head of the household 30 was required to actually pay in the original dwelling unit; 31 (2) the most recent amount so deducted from the maximum rent, prefer- 32 ential rent or legal regulated rent in the original dwelling unit; or 33 (3) where the head of the household does not receive a monthly allow- 34 ance for shelter pursuant to the social services law, the amount by 35 which the maximum rent, preferential rent or legal regulated rent of the 36 subsequent dwelling unit exceeds one-third of the combined income of all 37 members of the household, except that this subparagraph shall not apply 38 to a head of the household who has been granted a rent increase 39 exemption order that is in effect as of January first, two thousand 40 fifteen or takes effect on or before July first, two thousand fifteen. 41 § 2. Paragraph e of subdivision 1, subdivision 2, paragraph c of 42 subdivision 3 and subdivisions 4, 6 and 8 of section 467-b of the real 43 property tax law, as added by chapter 689 of the laws of 1972, subdivi- 44 sion 2 as amended by chapter 553 of the laws of 2015 and paragraph c of 45 subdivision 3 as amended by chapter 188 of the laws of 2005, are amended 46 to read as follows: 47 e. "Increase in preferential rent or maximum rent" means any increase 48 in the preferential rent or maximum rent for the dwelling unit in ques- 49 tion pursuant to the applicable rent stabilization or rent control law 50 respectively, or such classes of increase thereunder as may be specified 51 in a local law, ordinance or resolution enacted pursuant to this 52 section, over such base period rent as shall be provided therein. Pref- 53 erential rent for purposes of this section shall mean the same as para- 54 graph fourteen of subdivision c of section 26-511 of the administrative 55 code of the city of New York;A. 7771 4 1 2. The governing body of any city, town or village is hereby author- 2 ized and empowered to adopt, after public hearing, in accordance with 3 the provisions of this section, a local law, ordinance or resolution 4 providing for the abatement of taxes of said municipal corporation 5 imposed on real property containing a dwelling unit as defined herein by 6 an amount not in excess of that portion of any increase in preferential 7 rent or maximum rent which causes such preferential rent or maximum rent 8 to exceed one-third of the combined income of all members of the house- 9 hold, except that in a city of a population of one million or more where 10 the head of the household has been granted a rent increase exemption 11 order that is in effect as of January first, two thousand fifteen or 12 takes effect on or before July first, two thousand fifteen, such abate- 13 ment of taxes shall be in an amount not in excess of the difference 14 between the preferential rent, maximum rent or legal regulated rent and 15 the amount specified in such order, as adjusted by any other provision 16 of this section. 17 c. upon issuance of a tax abatement certificate as provided in subdi- 18 vision four of this section, the amount of increase in preferential or 19 maximum rent set forth in said certificate shall be deducted from the 20 legal preferential rent or maximum rent chargeable for a dwelling unit 21 of a head of the household. 22 4. The head of the household must apply each year to the appropriate 23 rent control agency for a tax abatement certificate on a form prescribed 24 by said agency. A tax abatement certificate setting forth an amount not 25 in excess of the increase in preferential rent or maximum rent for the 26 taxable period shall be issued by said agency to each head of the house- 27 hold who is found to be eligible under this section on or before the 28 last date prescribed by law for the payment of the taxes or the first 29 installment thereof of any city, town or village which has granted an 30 abatement of taxes. Copies of such certificate shall be issued to the 31 owner of the real property containing the dwelling unit of the head of 32 the household and to the collecting officer charged with the duty of 33 collecting the taxes of each city, town or village which has granted the 34 abatement of taxes authorized by this section. 35 6. The portion of the increase in preferential or maximum rent for the 36 taxable period set forth in a tax abatement certificate shall be 37 deducted from the total taxes levied by or on behalf of the city, town 38 or village which has granted such abatement on real property containing 39 the dwelling unit of a head of the household to whom the certificate has 40 been issued. In the event that both a town and a village included there- 41 in grant such abatement, such deduction for properties located in the 42 village shall be made first from taxes levied by or on behalf of the 43 village and any excess thereof shall be deducted from town taxes. 44 8. Where a tax abatement certificate has been issued to a head of the 45 household as authorized by a local law, ordinance or resolution adopted 46 pursuant to this section and the landlord collects or attempts to 47 collect the increase in the preferential rent or maximum rent for a 48 dwelling unit occupied by such head of the household, the amount of such 49 abatement shall be deemed a rent overcharge under the applicable rent 50 stabilization or rent control law respectively. 51 § 3. Paragraphs h and i of subdivision 1 and subdivisions 3, 5, 6, 7, 52 and 8 of section 467-c of the real property tax law, paragraph h of 53 subdivision 1 and paragraph b of subdivision 3 as amended and paragraph 54 i of subdivision 1 as added by chapter 420 of the laws of 1991, subdivi- 55 sion 3 as amended by chapter 747 of the laws of 1985, subparagraph 3 of 56 paragraph a of subdivision 3 as added and subparagraph 3 of paragraph bA. 7771 5 1 of subdivision 3 and paragraph d of subdivision 3 as amended by chapter 2 553 of the laws of 2015, subparagraph 4 of paragraph a of subdivision 3 3 as added by chapter 343 of the laws of 2016, paragraph c of subdivision 4 3 as added by chapter 17 of the laws of 1987, subdivision 5 as amended 5 by chapter 538 of the laws of 1976 and subdivisions 6, 7 and 8 as added 6 by chapter 208 of the laws of 1975, are amended to read as follows: 7 h. "Increase in maximum rent or preferential rent" means any increase 8 in the maximum rent or preferential rent for the dwelling unit becoming 9 effective on or after the eligibility date, including capital assess- 10 ments and voluntary capital contributions but excluding any increase in 11 maximum rent or preferential rent attributable to gas or electrical 12 utility charges or an increase in dwelling space, services or equipment, 13 or an exemption from the maximum rent, preferential rent or legal regu- 14 lated rent as specified in paragraph b of subdivision three of this 15 section, provided, however, that with respect to any dwelling unit in a 16 dwelling which is or was subject to a mortgage insured or initially 17 insured by the federal government pursuant to section two hundred thir- 18 teen of the National Housing Act, as amended, "increase in maximum rent" 19 shall not include any increase in maximum rent attributable to capital 20 assessments or voluntary capital contributions. 21 i. "Maximum rent or preferential rent" means the maximum rent or pref- 22 erential rent, excluding gas and electric utility charges, which has 23 been authorized or approved by the commissioner or the supervising agen- 24 cy or the legal regulated rent established for the dwelling unit pursu- 25 ant to the provisions of either Article II, IV, V or XI of the private 26 housing finance law, or the rental established for a cooperatively owned 27 dwelling unit previously regulated pursuant to the provisions of Article 28 II, IV, V or XI of the private housing finance law; or such approved 29 rent for a dwelling unit in a dwelling subject to a mortgage insured or 30 initially insured by the federal government pursuant to section two 31 hundred thirteen of the National Housing Act, as amended; or such rent 32 established for a dwelling unit which was subject to a mortgage insured 33 or initially insured by the federal government pursuant to section two 34 hundred thirteen of the National Housing Act, as amended. Preferential 35 rent for purposes of this section shall mean the same as paragraph four- 36 teen of subdivision c of section 26-511 of the administrative code of 37 the city of New York. 38 3. Any such local law or ordinance shall provide that: a. an eligible 39 head of the household may obtain a rent increase exemption order/tax 40 abatement certificate entitling him to an exemption from increases in 41 the maximum rent or preferential rent otherwise payable in one of the 42 following amounts: 43 (1) where the eligible head of the household does not receive a month- 44 ly allowance for shelter pursuant to the social services law, the amount 45 by which increases in the maximum rent or preferential rent subsequent 46 to such person's eligibility date have resulted in the maximum rent or 47 preferential rent exceeding one-third of the combined income of all 48 members of the household for the taxable period, except that in no event 49 shall a rent increase exemption order/tax abatement certificate become 50 effective prior to January first, nineteen hundred seventy-six; or 51 (2) where the eligible head of the household receives a monthly allow- 52 ance for shelter pursuant to the social services law, an amount not 53 exceeding that portion of any increase in maximum rent or preferential 54 rent subsequent to such person's eligibility date which is not covered 55 by the maximum allowance for shelter which such person is entitled to 56 receive pursuant to the social services law.A. 7771 6 1 (3) provided, however, that in a city of a population of one million 2 or more, where the eligible head of the household has been granted a 3 rent increase exemption order as a person with a disability as defined 4 in paragraph m of subdivision one of this section that is in effect as 5 of January first, two thousand fifteen or takes effect on or before July 6 first, two thousand fifteen, the amount determined by subparagraph one 7 of this paragraph shall be an amount not in excess of the difference 8 between the maximum rent or preferential rent and the amount specified 9 in such order, as adjusted by any other provision of this section. 10 (4) (a) Provided, however, that in a city with a population of one 11 million or more, a head of the household who has received a rent 12 increase exemption order that has expired and who, upon renewal applica- 13 tion for the period commencing immediately after such expiration, is 14 determined to be ineligible for a rent increase exemption order because 15 the combined income of all members of the household exceeds the maximum 16 amount allowed by this section or the maximum rent, preferential rent or 17 legal regulated rent does not exceed one-third of the combined income of 18 all members of the household, may submit a new application during the 19 following calendar year, and if such head of the household receives a 20 rent increase exemption order that commences during such calendar year, 21 the tax abatement amount for such order shall be calculated as if such 22 prior rent increase exemption order had not expired. However, no tax 23 abatement benefits may be provided for the period of ineligibility. 24 (b) No head of the household may receive more than three rent increase 25 exemption orders calculated as if a prior rent increase exemption order 26 had not expired, as described in clause (a) of this subparagraph. 27 b. notwithstanding any other provision of law, when a head of the 28 household to whom a then current, valid tax abatement certificate has 29 been issued moves his principal residence from one dwelling unit subject 30 to this section, to the local emergency housing rent control law or to 31 the emergency tenant protection act of nineteen seventy-four to a subse- 32 quent dwelling unit which is subject to the provisions of articles II, 33 IV, V or XI of the private housing finance law or which is or was 34 subject to a mortgage insured or initially insured by the federal 35 government pursuant to section two hundred thirteen of the National 36 Housing Act, as amended, and which is located within the same municipal 37 corporation, the head of the household may apply for a tax abatement 38 certificate relating to the subsequent dwelling unit, subject to any 39 terms and conditions imposed by reason of any fund created under subdi- 40 vision eight of this section, and such certificate may provide that the 41 head of the household shall be exempt from paying that portion of the 42 maximum rent, preferential rent or legal regulated rent for the subse- 43 quent dwelling unit which is the least of the following: 44 (1) the amount by which the rent for the subsequent dwelling unit 45 exceeds the last rent, as so reduced, which the head of the household 46 was required to actually pay in the original dwelling unit; 47 (2) the most recent amount so deducted from the maximum rent, prefer- 48 ential rent or legal regulated rent in the original dwelling unit; or 49 (3) where the head of the household does not receive a monthly allow- 50 ance for shelter pursuant to the social services law, the amount by 51 which the maximum rent, preferential rent or legal regulated rent of the 52 subsequent dwelling unit exceeds one-third of the combined income of all 53 members of the household, except that this subparagraph shall not apply 54 to a head of the household who has been granted a rent increase 55 exemption order as a person with a disability as defined in paragraph m 56 of subdivision one of this section that is in effect as of JanuaryA. 7771 7 1 first, two thousand fifteen or takes effect on or before July first, two 2 thousand fifteen. 3 c. Notwithstanding any other provision of law, when a dwelling unit 4 subject to the provisions of article II, IV, V or XI of the private 5 housing finance law or subject to a mortgage insured or initially 6 insured by the federal government pursuant to section two hundred thir- 7 teen of the national housing act, as amended, is later reclassified by 8 order of the commissioner, the supervising agency or any other govern- 9 mental agency supervising such dwelling unit, or by operation of law to 10 a dwelling unit subject to any of the provisions of article II, IV, V or 11 XI of the private housing finance law, the rent stabilization law of 12 nineteen hundred sixty-nine of the city of New York or the emergency 13 tenant protection act of nineteen seventy-four, or when a dwelling unit 14 subject to such rent stabilization law or such emergency tenant 15 protection act, or subject to the emergency housing rent control law or 16 to the rent and rehabilitation law of the city of New York enacted 17 pursuant to the local emergency housing rent control act, is reclassi- 18 fied by order of the commissioner or the supervising agency or by opera- 19 tion of law to a dwelling unit subject to any of the aforementioned 20 provisions of the private housing finance law or subject to a mortgage 21 insured or initially insured by the federal government pursuant to 22 section two hundred thirteen of the national housing act, as amended, a 23 head of the household who held or holds a valid rent increase exemption 24 order at the time of the reclassification shall be issued a rent 25 increase exemption order under applicable law continuing the previous 26 exemption notwithstanding the reclassification of the dwelling unit. 27 d. notwithstanding any other provision of law to the contrary, where a 28 eligible head of the household holds a current, valid rent increase 29 exemption order/tax abatement certificate and, after the effective date 30 of this paragraph, there is a permanent decrease in income in an amount 31 which exceeds twenty percent of such income as represented in such 32 eligible head of household's last approved application for a rent 33 increase exemption order/tax abatement certificate or for renewal there- 34 of, such eligible head of the household may apply for a redetermination 35 of the amount set forth therein. Upon application, such amount shall be 36 redetermined so as to re-establish the ratio of adjusted rent to income 37 which existed at the time of approval of such eligible head of the 38 household's last application for a rent increase exemption order/tax 39 abatement certificate or for renewal thereof; provided, however, that in 40 no event shall the amount of the adjusted rent be redetermined to be (i) 41 in the case of an eligible head of the household who does not receive a 42 monthly allowance for shelter pursuant to the social services law, less 43 than one-third of income unless such head of the household has been 44 granted a rent increase exemption order as a person with a disability as 45 defined in paragraph m of subdivision one of this section that is in 46 effect as of January first, two thousand fifteen or takes effect on or 47 before July first, two thousand fifteen; or (ii) in the case of an 48 eligible head of the household who receives a monthly allowance for 49 shelter pursuant to the social services law, less than the maximum 50 allowance for shelter which such eligible head of the household is enti- 51 tled to receive pursuant to law. For purposes of this paragraph, a 52 decrease in income shall not include any decrease in income resulting 53 from the manner in which income is calculated pursuant to any amendment 54 to paragraph f of subdivision one of this section made on or after April 55 first, nineteen hundred eighty-seven. For purposes of this paragraph, 56 "adjusted rent" shall mean maximum rent or preferential rent less theA. 7771 8 1 amount set forth in a rent increase exemption order/tax abatement 2 certificate. 3 5. Any such local law or ordinance may provide that the effective date 4 of a rent increase exemption order/tax abatement certificate shall be 5 the date of the first increase in maximum rent or preferential rent 6 becoming effective after the applicant's eligibility date except that in 7 no event shall a rent increase exemption order/tax abatement certificate 8 become effective prior to January first, nineteen hundred seventy-six. 9 6. Any such local law or ordinance may provide that upon receipt of a 10 copy of the rent increase exemption order/tax abatement certificate, the 11 housing company managing the dwelling unit of the eligible head of the 12 household shall promptly accord to the eligible head of the household 13 covered by such order/certificate the appropriate credit against the 14 monthly maximum rent or preferential rent then or thereafter payable. To 15 the extent the full amount of such credit has not been accorded for any 16 past period since the effective date specified in the order/certificate, 17 the housing company shall credit the total aggregate amount not so cred- 18 ited to the monthly maximum rent or preferential rent next payable or to 19 such subsequent monthly maximum rents as the supervising agency may 20 authorize. It shall be illegal to collect any amount for which a rent 21 increase exemption order/tax abatement certificate provides credit or to 22 withhold credit for any such amounts already collected, and collection 23 or retention of any such amount for a dwelling unit occupied by such 24 eligible head of the household shall be deemed a rent overcharge, and 25 upon conviction therefor the housing company and its directors and any 26 employee and any agent responsible therefor shall be guilty of a misde- 27 meanor, punishable by a fine not to exceed one thousand dollars or 28 imprisonment not to exceed six months, or both. 29 7. Any such local law or ordinance may provide that in order to obtain 30 the tax benefits to which it is entitled under this section, a housing 31 company must file with the collecting officer charged with the duty of 32 collecting taxes of the municipality a sworn application, in such form 33 as such officer may prescribe, for any quarterly period in which the 34 housing company has accorded an eligible head of the household an 35 exemption hereunder from the payment of the maximum rent or preferential 36 rent. Subject to prior or subsequent verification thereof, the collect- 37 ing officer shall credit the total amount of such exemptions actually 38 accorded to occupants of dwelling units contained in the property 39 against the real property taxes otherwise payable with respect to the 40 property. The housing company shall attach to such application copies of 41 all rent increase exemption orders/tax abatement certificates issued to 42 eligible heads of the household residing in dwelling units in such real 43 property. 44 8. Any such local law or ordinance may provide that in the event that 45 the real property of a housing company containing one or more dwelling 46 units shall be totally exempt from local and municipal real property 47 taxes for any fiscal year as a result of the exemptions from maximum 48 rent or preferential rent credited pursuant to this section, or other- 49 wise, such municipality may make or contract to make payments to a hous- 50 ing company in an amount not exceeding the amount necessary to reimburse 51 the housing company for the total dollar amount of all exemptions from 52 the payment of the maximum rent or preferential rent accorded pursuant 53 to this section to eligible heads of the household residing in dwelling 54 units in such real property. 55 A municipality may create and establish a fund in order to provide for 56 the payments made in accordance with contracts entered into pursuant toA. 7771 9 1 this subdivision. There may be paid into such fund (1) all of the rental 2 surcharges collected by the municipality from housing companies organ- 3 ized and existing pursuant to Articles II, IV, V and XI of the private 4 housing finance law and (2) any moneys appropriated or otherwise made 5 available by the municipality for the purpose of such fund. 6 § 4. This act shall take effect immediately; provided that the amend- 7 ments to section 467-b of the real property tax law made by section one 8 of this act shall be subject to the expiration and reversion of such 9 section pursuant to section 17 of chapter 576 of the laws of 1974, as 10 amended, when upon such date the provisions of section two of this act 11 shall take effect.