Bill Text: NY A08606 | 2023-2024 | General Assembly | Introduced

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Bill Title: Imposes a surcharge of twenty percent additional tax on properties owned by persons or businesses from states which have financed the transportation of persons into such city for the purpose of making them a public charge; applies to cities with a population of one million or more.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-12 - referred to real property taxation [A08606 Detail]

Download: New_York-2023-A08606-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          8606

                   IN ASSEMBLY

                                    January 12, 2024
                                       ___________

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

        AN  ACT  to  amend  the real property tax law, in relation to imposing a
          surcharge on certain properties in a city with  a  population  of  one
          million or more

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

     1    Section 1. The real property tax  law  is  amended  by  adding  a  new
     2  section 307-b to read as follows:
     3    § 307-b. Additional  tax  on  certain  real  property in a city with a
     4  population of one million or more. 1. Notwithstanding any  provision  of
     5  any  general,  specific  or  local  law to the contrary, any city with a
     6  population of one million or more is hereby authorized and empowered  to
     7  adopt  and  amend local laws in accordance with this section imposing an
     8  additional tax on certain real property. Such  surcharge  shall  be  the
     9  imposition  of a tax rate which is twenty percent higher than the other-
    10  wise applicable tax rate.
    11    2. (a) A local law enacted pursuant to this section may provide for  a
    12  surcharge  on  the  real  property  tax on any commercial or residential
    13  property of any class in which majority ownership is held by a  resident
    14  or  residents  of, or a business, partnership, firm or corporation which
    15  is incorporated or has its main offices  in,  a  state  which  has  been
    16  determined by the department of finance to have financed the transporta-
    17  tion  of  persons into the city for the purpose of making such persons a
    18  public charge, within the past three years.
    19    (b) Except as otherwise provided in this  section,  such  tax  may  be
    20  imposed,  administered,  collected  and  enforced by the commissioner of
    21  finance of such city by such means and in such  manner  as  other  taxes
    22  that  are  now  imposed,  administered,  collected  and enforced by such
    23  commissioner in accordance with the charter or  administrative  code  of
    24  any such city or as otherwise may be provided by any such local law.
    25    3. Any property or owner thereof which is subject to a surcharge under
    26  this section shall be ineligible for any tax abatement, reduction credit
    27  or  payment in lieu of taxes, except for: a refund of any overpayment of

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14016-01-4
        A. 8606                             2

     1  taxes; a refund due to a redetermination of a property's assessed value;
     2  credits for the construction low-income or  permanently  rent  regulated
     3  property;  or  for  costs  of capital improvements relating to energy or
     4  water efficiency.
     5    4.  The  department  of  finance  of any city with a population of one
     6  million or more, in coordination with the state department  of  taxation
     7  and finance, shall annually determine which states, if any, financed the
     8  transportation  of  persons into the city for the purpose of making such
     9  persons a public charge. The  department  of  finance  shall  promulgate
    10  rules to carry out the provisions of this section.
    11    § 2. This act shall take effect immediately.