Bill Text: NY S00548 | 2017-2018 | General Assembly | Introduced

New York Senate Bill 548 (Prior Session Legislation)

Introduced

Bill Title: Provides that the lease or conveyance of oil and gas rights shall not, without other evidence of value, such as actual land sale prices, constitute grounds for increasing assessments.

Spectrum: Partisan Bill (Republican 4-0)

Status: (Introduced - Dead) 2018-01-03 - REFERRED TO LOCAL GOVERNMENT [S00548 Detail]

Download: New_York-2017-S00548-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                           548
                               2017-2018 Regular Sessions
                    IN SENATE
                                       (Prefiled)
                                     January 4, 2017
                                       ___________
        Introduced  by  Sens. YOUNG, GALLIVAN, O'MARA, RANZENHOFER -- read twice
          and ordered printed, and when printed to be committed to the Committee
          on Local Government
        AN ACT to amend the real property tax law, in relation to the  lease  or
          conveyance  of  oil and gas rights in lands and grounds for increasing
          assessments
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1. Subdivision 2 of section 596 of the real property tax law,
     2  as added by chapter 846 of the laws of  1981,  is  amended  to  read  as
     3  follows:
     4    2.  Prior  to  production,  a lease or other conveyance of oil and gas
     5  rights in land which is otherwise entitled to an  exemption  from  taxa-
     6  tion,  in  whole  or in part, shall not be considered dispositive by the
     7  assessor in determining whether that land is  used  exclusively  for  an
     8  exempt  purpose. A lease or other conveyance of oil and gas rights shall
     9  not, without other evidence of value, such as actual land  sale  prices,
    10  constitute grounds to increase an assessment.
    11    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05887-01-7