Bill Text: NY S01995 | 2021-2022 | General Assembly | Introduced


Bill Title: Exempts real property owned or leased by a cooperative corporation or on a condominium basis located in a city with a population of one million or more from certain assessment provisions.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2021-01-16 - REFERRED TO LOCAL GOVERNMENT [S01995 Detail]

Download: New_York-2021-S01995-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                          1995

                               2021-2022 Regular Sessions

                    IN SENATE

                                    January 16, 2021
                                       ___________

        Introduced  by  Sen. JACKSON -- 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  exempting
          certain  real property owned or leased by a cooperative corporation or
          on a condominium basis from certain assessment provisions

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

     1    Section  1.  Section  581  of  the real property tax law is amended by
     2  adding a new subdivision 5 to read as follows:
     3    5. Notwithstanding any provision of law to the contrary, real property
     4  owned or leased by a cooperative corporation or on a  condominium  basis
     5  located  in a city with a population of one million or more shall not be
     6  subject to the provisions of this section.
     7    § 2. This act shall take effect immediately and shall apply to assess-
     8  ment rolls prepared on the basis of taxable status dates occurring on or
     9  after such effective date.






         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02307-01-1
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