S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2196
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                   January 14, 2013
                                      ___________
       Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
         printed to be committed to the Committee on Aging
       AN ACT to amend the real property tax law, in relation to certain calcu-
         lations for enhanced STAR
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.    Subdivision 9-b of section 425 of the real property tax
    2  law is amended by adding a new paragraph (e) to read as follows:
    3    (E) NOTWITHSTANDING THE FOREGOING PROVISIONS OF THIS  SUBDIVISION,  AT
    4  THE  TIME  OF  SALE  OF A PARCEL OF REAL PROPERTY WITH THE ENHANCED STAR
    5  EXEMPTION, IF A PURCHASER IS NOT ENTITLED TO SUCH EXEMPTION,  THEN  SUCH
    6  PURCHASER  SHALL  MAKE  THE  MUNICIPALITY WHOLE BY PAYING THE DIFFERENCE
    7  BETWEEN THE SELLER'S TAX LIABILITY AND THAT DUE FROM THE PURCHASER BASED
    8  ON SUCH PURCHASER'S TAX LIABILITY. THE PURCHASER SHALL PAY THE PRO-RATED
    9  PORTION OF THE NON-ENHANCED STAR EXEMPTION TAX LIABILITY.
   10    S 2. This act shall take effect immediately; provided,  however,  that
   11  effective immediately, the addition, amendment and/or repeal of any rule
   12  or regulation necessary for the implementation of this act on its effec-
   13  tive  date  is  authorized  and  directed to be made and completed on or
   14  before such effective date.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD05325-01-3