Bill Text: NY S02746 | 2015-2016 | General Assembly | Amended
Bill Title: Provides for the imposition of a fine for the failure of a cooperative apartment corporation to credit the STAR exemption to the tenant-stockholders thereof.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2016-01-15 - PRINT NUMBER 2746A [S02746 Detail]
Download: New_York-2015-S02746-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 2746--A 2015-2016 Regular Sessions IN SENATE January 28, 2015 ___________ Introduced by Sen. HOYLMAN -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government -- recom- mitted to the Committee on Local Government in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the real property tax law, in relation to providing for the imposition of a civil penalty for the failure of a cooperative apartment corporation to credit the STAR exemption to the tenant- stockholders thereof and for the recoupment by such tenant-stockhold- ers of amounts due them The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subparagraph (iii) of paragraph (k) of subdivision 2 of 2 section 425 of the real property tax law is amended by adding a new 3 clause (C) to read as follows: 4 (C)(I) The failure of any cooperative apartment corporation to comply 5 with the provisions of this subparagraph shall be punishable by a civil 6 penalty not to exceed five hundred dollars for each violation. Such 7 civil penalty may be recovered in a court of competent jurisdiction by 8 the county attorney of the county in which the subject real property is 9 located; provided that such penalty may be recovered by the corporation 10 counsel of a city if the subject real property is located in a county 11 wholly contained within a city. 12 (II) Commencing sixty days after a cooperative apartment corporation's 13 receipt of a tax bill and, upon such failure, each tenant-stockholder 14 denied such credit or payment may withhold from the cooperative apart- 15 ment corporation any payments due from such tenant-stockholder to such 16 cooperative apartment corporation for the following month or months 17 until such credit or payment has been fully recouped by such tenant- 18 stockholder. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD05480-02-6
