Bill Text: NY S05468 | 2015-2016 | General Assembly | Amended
Bill Title: Relates to partial tax abatement for residential real property held in the cooperative or condominium form of ownership in New York City.
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: (Introduced - Dead) 0000-00-00 - [S05468 Detail]
Download: New_York-2015-S05468-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 5468--A 2015-2016 Regular Sessions IN SENATE May 14, 2015 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Cities -- 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 partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having 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. Paragraphs (a) and (b) of subdivision 2 of section 467-a of 2 the real property tax law, as amended by chapter 4 of the laws of 2013, 3 are amended to read as follows: 4 (a) In a city having a population of one million or more, dwelling 5 units owned by unit owners who, as of the applicable taxable status 6 date, own no more than three dwelling units in any one property held in 7 the condominium form of ownership, shall be eligible to receive a 8 partial abatement of real property taxes, as set forth in paragraphs 9 (c), (d), (d-1), (d-2), (d-3), (d-4), (d-5) and (d-6) of this subdivi- 10 sion; provided, however, that a property held in the condominium form of 11 ownership that is receiving complete or partial real property tax 12 exemption or tax abatement pursuant to any other provision of this chap- 13 ter or any other state or local law, except as provided in paragraph (f) 14 of this subdivision, shall not be eligible to receive a partial abate- 15 ment pursuant to this section; and provided, further, that sponsors 16 shall not be eligible to receive a partial abatement pursuant to this 17 section; and provided, further, that in the fiscal [year] years commenc- 18 ing in calendar years two thousand twelve, two thousand thirteen, [or] 19 two thousand fourteen, two thousand fifteen, two thousand sixteen or two 20 thousand seventeen no more than a maximum of three dwelling units owned 21 by any unit owner in a single building, one of which must be the primary EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD10965-03-5
