Bill Text: NY S05584 | 2015-2016 | General Assembly | Amended

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Bill Title: Relates to municipal monitoring of compliance with requirements of local laws granting certain tax exemptions.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 0000-00-00 - [S05584 Detail]

Download: New_York-2015-S05584-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                         5584--A
                               2015-2016 Regular Sessions
                    IN SENATE
                                      May 15, 2015
                                       ___________
        Introduced  by  Sen.  AVELLA -- read twice and ordered printed, and when
          printed to be committed to the Committee on Housing, Construction  and
          Community  Development  --  recommitted  to  the Committee on Housing,
          Construction and Community Development 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  municipal
          monitoring  of  compliance  with  requirements  of local laws granting
          certain tax exemptions
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Section  421-a of the real property tax law is amended by
     2  adding a new subdivision 18 to read as follows:
     3    18. A municipality which has granted tax exemption status to a project
     4  under this section shall monitor compliance  with  the  requirements  of
     5  this  section  if  any  local  law establishes such exemption.   Munici-
     6  palities shall retain records documenting such compliance.
     7    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09643-02-6