Bill Text: NY S05821 | 2009-2010 | General Assembly | Introduced


Bill Title: Authorizes cities and towns to establish community preservation funds, and to impose a tax on real property transfers to provide revenue to such funds.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-01-06 - REFERRED TO LOCAL GOVERNMENT [S05821 Detail]

Download: New_York-2009-S05821-Introduced.html
                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         5821
                              2009-2010 Regular Sessions
                                   I N  S E N A T E
                                     June 8, 2009
                                      ___________
       Introduced  by  Sen.  STEWART-COUSINS -- (at request of the Governor) --
         read twice and ordered printed, and when printed to  be  committed  to
         the Committee on Rules
       AN  ACT to amend the general municipal law and the environmental conser-
         vation law, in relation to authorizing towns and cities  to  establish
         community preservation funds; and to amend the tax law, in relation to
         authorizing  towns  and cities which establish such a fund to impose a
         tax on real estate transfers
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  The  general  municipal  law  is  amended by adding a new
    2  section 6-t to read as follows:
    3    S 6-T. COMMUNITY PRESERVATION FUNDS IN TOWNS AND CITIES. 1. AS USED IN
    4  THIS SECTION, THE FOLLOWING WORDS AND TERMS  SHALL  HAVE  THE  FOLLOWING
    5  MEANINGS:
    6    (A)  "COMMUNITY  PRESERVATION"  MEANS AND INCLUDES ANY OF THE PURPOSES
    7  OUTLINED IN SUBDIVISION FOUR OF THIS SECTION.
    8    (B) "COMMUNITY PRESERVATION FUND" OR "FUND" MEANS A COMMUNITY  PRESER-
    9  VATION FUND ESTABLISHED PURSUANT TO SUBDIVISION TWO OF THIS SECTION.
   10    (C)  "COMMUNITY PRESERVATION PROJECT PLAN" OR "PLAN" MEANS A COMMUNITY
   11  PRESERVATION PROJECT PLAN ESTABLISHED PURSUANT  TO  SUBDIVISION  SIX  OF
   12  THIS SECTION.
   13    (D)  "DESIGNATED  COMMUNITY" MEANS ANY TOWN OR CITY IN THE STATE WHICH
   14  SEEKS TO ESTABLISH OR HAS  ESTABLISHED  A  COMMUNITY  PRESERVATION  FUND
   15  PURSUANT TO THIS SECTION.
   16    (E)  "TAX" MEANS A REAL ESTATE TRANSFER TAX PAYABLE ON A REAL PROPERTY
   17  CONVEYANCE PURSUANT TO ARTICLE THIRTY-C  OF  THE  TAX  LAW,  UNLESS  THE
   18  CONTEXT CLEARLY INDICATES A DIFFERENT MEANING.
   19    2.  THE  GOVERNING  BODY  OF ANY DESIGNATED COMMUNITY IS AUTHORIZED TO
   20  ESTABLISH BY LOCAL LAW A COMMUNITY PRESERVATION FUND FOR THE  DESIGNATED
   21  COMMUNITY  PURSUANT TO THE PROVISIONS OF THIS SECTION. DEPOSITS INTO THE
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD12025-06-9
       S. 5821                             2
    1  FUND MAY INCLUDE REVENUES OF THE LOCAL GOVERNMENT FROM  LAWFULLY  AVAIL-
    2  ABLE  SOURCES  APPROVED  BY  THE  GOVERNING BODY AND SHALL INCLUDE, AT A
    3  MINIMUM, ALL REVENUES FROM THE TAX IMPOSED UPON  THE  TRANSFER  OF  REAL
    4  PROPERTY  INTERESTS  IN  SUCH  DESIGNATED  COMMUNITY PURSUANT TO ARTICLE
    5  THIRTY-C OF THE TAX LAW. THE FUND SHALL ALSO  BE  AUTHORIZED  TO  ACCEPT
    6  GIFTS OF MONEY OR INTERESTS IN LAND. INTEREST ACCRUED BY MONEYS DEPOSIT-
    7  ED INTO THE FUND SHALL BE CREDITED TO THE FUND. IN NO EVENT SHALL MONEYS
    8  DEPOSITED  IN  THE  FUND BE TRANSFERRED TO ANY OTHER ACCOUNT OR USED FOR
    9  ANY PURPOSE OTHER THAN AUTHORIZED BY THIS SECTION. NOTHING CONTAINED  IN
   10  THIS  SECTION SHALL BE CONSTRUED TO PREVENT THE FINANCING IN WHOLE OR IN
   11  PART, PURSUANT TO THE LOCAL FINANCE LAW, OF ANY  ACQUISITION  AUTHORIZED
   12  PURSUANT TO THIS SECTION.  MONEYS FROM THE FUND MAY BE UTILIZED TO REPAY
   13  ANY  INDEBTEDNESS  OR OBLIGATIONS INCURRED PURSUANT TO THE LOCAL FINANCE
   14  LAW CONSISTENT WITH EFFECTUATING THE PURPOSES OF THIS SECTION.
   15    3. MONEYS IN THE FUND SHALL BE USED EXCLUSIVELY TO:  (A)  IMPLEMENT  A
   16  COMMUNITY  PRESERVATION  PROJECT PLAN IN ACCORDANCE WITH SUBDIVISION SIX
   17  OF THIS SECTION; (B) ACQUIRE INTERESTS OR RIGHTS IN  REAL  PROPERTY  FOR
   18  THE  PRESERVATION OF COMMUNITY CHARACTER WITHIN THE DESIGNATED COMMUNITY
   19  IN ACCORDANCE WITH THE COMMUNITY PRESERVATION PROJECT PLAN AND IN  COOP-
   20  ERATION  WITH WILLING SELLERS; (C) ESTABLISH A BANK PURSUANT TO A TRANS-
   21  FER OF DEVELOPMENT RIGHTS PROGRAM CONSISTENT WITH  SECTION  TWO  HUNDRED
   22  SIXTY-ONE-A  OF  THE  TOWN  LAW, OR SECTION TWENTY-F OF THE GENERAL CITY
   23  LAW; (D) IMPLEMENT A MANAGEMENT AND STEWARDSHIP  PROGRAM  FOR  THE  REAL
   24  PROPERTY  INTERESTS AND RIGHTS ACQUIRED CONSISTENT WITH SUBDIVISION NINE
   25  OF THIS SECTION  AND  IN  ACCORDANCE  WITH  THE  COMMUNITY  PRESERVATION
   26  PROJECT  PLAN, PROVIDED THAT NOT MORE THAN TEN PERCENT OF THE FUND SHALL
   27  BE UTILIZED FOR A MANAGEMENT  AND  STEWARDSHIP  PROGRAM;  AND  (E)  MAKE
   28  PAYMENTS  TO  SCHOOL,  FIRE,  FIRE PROTECTION AND AMBULANCE DISTRICTS IN
   29  CONNECTION WITH LANDS WITHIN THE DESIGNATED COMMUNITY THAT ARE OWNED  BY
   30  ANY  MUNICIPAL  CORPORATION.    PAYMENTS  MAY ONLY BE MADE TO A DISTRICT
   31  WHERE MORE THAN TWENTY-FIVE  PERCENT  OF  THE  ASSESSED  VALUE  OF  THAT
   32  DISTRICT  IS  WHOLLY  EXEMPT FROM REAL PROPERTY TAXATION PURSUANT TO THE
   33  REAL PROPERTY TAX LAW BECAUSE IT IS OWNED BY  A  MUNICIPAL  CORPORATION.
   34  NOT  MORE  THAN  TEN PERCENT OF THE FUND MAY BE USED FOR THIS PURPOSE IN
   35  ANY FISCAL YEAR. PAYMENTS FROM THE  FUND  FOR  THIS  PURPOSE  SHALL  NOT
   36  EXCEED THE ACTUAL TAX LIABILITY THAT WOULD HAVE BEEN DUE IF THE LANDS OF
   37  A  MUNICIPAL  CORPORATION  HAD  BEEN  SUBJECT TO REAL PROPERTY TAXATION.
   38  WHERE MORE THAN ONE DISTRICT IS ELIGIBLE FOR A PAYMENT UNDER THIS SUBDI-
   39  VISION, AND THE PAYMENT AVAILABLE FROM THE FUND IS LESS THAN THE  ACTUAL
   40  TAX  LIABILITY  THAT  WOULD  HAVE  BEEN  DUE IF THE LANDS OF A MUNICIPAL
   41  CORPORATION HAD BEEN SUBJECT TO REAL PROPERTY TAXATION,  THE  DESIGNATED
   42  COMMUNITY  SHALL  APPORTION THE ANNUAL PAYMENT ON THE BASIS OF THE TOTAL
   43  TAX LEVIED BY EACH DISTRICT WITHIN THE DESIGNATED COMMUNITY FOR THE YEAR
   44  THE PAYMENT IS MADE. PAYMENT FROM THE  FUND  SHALL  BE  USED  SOLELY  TO
   45  REDUCE  THE  PROPERTY  TAX  LIABILITY  OF THE REMAINING TAXPAYERS OF THE
   46  DISTRICT WITHIN THE DESIGNATED COMMUNITY. IF THE IMPLEMENTATION  OF  THE
   47  COMMUNITY  PRESERVATION  PROJECT  PLAN  ADOPTED  BY  A GOVERNING BODY AS
   48  PROVIDED IN SUBDIVISION SIX OF THIS  SECTION  HAS  BEEN  COMPLETED,  AND
   49  MONEYS  ARE  NO LONGER NEEDED FOR THE PURPOSES OUTLINED IN THIS SUBDIVI-
   50  SION, THEN ANY REMAINING MONIES IN THE FUND MAY BE HELD IN THE FUND  FOR
   51  PURPOSES OF IMPLEMENTING A FUTURE COMMUNITY PRESERVATION PROJECT PLAN OR
   52  MAY BE APPLIED TO REDUCE ANY BONDED INDEBTEDNESS OR OBLIGATIONS INCURRED
   53  TO EFFECTUATE THE PURPOSES OF THIS SECTION.
   54    4.  PRESERVATION  OF  COMMUNITY CHARACTER SHALL INVOLVE ONE OR MORE OF
   55  THE FOLLOWING: (A) ESTABLISHMENT  OF  PARKS,  NATURE  PRESERVES,  NATURE
   56  TRAILS,  RECREATION  AREAS,  COMMUNITY GARDENS AS DEFINED IN SUBDIVISION
       S. 5821                             3
    1  ONE OF SECTION THIRTY-ONE-G OF  THE  AGRICULTURE  AND  MARKETS  LAW,  OR
    2  COMMUNITY FORESTS AS DEFINED IN SUBDIVISION TEN OF SECTION 9-0101 OF THE
    3  ENVIRONMENTAL  CONSERVATION  LAW;  (B)  PRESERVATION  OF OPEN SPACE; (C)
    4  PRESERVATION  OF  LANDS OF EXCEPTIONAL SCENIC VALUE; (D) PRESERVATION OF
    5  FRESH AND SALTWATER MARSHES OR OTHER WETLANDS; (E) PRESERVATION OF AQUI-
    6  FER RECHARGE AREAS; (F) PRESERVATION OF UNDEVELOPED BEACHLANDS OR SHORE-
    7  LINE; (G) ESTABLISHMENT OF WILDLIFE REFUGES FOR THE PURPOSE OF MAINTAIN-
    8  ING NATIVE ANIMAL SPECIES DIVERSITY, INCLUDING THE PROTECTION OF HABITAT
    9  ESSENTIAL TO THE RECOVERY AND MAINTENANCE OF RARE, THREATENED OR  ENDAN-
   10  GERED  SPECIES;  (H)  PRESERVATION  OF  UNIQUE  OR THREATENED ECOLOGICAL
   11  AREAS; (I)  PRESERVATION  OF  RIVERS  AND  RIVER  AREAS  IN  A  NATURAL,
   12  FREE-FLOWING CONDITION; (J) PRESERVATION OF FORESTED LAND; (K) PRESERVA-
   13  TION  OF  PUBLIC  ACCESS TO LANDS FOR PUBLIC USE INCLUDING STREAM RIGHTS
   14  AND WATERWAYS; (L) PRESERVATION OF HISTORIC PLACES AND PROPERTIES LISTED
   15  ON THE NEW YORK STATE REGISTER OF HISTORIC PLACES OR PROTECTED  UNDER  A
   16  MUNICIPAL HISTORIC PRESERVATION ORDINANCE OR LAW; (M) UNDERTAKING ANY OF
   17  THE  ACTIVITIES  LISTED IN THIS SUBDIVISION IN FURTHERANCE OF THE ESTAB-
   18  LISHMENT OF A GREENBELT; (N) PRESERVATION OF LAND WHICH IS PREDOMINANTLY
   19  VIABLE AGRICULTURAL LAND, AS DEFINED IN  SUBDIVISION  SEVEN  OF  SECTION
   20  THREE  HUNDRED  ONE  OF  THE  AGRICULTURE AND MARKETS LAW, OR UNIQUE AND
   21  IRREPLACEABLE AGRICULTURAL  LAND,  AS  DEFINED  IN  SUBDIVISION  SIX  OF
   22  SECTION  THREE  HUNDRED  ONE OF THE AGRICULTURE AND MARKETS LAW; AND (O)
   23  PRESERVATION OF LITTORAL AND RIPARIAN AREAS.
   24    5. THE GOVERNING BODY OF ANY DESIGNATED  COMMUNITY  WHICH  HAS  ESTAB-
   25  LISHED  A  COMMUNITY  PRESERVATION FUND SHALL ALSO ESTABLISH AN ADVISORY
   26  BOARD TO REVIEW AND  MAKE  RECOMMENDATIONS  TO  THE  GOVERNING  BODY  ON
   27  PROPOSED  ACQUISITIONS  OF  INTERESTS IN REAL PROPERTY USING MONEYS FROM
   28  THE FUND AND ASSIST IN THE DEVELOPMENT  OF  THE  COMMUNITY  PRESERVATION
   29  PLAN.  THE  GOVERNING  BODY  MAY:  (A) DESIGNATE AN APPROPRIATE EXISTING
   30  BOARD OR BODY, OTHER THAN THE GOVERNING BODY ITSELF, SUCH AS A CONSERVA-
   31  TION ADVISORY COUNCIL OR THE LOCAL PLANNING BOARD, TO SERVE AS THE ADVI-
   32  SORY BOARD; OR (B) CREATE A SEPARATE  BOARD  TO  SERVE  AS  AN  ADVISORY
   33  BOARD.   IF A SEPARATE ADVISORY BOARD IS CREATED, THE FOLLOWING REQUIRE-
   34  MENTS SHALL BE OBSERVED: (A) THE ADVISORY BOARD SHALL CONSIST OF  EITHER
   35  FIVE  OR  SEVEN  LEGAL  RESIDENTS  OF THE DESIGNATED COMMUNITY WHO SHALL
   36  SERVE WITHOUT COMPENSATION; (B) A MAJORITY OF THE MEMBERS OF  THE  ADVI-
   37  SORY  BOARD SHALL HAVE DEMONSTRATED EXPERIENCE WITH CONSERVATION OR LAND
   38  PRESERVATION ACTIVITIES; (C) NO MEMBER OF THE ADVISORY BOARD SHALL  ALSO
   39  BE A MEMBER OF THE GOVERNING BODY; (D) WHERE A PLAN IS LIKELY TO INCLUDE
   40  THE PRESERVATION OF AGRICULTURAL LAND, THE GOVERNING BODY SHALL GIVE DUE
   41  CONSIDERATION  TO APPOINTING AT LEAST ONE RESIDENT TO THE ADVISORY BOARD
   42  WHO IS EITHER (I) AN ACTIVE FARMER, OR (II) WHERE THE DESIGNATED  COMMU-
   43  NITY  IS  IN  A  COUNTY THAT HAS AN AGRICULTURAL AND FARMLAND PROTECTION
   44  BOARD ESTABLISHED PURSUANT TO SECTION THREE HUNDRED TWO OF THE  AGRICUL-
   45  TURE  AND  MARKETS LAW, A MEMBER OF SUCH BOARD; (E) THE TERMS OF MEMBERS
   46  OF THE ADVISORY BOARD FIRST APPOINTED SHALL BE SO FIXED THAT THE TERM OF
   47  ONE MEMBER SHALL EXPIRE AT THE END OF THE OFFICIAL YEAR  IN  WHICH  SUCH
   48  MEMBERS  WERE  INITIALLY  APPOINTED,  THE TERMS OF THE REMAINING MEMBERS
   49  FIRST APPOINTED SHALL BE SO FIXED THAT THE TERM OF AT LEAST  ONE  MEMBER
   50  SHALL  EXPIRE  AT  THE  END OF EACH OFFICIAL YEAR THEREAFTER, AND AT THE
   51  EXPIRATION OF THE TERM OF  EACH  MEMBER  FIRST  APPOINTED,  HIS  OR  HER
   52  SUCCESSOR  SHALL  BE  APPOINTED  FOR  A  TERM OF FOUR YEARS; AND (F) ANY
   53  MEMBER OF THE ADVISORY BOARD MAY BE  REMOVED  AT  THE  PLEASURE  OF  THE
   54  GOVERNING  BODY,  AND  ANY VACANCY SHALL BE FILLED IN THE SAME MANNER AS
   55  THE APPOINTMENT WAS MADE.
       S. 5821                             4
    1    6. THE GOVERNING BODY OF ANY DESIGNATED  COMMUNITY  WHICH  HAS  ESTAB-
    2  LISHED A COMMUNITY PRESERVATION FUND SHALL, BY LOCAL LAW, ADOPT A COMMU-
    3  NITY  PRESERVATION  PROJECT  PLAN.  THE  PLAN  MAY BE MADE A PART OF THE
    4  DESIGNATED COMMUNITY'S COMPREHENSIVE PLAN. THE  PLAN  SHALL  LIST  EVERY
    5  PROJECT  WHICH  THE  DESIGNATED COMMUNITY PLANS TO UNDERTAKE WITH MONEYS
    6  FROM THE FUND. IT SHALL INCLUDE EVERY PARCEL WHICH IS  NECESSARY  TO  BE
    7  ACQUIRED IN THE DESIGNATED COMMUNITY TO PROTECT COMMUNITY CHARACTER. THE
    8  PLAN  SHALL  PROVIDE FOR A DETAILED EVALUATION OF ALL AVAILABLE LAND USE
    9  ALTERNATIVES TO PROTECT COMMUNITY CHARACTER, INCLUDING BUT  NOT  LIMITED
   10  TO: (A) FEE SIMPLE ACQUISITION; (B) ZONING REGULATIONS, INCLUDING DENSI-
   11  TY  REDUCTIONS,  CLUSTER  DEVELOPMENT, AND SITE PLAN AND DESIGN REQUIRE-
   12  MENTS; (C) TRANSFER OF DEVELOPMENT RIGHTS; (D) PURCHASE  OF  DEVELOPMENT
   13  RIGHTS;  AND (E) SCENIC AND CONSERVATION EASEMENTS. THE EVALUATION SHALL
   14  BE AS SPECIFIC AS PRACTICABLE AS TO EACH PARCEL SELECTED  FOR  INCLUSION
   15  IN  THE  PLAN.  THE  PLAN  SHALL  ESTABLISH PRIORITIES FOR PRESERVATION.
   16  MONEYS FROM THE FUND MAY ONLY BE EXPENDED FOR  PROJECTS  LISTED  IN  THE
   17  PLAN.  THE  PLAN SHALL BE UPDATED NOT LESS THAN ONCE EVERY FIVE YEARS. A
   18  COPY OF THE ADOPTED PLAN SHALL BE FILED WITH THE CLERK OF THE DESIGNATED
   19  COMMUNITY AT LEAST SIXTY DAYS BEFORE THE  SUBMISSION  OF  THE  MANDATORY
   20  REFERENDUM  REQUIRED  BY  SECTION THIRTEEN HUNDRED EIGHTY-SIX OF THE TAX
   21  LAW AND SHALL BE MADE AVAILABLE FOR  PUBLIC  REVIEW  AT  THE  DESIGNATED
   22  COMMUNITY  CLERK'S OFFICE, AT ANY PUBLIC LIBRARIES WITHIN THE DESIGNATED
   23  COMMUNITY, AND, WHERE PRACTICABLE, POSTED ON THE DESIGNATED  COMMUNITY'S
   24  WEBSITE.
   25    7.  THE  GOVERNING  BODY  OF ANY DESIGNATED COMMUNITY WHICH HAS ESTAB-
   26  LISHED A FUND PURSUANT TO THIS  SECTION  MAY  ESTABLISH  A  TRANSFER  OF
   27  DEVELOPMENT  RIGHTS PROGRAM TO PROTECT COMMUNITY CHARACTER IN COMPLIANCE
   28  WITH SECTION TWO HUNDRED SIXTY-ONE-A OF THE TOWN LAW OR SECTION TWENTY-F
   29  OF THE GENERAL CITY LAW AS APPLICABLE.  IF AT ANY TIME DURING  THE  LIFE
   30  OF THE FUND A TRANSFER OF DEVELOPMENT RIGHTS PROGRAM IS ESTABLISHED, THE
   31  DESIGNATED  COMMUNITY  MAY  UTILIZE MONEYS FROM THE FUND FOR PURPOSES OF
   32  THE TRANSFER OF DEVELOPMENT RIGHTS PROGRAM. IF AT ANY  TIME  DURING  THE
   33  LIFE  OF  THE FUND, A TRANSFER OF DEVELOPMENT RIGHTS PROGRAM IS REPEALED
   34  BY THE DESIGNATED COMMUNITY, ALL MONEYS FROM THE CENTRAL BANK  SHALL  BE
   35  RETURNED TO THE FUND.
   36    8.  NO INTERESTS OR RIGHTS IN REAL PROPERTY SHALL BE ACQUIRED PURSUANT
   37  TO THIS SECTION UNTIL A PUBLIC HEARING IS HELD AS  REQUIRED  BY  SECTION
   38  TWO HUNDRED FORTY-SEVEN OF THIS CHAPTER; PROVIDED, HOWEVER, THAT NOTHING
   39  IN  THIS  SECTION  SHALL PREVENT THE GOVERNING BODY FROM ENTERING INTO A
   40  CONDITIONAL PURCHASE AGREEMENT BEFORE A  PUBLIC  HEARING  IS  HELD.  ANY
   41  RESOLUTION  OF A GOVERNING BODY APPROVING AN ACQUISITION OF INTERESTS OR
   42  RIGHTS IN REAL PROPERTY PURSUANT TO THIS SECTION SHALL FIND THAT  ACQUI-
   43  SITION  WAS THE BEST ALTERNATIVE FOR THE PROTECTION OF COMMUNITY CHARAC-
   44  TER OF ALL THE  REASONABLE  ALTERNATIVES  AVAILABLE  TO  THE  DESIGNATED
   45  COMMUNITY.
   46    9.  RIGHTS  OR  INTERESTS  IN  REAL PROPERTY ACQUIRED PURSUANT TO THIS
   47  SECTION SHALL BE ADMINISTERED AND MANAGED IN A MANNER WHICH: (A)  ALLOWS
   48  PUBLIC  USE  AND  ENJOYMENT  IN  A  MANNER  COMPATIBLE WITH THE NATURAL,
   49  SCENIC, HISTORIC AND OPEN SPACE CHARACTER OF THE  LANDS;  (B)  PRESERVES
   50  THE  NATIVE BIOLOGICAL DIVERSITY OF THE LANDS TO THE EXTENT PRACTICABLE;
   51  (C) WITH REGARD TO OPEN SPACES, LIMITS IMPROVEMENTS TO ENHANCING  ACCESS
   52  FOR PASSIVE USE OF THE LANDS, SUCH AS NATURE TRAILS, BOARDWALKS, BICYCLE
   53  PATHS,  HIKING  TRAILS,  SNOWSHOE  TRAILS, CROSS COUNTRY SKI TRAILS, AND
   54  PERIPHERAL PARKING AREAS PROVIDED THAT THESE IMPROVEMENTS DO NOT DEGRADE
   55  THE ECOLOGICAL VALUE OF THE LAND OR THREATEN ESSENTIAL WILDLIFE HABITAT;
   56  AND (D) PRESERVES CULTURAL PROPERTY CONSISTENT WITH  ACCEPTED  STANDARDS
       S. 5821                             5
    1  FOR  HISTORIC  PRESERVATION. IN FURTHERING THE PURPOSES OF THIS SECTION,
    2  THE DESIGNATED COMMUNITY MAY ENTER INTO AGREEMENTS  WITH  NOT-FOR-PROFIT
    3  CORPORATIONS AND ENGAGE IN LAND TRUST ACTIVITIES TO MANAGE LANDS INCLUD-
    4  ING  LESS THAN FEE INTERESTS ACQUIRED PURSUANT TO THE PROVISIONS OF THIS
    5  SECTION, PROVIDED THAT ANY AGREEMENT SHALL CONTAIN A PROVISION THAT  THE
    6  CORPORATION  KEEP  THE  LANDS ACCESSIBLE TO THE PUBLIC UNLESS THE CORPO-
    7  RATION DEMONSTRATES TO THE  SATISFACTION  OF  THE  GOVERNING  BODY  THAT
    8  PUBLIC  ACCESSIBILITY  WOULD  BE  DETRIMENTAL TO THE LANDS OR ANY OF THE
    9  NATURAL RESOURCES ASSOCIATED WITH THE LANDS.  NOTWITHSTANDING ANY  OTHER
   10  PROVISION OF THIS SUBDIVISION, THERE SHALL BE NO RIGHT TO PUBLIC USE AND
   11  ENJOYMENT  OF  LAND USED IN CONJUNCTION WITH A FARM OPERATION AS DEFINED
   12  BY SUBDIVISION ELEVEN OF SECTION THREE HUNDRED ONE  OF  THE  AGRICULTURE
   13  AND  MARKETS  LAW  UNLESS  THE  OWNER  OR OPERATOR OF THE FARM OPERATION
   14  PERMITS PUBLIC USE, IN WRITING.
   15    10. RIGHTS OR INTERESTS IN REAL PROPERTY ACQUIRED WITH MONEYS FROM THE
   16  FUND SHALL NOT BE USED FOR PURPOSES OTHER THAN THOSE PERMITTED  BY  THIS
   17  SECTION, OR BE SOLD, LEASED, EXCHANGED, DONATED OR OTHERWISE DISPOSED OF
   18  TO  ANYONE  OTHER  THAN  THE  STATE,  A MUNICIPALITY OR A NOT-FOR-PROFIT
   19  CORPORATION WHERE THE PROPERTY WILL CONTINUE TO BE USED FOR A QUALIFYING
   20  PURPOSE CONSISTENT WITH PRESERVING COMMUNITY CHARACTER OF THE DESIGNATED
   21  COMMUNITY AND  PURSUANT  TO  THE  COMMUNITY  PRESERVATION  PROJECT  PLAN
   22  ADOPTED BY THE DESIGNATED COMMUNITY, WITHOUT THE EXPRESS AUTHORITY OF AN
   23  ACT  OF THE STATE LEGISLATURE.  ANY CONSERVATION EASEMENTS CREATED UNDER
   24  TITLE THREE OF ARTICLE FORTY-NINE OF THE ENVIRONMENTAL CONSERVATION  LAW
   25  WHICH  ARE  ACQUIRED  WITH MONEYS FROM THE FUND, MAY ONLY BE MODIFIED OR
   26  EXTINGUISHED AS PROVIDED BY SECTION 49-0307 OF THE ENVIRONMENTAL CONSER-
   27  VATION LAW.  NOTHING IN THIS SECTION SHALL PRECLUDE A DESIGNATED  COMMU-
   28  NITY,  BY  LOCAL  LAW,  FROM ESTABLISHING ADDITIONAL RESTRICTIONS TO THE
   29  ALIENATION OF LANDS ACQUIRED PURSUANT TO THIS SECTION. THIS  SUBDIVISION
   30  SHALL NOT APPLY TO THE SALE OF DEVELOPMENT RIGHTS BY A DESIGNATED COMMU-
   31  NITY  ACQUIRED  PURSUANT  TO  THIS  SECTION, WHERE THE SALE IS MADE BY A
   32  DEVELOPMENT RIGHTS BANK CREATED BY A DESIGNATED COMMUNITY, PURSUANT TO A
   33  TRANSFER OF DEVELOPMENT  RIGHTS  PROGRAM  ESTABLISHED  BY  A  DESIGNATED
   34  COMMUNITY PURSUANT TO SECTION TWO HUNDRED SIXTY-ONE-A OF THE TOWN LAW OR
   35  SECTION  TWENTY-F  OF  THE GENERAL CITY LAW, PROVIDED, HOWEVER THAT: (A)
   36  THE LANDS FROM WHICH THE DEVELOPMENT RIGHTS WERE ACQUIRED  SHALL  REMAIN
   37  PRESERVED  IN  PERPETUITY  BY A PERMANENT CONSERVATION EASEMENT OR OTHER
   38  INSTRUMENT THAT SIMILARLY PRESERVES THE COMMUNITY  CHARACTER  CONSISTENT
   39  WITH  SUBDIVISION  FOUR  OF  THIS SECTION; AND (B) THE PROCEEDS FROM THE
   40  SALE SHALL BE DEPOSITED IN THE FUND.
   41    11. NOTHING IN THIS SECTION SHALL BE CONSTRUED TO  SUPERSEDE,  AFFECT,
   42  IMPAIR   OR   INVALIDATE   THE   PROVISIONS   OF  SECTION  SIXTY-FOUR-E,
   43  SIXTY-FOUR-F, SIXTY-FOUR-G, SIXTY-FOUR-H, SIXTY-FOUR-I (RELATING TO  THE
   44  TOWN  OF  CHATHAM  PRESERVATION  FUNDS) OR SIXTY-FOUR-I (RELATING TO THE
   45  TOWN OF FISHKILL PRESERVATION FUNDS) OF THE TOWN LAW, OR  SECTION  SIX-S
   46  OF  THIS  ARTICLE; PROVIDED HOWEVER THAT A DESIGNATED COMMUNITY MAY ONLY
   47  ESTABLISH ONE REAL ESTATE TRANSFER TAX  FOR  THE  PURPOSE  OF  COMMUNITY
   48  PRESERVATION;  NOR SHALL ANY TOWN OR CITY IMPOSE A TAX PURSUANT TO ARTI-
   49  CLE THIRTY-C OF THE TAX LAW IF A TOWN OR CITY HAS IMPOSED A REAL  ESTATE
   50  TRANSFER  TAX  FOR  THE PURPOSE OF ESTABLISHING A COMMUNITY PRESERVATION
   51  FUND PURSUANT TO ANY OF THESE LAWS AND IT WOULD RESULT IN THE IMPOSITION
   52  OF MORE THAN ONE REAL ESTATE TRANSFER TAX FOR THIS PURPOSE ON  THE  SAME
   53  REAL PROPERTY CONVEYANCE.
   54    S  2.  Section 9-0101 of the environmental conservation law is amended
   55  by adding a new subdivision 10 to read as follows:
       S. 5821                             6
    1    10. "COMMUNITY FOREST" MEANS FOREST LAND, OR  AN  INTEREST  IN  FOREST
    2  LAND,  OWNED  AND MANAGED BY A MUNICIPALITY FOR THE BENEFIT OF ITS RESI-
    3  DENTS.
    4    S  3.  The  tax law is amended by adding a new article 30-C to read as
    5  follows:
    6                                ARTICLE 30-C
    7              TAX ON REAL ESTATE TRANSFERS IN TOWNS AND CITIES
    8  SECTION 1385. DEFINITIONS.
    9          1386. IMPOSITION OF TAX.
   10          1387. LIABILITY FOR TAX.
   11          1388. PAYMENT OF TAX.
   12          1389. EXEMPTIONS.
   13          1390. CREDIT.
   14          1391. COOPERATIVE HOUSING CORPORATION TRANSFERS.
   15          1392. DESIGNATION OF AGENTS.
   16          1393. LIABILITY OF RECORDING OFFICER.
   17          1394. REFUNDS.
   18          1395. DEPOSIT AND DISPOSITION OF REVENUE.
   19          1396. JUDICIAL REVIEW.
   20          1397. APPORTIONMENT.
   21          1398. MISCELLANEOUS.
   22          1399. RETURNS TO BE CONFIDENTIAL.
   23    S 1385. DEFINITIONS. WHEN  USED  IN  THIS  ARTICLE,  UNLESS  OTHERWISE
   24  EXPRESSLY STATED, THE FOLLOWING WORDS AND TERMS SHALL HAVE THE FOLLOWING
   25  MEANINGS:
   26    (A)  "PERSON"  MEANS  AN  INDIVIDUAL,  PARTNERSHIP,  LIMITED LIABILITY
   27  COMPANY, SOCIETY, ASSOCIATION, JOINT STOCK COMPANY, CORPORATION, ESTATE,
   28  RECEIVER, TRUSTEE, ASSIGNEE, REFEREE OR ANY OTHER  PERSON  ACTING  IN  A
   29  FIDUCIARY  OR  REPRESENTATIVE  CAPACITY, WHETHER APPOINTED BY A COURT OR
   30  OTHERWISE, ANY COMBINATION OF INDIVIDUALS, AND ANY OTHER FORM  OF  UNIN-
   31  CORPORATED ENTERPRISE OWNED OR CONDUCTED BY TWO OR MORE PERSONS.
   32    (B)  "CONTROLLING  INTEREST"  MEANS  (1) IN THE CASE OF A CORPORATION,
   33  EITHER FIFTY PERCENT OR MORE OF THE TOTAL COMBINED VOTING POWER  OF  ALL
   34  CLASSES  OF  STOCK  OF  THE CORPORATION, OR FIFTY PERCENT OR MORE OF THE
   35  CAPITAL, PROFITS OR BENEFICIAL INTEREST  IN  THE  VOTING  STOCK  OF  THE
   36  CORPORATION, AND (2) IN THE CASE OF A PARTNERSHIP, ASSOCIATION, TRUST OR
   37  OTHER  ENTITY,  FIFTY PERCENT OR MORE OF THE CAPITAL, PROFITS OR BENEFI-
   38  CIAL INTEREST IN THE PARTNERSHIP, ASSOCIATION, TRUST OR OTHER ENTITY.
   39    (C) "REAL PROPERTY" MEANS EVERY ESTATE OR RIGHT, LEGAL  OR  EQUITABLE,
   40  PRESENT  OR FUTURE, VESTED OR CONTINGENT, IN LANDS, TENEMENTS OR HEREDI-
   41  TAMENTS, INCLUDING BUILDINGS, STRUCTURES AND OTHER IMPROVEMENTS THEREON,
   42  WHICH ARE LOCATED IN WHOLE OR IN PART WITHIN ANY  DESIGNATED  COMMUNITY.
   43  IT SHALL NOT INCLUDE RIGHTS TO SEPULTURE.
   44    (D)  "CONSIDERATION"  MEANS  THE PRICE ACTUALLY PAID OR REQUIRED TO BE
   45  PAID FOR THE REAL PROPERTY OR INTEREST THEREIN, INCLUDING PAYMENT FOR AN
   46  OPTION OR CONTRACT TO PURCHASE REAL PROPERTY, WHETHER OR  NOT  EXPRESSED
   47  IN  THE DEED AND WHETHER PAID OR REQUIRED TO BE PAID BY MONEY, PROPERTY,
   48  OR ANY OTHER THING OF  VALUE.  IT  SHALL  INCLUDE  THE  CANCELLATION  OR
   49  DISCHARGE  OF  AN  INDEBTEDNESS OR OBLIGATION. IT SHALL ALSO INCLUDE THE
   50  AMOUNT OF ANY MORTGAGE, PURCHASE MONEY MORTGAGE, LIEN  OR  OTHER  ENCUM-
   51  BRANCE,  WHETHER  OR NOT THE UNDERLYING INDEBTEDNESS IS ASSUMED OR TAKEN
   52  SUBJECT TO.
   53    (1) IN THE CASE OF A CREATION OF A LEASEHOLD INTEREST OR THE  GRANTING
   54  OF  AN  OPTION  WITH  USE  AND OCCUPANCY OF REAL PROPERTY, CONSIDERATION
   55  SHALL INCLUDE, BUT NOT BE LIMITED TO, THE VALUE OF THE RENTAL AND  OTHER
   56  PAYMENTS  ATTRIBUTABLE  TO THE USE AND OCCUPANCY OF THE REAL PROPERTY OR
       S. 5821                             7
    1  INTEREST THEREIN, THE VALUE OF ANY AMOUNT PAID FOR AN OPTION TO PURCHASE
    2  OR RENEW AND THE VALUE OF RENTAL OR OTHER PAYMENTS ATTRIBUTABLE  TO  THE
    3  EXERCISE OF ANY OPTION TO RENEW.
    4    (2)  IN  THE  CASE OF A CREATION OF A SUBLEASEHOLD INTEREST, CONSIDER-
    5  ATION SHALL INCLUDE, BUT NOT BE LIMITED TO, THE VALUE  OF  THE  SUBLEASE
    6  RENTAL  PAYMENTS ATTRIBUTABLE TO THE USE AND OCCUPANCY OF THE REAL PROP-
    7  ERTY, THE VALUE OF ANY AMOUNT PAID FOR AN OPTION TO RENEW AND THE  VALUE
    8  OF  RENTAL  OR OTHER PAYMENTS ATTRIBUTABLE TO THE EXERCISE OF ANY OPTION
    9  TO RENEW LESS THE VALUE OF THE REMAINING  PRIME  LEASE  RENTAL  PAYMENTS
   10  REQUIRED TO BE MADE.
   11    (3) IN THE CASE OF A CONTROLLING INTEREST IN ANY ENTITY THAT OWNS REAL
   12  PROPERTY,  CONSIDERATION  SHALL  MEAN  THE FAIR MARKET VALUE OF THE REAL
   13  PROPERTY OR INTEREST THEREIN, APPORTIONED BASED ON THE PERCENTAGE OF THE
   14  OWNERSHIP INTEREST TRANSFERRED OR ACQUIRED IN THE ENTITY.
   15    (4) IN THE CASE OF AN ASSIGNMENT OR SURRENDER OF A LEASEHOLD  INTEREST
   16  OR THE ASSIGNMENT OR SURRENDER OF AN OPTION OR CONTRACT TO PURCHASE REAL
   17  PROPERTY,  CONSIDERATION  SHALL  NOT  INCLUDE THE VALUE OF THE REMAINING
   18  RENTAL PAYMENTS REQUIRED TO BE MADE PURSUANT TO THE TERMS OF SUCH  LEASE
   19  OR  THE AMOUNT TO BE PAID FOR THE REAL PROPERTY PURSUANT TO THE TERMS OF
   20  THE OPTION OR CONTRACT BEING ASSIGNED OR SURRENDERED.
   21    (5) IN THE CASE OF (A) THE ORIGINAL CONVEYANCE OF SHARES OF STOCK IN A
   22  COOPERATIVE HOUSING CORPORATION IN CONNECTION WITH THE GRANT OR TRANSFER
   23  OF A PROPRIETARY LEASEHOLD BY THE COOPERATIVE CORPORATION OR COOPERATIVE
   24  PLAN SPONSOR, AND (B) THE SUBSEQUENT CONVEYANCE BY THE OWNER THEREOF  OF
   25  SUCH  STOCK  IN A COOPERATIVE HOUSING CORPORATION IN CONNECTION WITH THE
   26  GRANT OR TRANSFER OF A PROPRIETARY  LEASEHOLD  FOR  A  COOPERATIVE  UNIT
   27  OTHER THAN AN INDIVIDUAL RESIDENTIAL UNIT, CONSIDERATION SHALL INCLUDE A
   28  PROPORTIONATE  SHARE OF THE UNPAID PRINCIPAL OF ANY MORTGAGE ON THE REAL
   29  PROPERTY OF THE COOPERATIVE HOUSING CORPORATION COMPRISING  THE  COOPER-
   30  ATIVE DWELLING OR DWELLINGS. SUCH SHARE SHALL BE DETERMINED BY MULTIPLY-
   31  ING THE TOTAL UNPAID PRINCIPAL OF THE MORTGAGE BY A FRACTION, THE NUMER-
   32  ATOR  OF  WHICH SHALL BE THE NUMBER OF SHARES OF STOCK BEING CONVEYED IN
   33  THE COOPERATIVE HOUSING CORPORATION IN  CONNECTION  WITH  THE  GRANT  OR
   34  TRANSFER  OF  A PROPRIETARY LEASEHOLD AND THE DENOMINATOR OF WHICH SHALL
   35  BE THE TOTAL NUMBER OF SHARES OF STOCK IN THE COOPERATIVE HOUSING CORPO-
   36  RATION.
   37    (E) "CONVEYANCE" MEANS THE TRANSFER OR TRANSFERS OF  ANY  INTEREST  IN
   38  REAL  PROPERTY  BY  ANY  METHOD,  INCLUDING  BUT  NOT  LIMITED TO, SALE,
   39  EXCHANGE, ASSIGNMENT, SURRENDER, MORTGAGE FORECLOSURE, TRANSFER IN  LIEU
   40  OF  FORECLOSURE,  OPTION,  TRUST  INDENTURE,  TAKING  BY EMINENT DOMAIN,
   41  CONVEYANCE UPON LIQUIDATION OR BY A RECEIVER, OR TRANSFER OR ACQUISITION
   42  OF A CONTROLLING INTEREST IN ANY ENTITY WITH AN INTEREST IN REAL PROPER-
   43  TY. TRANSFER OF AN INTEREST IN REAL PROPERTY SHALL INCLUDE THE  CREATION
   44  OF  A  LEASEHOLD  OR  SUBLEASE ONLY WHERE (1) THE SUM OF THE TERM OF THE
   45  LEASE OR SUBLEASE AND ANY OPTIONS FOR RENEWAL EXCEEDS FORTY-NINE  YEARS,
   46  (2)  SUBSTANTIAL  CAPITAL  IMPROVEMENTS ARE OR MAY BE MADE BY OR FOR THE
   47  BENEFIT OF THE LESSEE OR SUBLESSEE, AND (3) THE LEASE OR SUBLEASE IS FOR
   48  SUBSTANTIALLY ALL  OF  THE  PREMISES  CONSTITUTING  THE  REAL  PROPERTY.
   49  NOTWITHSTANDING  THE FOREGOING PROVISIONS OF THIS SUBSECTION, CONVEYANCE
   50  OF REAL PROPERTY SHALL NOT INCLUDE A CONVEYANCE MADE PURSUANT TO DEVISE,
   51  BEQUEST OR INHERITANCE; THE CREATION, MODIFICATION,  EXTENSION,  SPREAD-
   52  ING,  SEVERANCE,  CONSOLIDATION, ASSIGNMENT, TRANSFER, RELEASE OR SATIS-
   53  FACTION OF A MORTGAGE; A MORTGAGE SUBORDINATION  AGREEMENT,  A  MORTGAGE
   54  SEVERANCE  AGREEMENT,  AN  INSTRUMENT  GIVEN  TO  PERFECT  OR  CORRECT A
   55  RECORDED MORTGAGE; OR A RELEASE OF LIEN OF TAX PURSUANT TO THIS  CHAPTER
   56  OR THE INTERNAL REVENUE CODE.
       S. 5821                             8
    1    (F) "INTEREST IN THE REAL PROPERTY" INCLUDES TITLE IN FEE, A LEASEHOLD
    2  INTEREST, A BENEFICIAL INTEREST, AN ENCUMBRANCE, DEVELOPMENT RIGHTS, AIR
    3  SPACE  AND  AIR  RIGHTS,  OR ANY OTHER INTEREST WITH THE RIGHT TO USE OR
    4  OCCUPANCY OF REAL PROPERTY OR THE RIGHT TO  RECEIVE  RENTS,  PROFITS  OR
    5  OTHER INCOME DERIVED FROM REAL PROPERTY. IT SHALL ALSO INCLUDE AN OPTION
    6  OR  CONTRACT  TO PURCHASE REAL PROPERTY. IT SHALL NOT INCLUDE A RIGHT OF
    7  FIRST REFUSAL TO PURCHASE REAL PROPERTY.
    8    (G) "SELLER" MEANS THE PERSON MAKING THE CONVEYANCE OF  REAL  PROPERTY
    9  OR  INTEREST THEREIN.  WHERE THE CONVEYANCE CONSISTS OF A TRANSFER OR AN
   10  ACQUISITION OF A CONTROLLING INTEREST IN AN ENTITY WITH AN  INTEREST  IN
   11  REAL  PROPERTY, "SELLER" MEANS THE ENTITY WITH AN INTEREST IN REAL PROP-
   12  ERTY OR A SHAREHOLDER  OR  PARTNER  TRANSFERRING  STOCK  OR  PARTNERSHIP
   13  INTEREST, RESPECTIVELY.
   14    (H)  "BUYER"  MEANS  THE  PERSON WHO OBTAINS REAL PROPERTY OR INTEREST
   15  THEREIN AS A RESULT OF A CONVEYANCE.
   16    (I) "COMMUNITY PRESERVATION FUND" MEANS A COMMUNITY PRESERVATION  FUND
   17  ESTABLISHED PURSUANT TO SECTION SIX-T OF THE GENERAL MUNICIPAL LAW.
   18    (J) "RECORDING OFFICER" MEANS THE COUNTY CLERK WHERE THE REAL PROPERTY
   19  IS  LOCATED  EXCEPT  IN  A  COUNTY HAVING A REGISTER, WHERE IT MEANS THE
   20  REGISTER OF THE COUNTY.
   21    (K) "DESIGNATED COMMUNITY" MEANS ANY TOWN OR CITY IN THE  STATE  WHICH
   22  HAS  ESTABLISHED A VALID COMMUNITY PRESERVATION FUND PURSUANT TO SECTION
   23  SIX-T OF THE GENERAL MUNICIPAL LAW.
   24    (L) "TREASURER" MEANS THE COUNTY TREASURER.
   25    (M) "GOVERNING BODY" MEANS THE TOWN BOARD OF A TOWN, OR THE  BOARD  OF
   26  ALDERMEN, COMMON COUNCIL, COUNCIL OR COMMISSION OF A CITY.
   27    (N)  "RESIDENTIAL  REAL  PROPERTY"  MEANS  PROPERTY WHICH SATISFIES AT
   28  LEAST ONE OF THE FOLLOWING CONDITIONS:
   29    (1) THE PROPERTY CLASSIFICATION CODE ASSIGNED TO THE PROPERTY  ON  THE
   30  LATEST  FINAL  ASSESSMENT ROLL, AS REPORTED ON THE TRANSFER REPORT FORM,
   31  INDICATES THAT THE PROPERTY IS A ONE, TWO OR  THREE  FAMILY  HOME  OR  A
   32  RURAL RESIDENCE; OR
   33    (2)  THE  TRANSFER  REPORT  FORM INDICATES THAT THE PROPERTY IS A ONE,
   34  TWO,  OR  THREE  FAMILY  RESIDENTIAL  PROPERTY  THAT  HAS   BEEN   NEWLY
   35  CONSTRUCTED ON VACANT LAND; OR
   36    (3) THE TRANSFER REPORT FORM INDICATES THAT THE PROPERTY IS A RESIDEN-
   37  TIAL CONDOMINIUM.
   38    (O) "TAX" MEANS THE REAL ESTATE TRANSFER TAX PAYABLE ON A REAL PROPER-
   39  TY  CONVEYANCE  PURSUANT  TO SECTION THIRTEEN HUNDRED EIGHTY-SIX OF THIS
   40  ARTICLE, UNLESS THE CONTEXT CLEARLY INDICATES A DIFFERENT MEANING.
   41    S 1386. IMPOSITION OF TAX. NOTWITHSTANDING ANY OTHER PROVISIONS OF LAW
   42  TO THE CONTRARY, ANY DESIGNATED COMMUNITY, ACTING THROUGH ITS  GOVERNING
   43  BODY,  IS  HEREBY AUTHORIZED AND EMPOWERED TO ADOPT A LOCAL LAW IMPOSING
   44  IN THE DESIGNATED COMMUNITY A TAX ON EACH CONVEYANCE OF REAL PROPERTY OR
   45  INTEREST WHERE THE CONSIDERATION EXCEEDS FIVE HUNDRED DOLLARS, AT A RATE
   46  OF UP TO TWO PERCENT OF THE CONSIDERATION FOR THE CONVEYANCE; THE  LOCAL
   47  LAW  SHALL FIX THE RATE OF THE TAX. ANY LOCAL LAW IMPOSING, REPEALING OR
   48  REIMPOSING THE TAX SHALL BE SUBJECT TO A MANDATORY  REFERENDUM  PURSUANT
   49  TO  SECTION  TWENTY-THREE  OF THE MUNICIPAL HOME RULE LAW. THE LOCAL LAW
   50  SHALL ONLY BE SUBMITTED FOR THE APPROVAL OF THE ELECTORS AT  A  NOVEMBER
   51  GENERAL  ELECTION. IN ADDITION TO THE FILINGS REQUIRED PURSUANT TO ARTI-
   52  CLE THREE OF THE MUNICIPAL HOME RULE LAW, THE LOCAL LAW SHALL  BE  FILED
   53  WITH THE STATE BOARD OF REAL PROPERTY SERVICES WITHIN TWENTY DAYS OF ITS
   54  APPROVAL  BY  THE  ELECTORS. REVENUES FROM THE TAX SHALL BE DEPOSITED IN
   55  THE COMMUNITY PRESERVATION FUND AND MAY BE USED SOLELY FOR THE  PURPOSES
   56  OF  THE  COMMUNITY PRESERVATION FUND.   THE LOCAL LAW SHALL APPLY TO ANY
       S. 5821                             9
    1  CONVEYANCE OCCURRING ON OR AFTER THE FIRST DAY OF A MONTH TO  BE  DESIG-
    2  NATED BY THE GOVERNING BODY, WHICH IS NOT LESS THAN SIXTY DAYS AFTER THE
    3  ENACTMENT  OF  THE LOCAL LAW, BUT SHALL NOT APPLY TO CONVEYANCES MADE ON
    4  OR  AFTER  THAT  DATE PURSUANT TO BINDING WRITTEN CONTRACTS ENTERED INTO
    5  PRIOR TO THAT DATE, PROVIDED THAT THE DATE OF EXECUTION OF THE  CONTRACT
    6  IS  CONFIRMED  BY  INDEPENDENT  EVIDENCE  SUCH  AS  THE RECORDING OF THE
    7  CONTRACT, PAYMENT OF A DEPOSIT  OR  OTHER  FACTS  AND  CIRCUMSTANCES  AS
    8  DETERMINED BY THE TREASURER.
    9    S  1387.  LIABILITY  FOR  TAX. (A) THE TAX AUTHORIZED TO BE IMPOSED BY
   10  THIS ARTICLE SHALL BE PAID BY THE BUYER.
   11    (B) FOR THE PURPOSE OF THE PROPER ADMINISTRATION OF THIS  ARTICLE  AND
   12  TO PREVENT EVASION OF THE TAX, IT SHALL BE PRESUMED THAT ALL CONVEYANCES
   13  ARE TAXABLE. WHERE THE CONSIDERATION INCLUDES PROPERTY OTHER THAN MONEY,
   14  IT  SHALL BE PRESUMED THAT THE CONSIDERATION IS THE FAIR MARKET VALUE OF
   15  THE REAL PROPERTY OR INTEREST THEREIN. THESE PRESUMPTIONS SHALL  PREVAIL
   16  UNTIL  THE  CONTRARY  IS  PROVEN, AND THE BURDEN OF PROVING THE CONTRARY
   17  SHALL BE ON THE PERSON LIABLE FOR PAYMENT OF THE TAX.
   18    S 1388. PAYMENT OF TAX. (A) THE TAX IMPOSED PURSUANT TO  THIS  ARTICLE
   19  SHALL  BE  PAID  TO THE TREASURER OR THE RECORDING OFFICER ACTING AS THE
   20  AGENT OF THE TREASURER UPON DESIGNATION AS SUCH AGENT BY THE  TREASURER.
   21  THE  TAX  SHALL BE PAID AT THE SAME TIME AS THE REAL ESTATE TRANSFER TAX
   22  IMPOSED BY ARTICLE THIRTY-ONE OF THIS CHAPTER IS REQUIRED  TO  BE  PAID.
   23  SUCH  TREASURER  OR  RECORDING  OFFICER  SHALL ENDORSE UPON EACH DEED OR
   24  INSTRUMENT EFFECTING A CONVEYANCE A RECEIPT FOR THE AMOUNT  OF  THE  TAX
   25  PAID.
   26    (B)  A  RETURN  SHALL BE FILED WITH THE TREASURER OR RECORDING OFFICER
   27  FOR PURPOSES OF THE TAX AT THE SAME TIME AS A RETURN IS REQUIRED  TO  BE
   28  FILED  FOR  PURPOSES  OF THE REAL ESTATE TRANSFER TAX IMPOSED BY ARTICLE
   29  THIRTY-ONE OF THIS CHAPTER. THE TREASURER SHALL PRESCRIBE  THE  FORM  OF
   30  RETURN,  THE  INFORMATION  WHICH IT SHALL CONTAIN, AND THE DOCUMENTATION
   31  THAT SHALL ACCOMPANY THE RETURN. THE FORM SHALL BE IDENTICAL TO THE REAL
   32  ESTATE TRANSFER TAX RETURN REQUIRED TO  BE  FILED  PURSUANT  TO  SECTION
   33  FOURTEEN  HUNDRED  NINE OF THIS CHAPTER, EXCEPT THAT THE TREASURER SHALL
   34  ADAPT THE FORM TO REFLECT THE PROVISIONS IN THIS CHAPTER THAT ARE INCON-
   35  SISTENT, DIFFERENT, OR IN ADDITION TO THE PROVISIONS OF ARTICLE  THIRTY-
   36  ONE  OF  THIS  CHAPTER. THE TAX RETURNS REQUIRED TO BE FILED PURSUANT TO
   37  THIS SECTION SHALL BE PRESERVED FOR AT LEAST THREE YEARS.
   38    (C) THE RECORDING OFFICER SHALL NOT RECORD AN INSTRUMENT  EFFECTING  A
   39  CONVEYANCE UNLESS THE RETURN REQUIRED BY THIS SECTION HAS BEEN FILED AND
   40  THE  TAX  IMPOSED  PURSUANT TO THIS ARTICLE HAS BEEN PAID AS REQUIRED IN
   41  THIS SECTION.
   42    (D) IF A RETURN REQUIRED BY THIS ARTICLE IS NOT FILED, OR IF A  RETURN
   43  FILED  IS  INCORRECT  OR  INSUFFICIENT,  THE  AMOUNT OF TAX DUE SHALL BE
   44  DETERMINED BY THE TREASURER FROM SUCH RECORDS OR INFORMATION AS  MAY  BE
   45  OBTAINABLE,  INCLUDING ASSESSED VALUATION OF THE REAL PROPERTY OR INTER-
   46  EST THEREIN AND OTHER APPROPRIATE FACTORS. NOTICE OF THIS  DETERMINATION
   47  SHALL  BE  GIVEN  TO  THE  PERSON LIABLE FOR THE PAYMENT OF THE TAX. THE
   48  DETERMINATION SHALL FINALLY AND  IRREVOCABLY  FIX  THE  TAX  UNLESS  THE
   49  PERSON  AGAINST WHOM IT IS ASSESSED, WITHIN NINETY DAYS AFTER THE GIVING
   50  OF NOTICE OF  THE  DETERMINATION,  SEEKS  JUDICIAL  REVIEW  PURSUANT  TO
   51  SECTION THIRTEEN HUNDRED NINETY-SIX OF THIS ARTICLE, OR UNLESS THE TREA-
   52  SURER ON THE TREASURER'S OWN MOTION SHALL REDETERMINE THE TAX.
   53    S 1389. EXEMPTIONS. (A) THE FOLLOWING SHALL BE EXEMPT FROM THE PAYMENT
   54  OF THE TAX:
   55    (1)  THE STATE OF NEW YORK, OR ANY OF ITS AGENCIES, INSTRUMENTALITIES,
   56  POLITICAL SUBDIVISIONS,  OR  PUBLIC  CORPORATIONS  (INCLUDING  A  PUBLIC
       S. 5821                            10
    1  CORPORATION  CREATED  PURSUANT  TO  AN AGREEMENT OR COMPACT WITH ANOTHER
    2  STATE OR THE DOMINION OF CANADA); AND
    3    (2)  THE UNITED NATIONS, OR THE UNITED STATES OF AMERICA OR ANY OF ITS
    4  AGENCIES OR INSTRUMENTALITIES.
    5    (B) THE TAX SHALL NOT APPLY TO ANY OF THE FOLLOWING CONVEYANCES:
    6    (1) CONVEYANCES TO THE UNITED NATIONS, THE UNITED STATES  OF  AMERICA,
    7  THE  STATE  OF  NEW YORK, OR ANY OF THEIR INSTRUMENTALITIES, AGENCIES OR
    8  POLITICAL SUBDIVISIONS OR ANY PUBLIC  CORPORATION  (INCLUDING  A  PUBLIC
    9  CORPORATION  CREATED PURSUANT TO AGREEMENT OR COMPACT WITH ANOTHER STATE
   10  OR THE DOMINION OF CANADA);
   11    (2) CONVEYANCES WHICH ARE OR WERE USED TO SECURE A DEBT OR OTHER OBLI-
   12  GATION;
   13    (3) CONVEYANCES  WHICH,  WITHOUT  ADDITIONAL  CONSIDERATION,  CONFIRM,
   14  CORRECT, MODIFY OR SUPPLEMENT A DEED PREVIOUSLY RECORDED;
   15    (4)  CONVEYANCES  OF REAL PROPERTY WITHOUT CONSIDERATION AND OTHERWISE
   16  THAN IN CONNECTION WITH A SALE, INCLUDING DEEDS CONVEYING REALTY AS BONA
   17  FIDE GIFTS;
   18    (5) CONVEYANCES GIVEN IN CONNECTION WITH A TAX SALE;
   19    (6) CONVEYANCES TO EFFECTUATE A MERE CHANGE OF  IDENTITY  OR  FORM  OF
   20  OWNERSHIP  OR ORGANIZATION WHERE THERE IS NO CHANGE IN BENEFICIAL OWNER-
   21  SHIP, OTHER THAN CONVEYANCES TO A COOPERATIVE HOUSING CORPORATION OF THE
   22  REAL PROPERTY COMPRISING THE COOPERATIVE DWELLING OR DWELLINGS;
   23    (7) CONVEYANCES WHICH CONSIST OF A DEED OF PARTITION;
   24    (8) CONVEYANCES GIVEN PURSUANT TO THE FEDERAL BANKRUPTCY ACT;
   25    (9) CONVEYANCES OF REAL PROPERTY WHICH CONSIST OF THE EXECUTION  OF  A
   26  CONTRACT  TO  SELL  REAL  PROPERTY  WITHOUT THE USE OR OCCUPANCY OF SUCH
   27  PROPERTY OR THE GRANTING OF AN OPTION TO PURCHASE REAL PROPERTY  WITHOUT
   28  THE USE OR OCCUPANCY OF SUCH PROPERTY;
   29    (10)  CONVEYANCES  OF REAL PROPERTY FOR OPEN SPACE, PARKS, OR HISTORIC
   30  PRESERVATION PURPOSES TO ANY NOT-FOR-PROFIT TAX EXEMPT CORPORATION OPER-
   31  ATED FOR CONSERVATION, ENVIRONMENTAL,  PARKS  OR  HISTORIC  PRESERVATION
   32  PURPOSES; AND
   33    (11)  CONVEYANCES OF REAL PROPERTY WHERE THE PROPERTY IS PREDOMINANTLY
   34  VIABLE AGRICULTURAL LAND AS DEFINED  IN  SUBDIVISION  SEVEN  OF  SECTION
   35  THREE  HUNDRED  ONE  OF  THE AGRICULTURE AND MARKETS LAW, AND THE ENTIRE
   36  PROPERTY TO  BE  CONVEYED  IS  SUBJECT  TO  A  DEVELOPMENT  RESTRICTION,
   37  PROVIDED  THAT  THE  DEVELOPMENT RESTRICTION PRECLUDES THE CONVERSION OF
   38  THE  PROPERTY  TO  A  NON-AGRICULTURAL  USE  AND  THAT  THE  DEVELOPMENT
   39  RESTRICTION  IS  EVIDENCED  BY AN EASEMENT, AGREEMENT, OR OTHER SUITABLE
   40  INSTRUMENT WHICH IS TO BE CONVEYED TO  THE  MUNICIPALITY  SIMULTANEOUSLY
   41  WITH THE CONVEYANCE OF THE REAL PROPERTY.
   42    (C) AN EXEMPTION FROM THE TAX WHICH IS EQUAL TO THE MEDIAN SALES PRICE
   43  OF  RESIDENTIAL  REAL  PROPERTY  WITHIN  THE APPLICABLE TOWN OR CITY, AS
   44  DETERMINED BY THE OFFICE OF REAL PROPERTY SERVICES  PURSUANT  TO  PROCE-
   45  DURES  ADOPTED  FOR  THIS  PURPOSE  BY  THE STATE BOARD OF REAL PROPERTY
   46  SERVICES ESTABLISHED PURSUANT TO ARTICLE TWO OF THE  REAL  PROPERTY  TAX
   47  LAW, SHALL BE ALLOWED ON THE CONSIDERATION OF THE CONVEYANCE OF IMPROVED
   48  OR UNIMPROVED REAL PROPERTY OR AN INTEREST THEREIN.
   49    S  1390. CREDIT. A BUYER SHALL BE ALLOWED A CREDIT AGAINST THE TAX DUE
   50  ON A CONVEYANCE OF REAL PROPERTY TO THE EXTENT THE TAX WAS PAID  BY  THE
   51  BUYER ON A PRIOR CREATION OF A LEASEHOLD OF ALL OR A PORTION OF THE SAME
   52  REAL  PROPERTY  OR  ON THE GRANTING OF AN OPTION OR CONTRACT TO PURCHASE
   53  ALL OR A PORTION OF THE SAME REAL PROPERTY BY  THE  BUYER.  SUCH  CREDIT
   54  SHALL  BE  COMPUTED  BY  MULTIPLYING THE TAX PAID ON THE CREATION OF THE
   55  LEASEHOLD OR ON THE GRANTING OF THE OPTION OR CONTRACT  BY  A  FRACTION,
   56  THE NUMERATOR OF WHICH IS THE VALUE OF THE CONSIDERATION USED TO COMPUTE
       S. 5821                            11
    1  SUCH  TAX  PAID  WHICH  IS NOT YET DUE TO SUCH SELLER ON THE DATE OF THE
    2  SUBSEQUENT CONVEYANCE (AND WHICH SUCH SELLER WILL  NOT  BE  ENTITLED  TO
    3  RECEIVE  AFTER  SUCH  DATE),  AND  THE DENOMINATOR OF WHICH IS THE TOTAL
    4  VALUE OF THE CONSIDERATION USED TO COMPUTE SUCH TAX PAID.
    5    S 1391. COOPERATIVE HOUSING CORPORATION TRANSFERS. (A) NOTWITHSTANDING
    6  THE  DEFINITION OF "CONTROLLING INTEREST" CONTAINED IN SUBSECTION (B) OF
    7  SECTION THIRTEEN HUNDRED EIGHTY-FIVE OF THIS ARTICLE OR ANYTHING TO  THE
    8  CONTRARY  CONTAINED  IN  SUBSECTION (E) OF SUCH SECTION, THE TAX IMPOSED
    9  PURSUANT TO THIS ARTICLE SHALL APPLY TO (1) THE ORIGINAL  CONVEYANCE  OF
   10  SHARES  OF STOCK IN A COOPERATIVE HOUSING CORPORATION IN CONNECTION WITH
   11  THE GRANT OR TRANSFER OF A  PROPRIETARY  LEASEHOLD  BY  THE  COOPERATIVE
   12  CORPORATION  OR COOPERATIVE PLAN SPONSOR, AND (2) THE SUBSEQUENT CONVEY-
   13  ANCE OF THE STOCK IN A COOPERATIVE  HOUSING  CORPORATION  IN  CONNECTION
   14  WITH THE GRANT OR TRANSFER OF A PROPRIETARY LEASEHOLD BY THE OWNER THER-
   15  EOF.  WITH RESPECT TO ANY SUBSEQUENT CONVEYANCE WHERE THE PROPERTY IS AN
   16  INDIVIDUAL RESIDENTIAL UNIT, THE CONSIDERATION FOR THE INTEREST CONVEYED
   17  SHALL EXCLUDE THE VALUE OF ANY LIENS ON CERTIFICATES OF STOCK  OR  OTHER
   18  EVIDENCES  OF  AN  OWNERSHIP  INTEREST IN AND A PROPRIETARY LEASE FROM A
   19  CORPORATION OR PARTNERSHIP FORMED FOR THE PURPOSE OF COOPERATIVE  OWNER-
   20  SHIP  OF  RESIDENTIAL  INTEREST  IN REAL ESTATE REMAINING THEREON AT THE
   21  TIME OF CONVEYANCE. IN DETERMINING THE TAX ON A CONVEYANCE DESCRIBED  IN
   22  PARAGRAPH  ONE  OF  THIS  SUBSECTION,  A  CREDIT  SHALL BE ALLOWED FOR A
   23  PROPORTIONATE PART OF THE AMOUNT OF ANY TAX PAID UPON THE CONVEYANCE  TO
   24  THE  COOPERATIVE HOUSING CORPORATION OF THE REAL PROPERTY COMPRISING THE
   25  COOPERATIVE DWELLING OR DWELLINGS TO THE  EXTENT  THAT  SUCH  CONVEYANCE
   26  EFFECTUATED A MERE CHANGE OF IDENTITY OR FORM OF OWNERSHIP OF SUCH PROP-
   27  ERTY  AND NOT A CHANGE IN THE BENEFICIAL OWNERSHIP OF SUCH PROPERTY. THE
   28  AMOUNT OF THE CREDIT SHALL BE DETERMINED BY MULTIPLYING  THE  AMOUNT  OF
   29  TAX PAID UPON THE CONVEYANCE TO THE COOPERATIVE HOUSING CORPORATION BY A
   30  PERCENTAGE REPRESENTING THE EXTENT TO WHICH THE CONVEYANCE EFFECTUATED A
   31  MERE  CHANGE  OF  IDENTITY  OR FORM OF OWNERSHIP AND NOT A CHANGE IN THE
   32  BENEFICIAL OWNERSHIP OF THE PROPERTY, AND THEN MULTIPLYING THE RESULTING
   33  PRODUCT BY A FRACTION, THE NUMERATOR OF WHICH SHALL  BE  THE  NUMBER  OF
   34  SHARES  OF STOCK CONVEYED IN A TRANSACTION DESCRIBED IN PARAGRAPH ONE OF
   35  THIS SUBSECTION, AND THE DENOMINATOR OF WHICH SHALL BE THE TOTAL  NUMBER
   36  OF SHARES OF STOCK OF THE COOPERATIVE HOUSING CORPORATION (INCLUDING ANY
   37  STOCK  HELD BY THE CORPORATION). IN NO EVENT, HOWEVER, SHALL SUCH CREDIT
   38  REDUCE THE TAX ON A  CONVEYANCE  DESCRIBED  IN  PARAGRAPH  ONE  OF  THIS
   39  SUBSECTION  BELOW  ZERO,  NOR SHALL ANY SUCH CREDIT BE ALLOWED FOR A TAX
   40  PAID MORE THAN TWENTY-FOUR MONTHS PRIOR TO THE DATE ON WHICH OCCURS  THE
   41  FIRST  IN  A  SERIES OF CONVEYANCES OF SHARES OF STOCK IN AN OFFERING OF
   42  COOPERATIVE HOUSING CORPORATION SHARES DESCRIBED  IN  PARAGRAPH  ONE  OF
   43  THIS SUBSECTION.
   44    (B) EVERY COOPERATIVE HOUSING CORPORATION SHALL BE REQUIRED TO FILE AN
   45  INFORMATION  RETURN  WITH  THE  TREASURER BY JULY FIFTEENTH OF EACH YEAR
   46  COVERING THE PRECEDING PERIOD OF JANUARY FIRST  THROUGH  JUNE  THIRTIETH
   47  AND  BY  JANUARY FIFTEENTH OF EACH YEAR COVERING THE PRECEDING PERIOD OF
   48  JULY FIRST THROUGH DECEMBER THIRTY-FIRST. THE RETURN SHALL CONTAIN  SUCH
   49  INFORMATION  REGARDING  THE CONVEYANCE OF SHARES OF STOCK IN THE COOPER-
   50  ATIVE HOUSING CORPORATION AS THE TREASURER MAY DEEM  NECESSARY,  INCLUD-
   51  ING,  BUT  NOT LIMITED TO, THE NAMES, ADDRESSES AND EMPLOYEE IDENTIFICA-
   52  TION NUMBERS OR SOCIAL SECURITY NUMBERS OF THE SELLER AND THE BUYER, THE
   53  NUMBER OF SHARES CONVEYED, THE DATE OF THE CONVEYANCE AND THE  CONSIDER-
   54  ATION PAID FOR SUCH CONVEYANCE.
   55    S  1392.  DESIGNATION OF AGENTS. THE TREASURER IS AUTHORIZED TO DESIG-
   56  NATE THE RECORDING OFFICER TO ACT AS HIS OR HER AGENT  FOR  PURPOSES  OF
       S. 5821                            12
    1  COLLECTING  THE  TAX  AUTHORIZED  BY  THIS  ARTICLE. THE TREASURER SHALL
    2  PROVIDE FOR THE MANNER IN WHICH A PERSON MAY BE DESIGNATED AS HIS OR HER
    3  AGENT SUBJECT  TO  SUCH  TERMS  AND  CONDITIONS  AS  THE  TREASURER  MAY
    4  PRESCRIBE.    THE  TAX SHALL BE PAID TO THE AGENT AS PROVIDED IN SECTION
    5  THIRTEEN HUNDRED EIGHTY-EIGHT OF THIS ARTICLE.
    6    S 1393. LIABILITY OF RECORDING OFFICER. A RECORDING OFFICER SHALL  NOT
    7  BE  LIABLE FOR ANY UNINTENTIONAL INACCURACY IN THE AMOUNT OF TAX THAT HE
    8  OR SHE COLLECTS SO LONG AS HE OR SHE COMPUTES AND COLLECTS  THE  TAX  ON
    9  THE  AMOUNT  OF  CONSIDERATION  OR THE VALUE OF THE INTEREST CONVEYED AS
   10  THOSE AMOUNTS ARE PROVIDED TO HIM OR HER BY THE PERSON PAYING THE TAX.
   11    S 1394. REFUNDS. WHENEVER THE TREASURER  DETERMINES  THAT  ANY  MONEYS
   12  RECEIVED  UNDER THE PROVISIONS OF THE LOCAL LAW ENACTED PURSUANT TO THIS
   13  ARTICLE WERE PAID IN ERROR, HE OR  SHE  MAY  CAUSE  SUCH  MONEYS  TO  BE
   14  REFUNDED  PURSUANT TO THE REQUIREMENTS HE OR SHE MAY PRESCRIBE, PROVIDED
   15  THAT ANY APPLICATION FOR A REFUND IS FILED WITH THE TREASURER WITHIN TWO
   16  YEARS FROM THE DATE THE ERRONEOUS PAYMENT WAS MADE.
   17    S 1395. DEPOSIT AND DISPOSITION OF REVENUE. (A) ALL  TAXES,  PENALTIES
   18  AND  INTEREST IMPOSED BY THE DESIGNATED COMMUNITY UNDER THE AUTHORITY OF
   19  SECTION THIRTEEN HUNDRED EIGHTY-SIX OF THIS ARTICLE, WHICH ARE COLLECTED
   20  BY THE TREASURER OR HIS OR HER AGENTS, SHALL BE DEPOSITED  IN  A  SINGLE
   21  TRUST  FUND  FOR THE DESIGNATED COMMUNITY AND SHALL BE KEPT IN TRUST AND
   22  SEPARATE AND APART FROM ALL OTHER MONEYS IN POSSESSION OF THE TREASURER.
   23  MONEYS IN THIS FUND  SHALL  BE  DEPOSITED  AND  SECURED  IN  THE  MANNER
   24  PROVIDED  BY SECTION TEN OF THE GENERAL MUNICIPAL LAW.  PENDING EXPENDI-
   25  TURE FROM THIS FUND, MONEYS IN THE FUND MAY BE INVESTED  IN  THE  MANNER
   26  PROVIDED  IN  SECTION  ELEVEN OF THE GENERAL MUNICIPAL LAW. ANY INTEREST
   27  EARNED OR CAPITAL GAIN REALIZED ON THESE  MONEYS  SHALL  ACCRUE  TO  AND
   28  BECOME PART OF THE FUND.
   29    (B)  THE  TREASURER SHALL RETAIN THE AMOUNT HE OR SHE DETERMINES TO BE
   30  NECESSARY FOR REFUNDS WITH RESPECT TO THE TAX IMPOSED BY THE  DESIGNATED
   31  COMMUNITY, UNDER THE AUTHORITY OF SECTION THIRTEEN HUNDRED EIGHTY-SIX OF
   32  THIS  ARTICLE, OUT OF WHICH THE TREASURER SHALL PAY ANY REFUNDS OF TAXES
   33  TO THOSE TAXPAYERS ENTITLED TO A REFUND PURSUANT TO  THE  PROVISIONS  OF
   34  THIS ARTICLE.
   35    (C)  THE  TREASURER, AFTER RESERVING THESE REFUNDS, SHALL ON OR BEFORE
   36  THE TWELFTH DAY OF EACH MONTH PAY TO THE DESIGNATED COMMUNITY THE TAXES,
   37  PENALTIES, AND INTEREST IMPOSED BY THE DESIGNATED  COMMUNITY  UNDER  THE
   38  AUTHORITY  OF  SECTION  THIRTEEN  HUNDRED  EIGHTY-SIX  OF  THIS ARTICLE,
   39  COLLECTED BY THE TREASURER, DURING THE  PRECEDING  CALENDAR  MONTH.  THE
   40  AMOUNT  PAYABLE  SHALL  BE  CERTIFIED TO THE DESIGNATED COMMUNITY BY THE
   41  TREASURER, WHO SHALL NOT BE HELD LIABLE FOR ANY UNINTENTIONAL INACCURACY
   42  IN THE CERTIFICATION. PROVIDED, HOWEVER, ANY CERTIFICATION MAY BE  BASED
   43  ON  INFORMATION  AS  MAY  BE  AVAILABLE TO THE TREASURER AT THE TIME THE
   44  CERTIFICATION MUST BE MADE UNDER THIS SECTION.  WHERE  THE  AMOUNT  PAID
   45  OVER  TO  THE DESIGNATED COMMUNITY IN ANY MONTH IS MORE OR LESS THAN THE
   46  AMOUNT DUE TO THE DESIGNATED COMMUNITY, THE AMOUNT OF THE OVERPAYMENT OR
   47  UNDERPAYMENT SHALL BE CERTIFIED TO THE DESIGNATED COMMUNITY BY THE TREA-
   48  SURER, WHO SHALL NOT BE HELD LIABLE FOR ANY UNINTENTIONAL INACCURACY  IN
   49  THE  CERTIFICATION.  THE AMOUNT OF THE OVERPAYMENT OR UNDERPAYMENT SHALL
   50  BE CERTIFIED TO THE DESIGNATED COMMUNITY AS SOON AFTER THE DISCOVERY  OF
   51  THE  OVERPAYMENT  OR  UNDERPAYMENT AS REASONABLY POSSIBLE AND SUBSEQUENT
   52  PAYMENTS BY THE TREASURER TO THE DESIGNATED COMMUNITY SHALL BE  ADJUSTED
   53  BY  SUBTRACTING  THE  AMOUNT  OF  ANY  OVERPAYMENT FROM OR BY ADDING THE
   54  AMOUNT OF ANY UNDERPAYMENT TO SUBSEQUENT PAYMENTS AS THE  TREASURER  AND
   55  DESIGNATED  COMMUNITY  CONSIDER REASONABLE IN VIEW OF THE OVERPAYMENT OR
   56  UNDERPAYMENT AND ALL OTHER FACTS AND CIRCUMSTANCES.
       S. 5821                            13
    1    (D) ALL MONEYS RECEIVED BY A DESIGNATED COMMUNITY FROM  THE  TREASURER
    2  SHALL  BE DEPOSITED IN THE COMMUNITY PRESERVATION FUND OF THE DESIGNATED
    3  COMMUNITY, PURSUANT TO SECTION SIX-T OF THE GENERAL MUNICIPAL LAW.
    4    S  1396. JUDICIAL REVIEW. (A) ANY FINAL DETERMINATION OF THE AMOUNT OF
    5  ANY TAX PAYABLE UNDER SECTION  THIRTEEN  HUNDRED  EIGHTY-EIGHT  OF  THIS
    6  ARTICLE SHALL BE REVIEWABLE FOR ERROR, ILLEGALITY OR UNCONSTITUTIONALITY
    7  OR   ANY   OTHER   REASON  WHATSOEVER  BY  A  PROCEEDING  UNDER  ARTICLE
    8  SEVENTY-EIGHT OF THE CIVIL PRACTICE LAW AND RULES IF APPLICATION  THERE-
    9  FOR  IS MADE TO THE SUPREME COURT WITHIN FOUR MONTHS AFTER THE GIVING OF
   10  THE NOTICE OF THE  FINAL  DETERMINATION,  PROVIDED,  HOWEVER,  THAT  ANY
   11  PROCEEDING  UNDER  ARTICLE  SEVENTY-EIGHT  OF THE CIVIL PRACTICE LAW AND
   12  RULES SHALL NOT BE INSTITUTED UNLESS (1) THE AMOUNT OF ANY TAX SOUGHT TO
   13  BE REVIEWED, WITH THE INTEREST AND PENALTIES THEREON AS MAY BE  PROVIDED
   14  FOR  BY  LOCAL LAW SHALL BE FIRST DEPOSITED AND THERE IS FILED AN UNDER-
   15  TAKING, ISSUED BY A SURETY COMPANY AUTHORIZED TO  TRANSACT  BUSINESS  IN
   16  THIS  STATE  AND APPROVED BY THE STATE SUPERINTENDENT OF INSURANCE AS TO
   17  SOLVENCY AND RESPONSIBILITY, IN SUCH AMOUNT AS A JUSTICE OF THE  SUPREME
   18  COURT  SHALL  APPROVE TO THE EFFECT THAT IF SUCH PROCEEDING BE DISMISSED
   19  OR THE TAX CONFIRMED THE PETITIONER WILL PAY ALL COSTS AND CHARGES WHICH
   20  MAY ACCRUE IN THE PROSECUTION OF SUCH PROCEEDING OR (2) AT THE OPTION OF
   21  THE PETITIONER, SUCH UNDERTAKING MAY BE IN A SUM SUFFICIENT TO COVER THE
   22  TAXES, INTEREST AND PENALTIES STATED IN  SUCH  DETERMINATION,  PLUS  THE
   23  COSTS  AND CHARGES WHICH MAY ACCRUE AGAINST IT IN THE PROSECUTION OF THE
   24  PROCEEDING, IN WHICH EVENT THE PETITIONER SHALL NOT BE REQUIRED  TO  PAY
   25  SUCH TAXES, INTEREST OR PENALTIES AS A CONDITION PRECEDENT TO THE APPLI-
   26  CATION.
   27    (B) WHERE ANY TAX IMPOSED HEREUNDER SHALL HAVE BEEN ERRONEOUSLY, ILLE-
   28  GALLY  OR  UNCONSTITUTIONALLY  ASSESSED OR COLLECTED AND APPLICATION FOR
   29  THE REFUND OR REVISION THEREOF DULY MADE TO THE PROPER FISCAL OFFICER OR
   30  OFFICERS, AND SUCH OFFICER OR OFFICERS SHALL HAVE MADE  A  DETERMINATION
   31  DENYING  SUCH REFUND OR REVISION, SUCH DETERMINATION SHALL BE REVIEWABLE
   32  BY A PROCEEDING UNDER ARTICLE SEVENTY-EIGHT OF THE  CIVIL  PRACTICE  LAW
   33  AND  RULES;  PROVIDED,  HOWEVER,  THAT (1) SUCH PROCEEDING IS INSTITUTED
   34  WITHIN FOUR MONTHS AFTER THE GIVING OF THE NOTICE OF SUCH DENIAL, (2)  A
   35  FINAL  DETERMINATION  OF  TAX  DUE  WAS  NOT PREVIOUSLY MADE, AND (3) AN
   36  UNDERTAKING IS FILED WITH THE PROPER FISCAL OFFICER OR OFFICERS IN  SUCH
   37  AMOUNT  AND  WITH  SUCH SURETIES AS A JUSTICE OF THE SUPREME COURT SHALL
   38  APPROVE TO THE EFFECT THAT IF SUCH PROCEEDING BE DISMISSED  OR  THE  TAX
   39  CONFIRMED,  THE  PETITIONER  WILL  PAY  ALL  COSTS AND CHARGES WHICH MAY
   40  ACCRUE IN THE PROSECUTION OF SUCH PROCEEDING.
   41    S 1397. APPORTIONMENT. A LOCAL LAW ADOPTED BY ANY DESIGNATED  COMMUNI-
   42  TY,  PURSUANT  TO THIS ARTICLE, SHALL PROVIDE FOR A METHOD OF APPORTION-
   43  MENT FOR DETERMINING THE AMOUNT OF TAX DUE WHENEVER THE REAL PROPERTY OR
   44  INTEREST THEREIN IS SITUATED WITHIN AND WITHOUT THE DESIGNATED  COMMUNI-
   45  TY.
   46    S 1398. MISCELLANEOUS. A LOCAL LAW ADOPTED BY ANY DESIGNATED COMMUNITY
   47  PURSUANT  TO  THIS  ARTICLE  MAY CONTAIN OTHER PROVISIONS THE DESIGNATED
   48  COMMUNITY DEEMS NECESSARY FOR  THE  PROPER  ADMINISTRATION  OF  THE  TAX
   49  IMPOSED  PURSUANT  TO  THIS ARTICLE, INCLUDING PROVISIONS CONCERNING THE
   50  DETERMINATION OF TAX, THE IMPOSITION OF INTEREST  ON  UNDERPAYMENTS  AND
   51  OVERPAYMENTS  AND  THE  IMPOSITION  OF  CIVIL PENALTIES. SUCH PROVISIONS
   52  SHALL BE IDENTICAL TO THE CORRESPONDING PROVISIONS OF  THE  REAL  ESTATE
   53  TRANSFER  TAX  IMPOSED  BY ARTICLE THIRTY-ONE OF THIS CHAPTER, SO FAR AS
   54  THOSE PROVISIONS CAN BE MADE APPLICABLE TO THE TAX IMPOSED  PURSUANT  TO
   55  THIS ARTICLE.
       S. 5821                            14
    1    S  1399.  RETURNS  TO BE CONFIDENTIAL.   (A) EXCEPT IN ACCORDANCE WITH
    2  PROPER JUDICIAL ORDER OR AS OTHERWISE  PROVIDED  BY  LAW,  IT  SHALL  BE
    3  UNLAWFUL  FOR  THE TREASURER OR ANY OFFICER OR EMPLOYEE OF THE COUNTY OR
    4  DESIGNATED COMMUNITY, INCLUDING ANY PERSON ENGAGED  OR  RETAINED  ON  AN
    5  INDEPENDENT  CONTRACT  BASIS, TO DIVULGE OR MAKE KNOWN IN ANY MANNER THE
    6  PARTICULARS SET FORTH OR DISCLOSED IN ANY RETURN REQUIRED UNDER A  LOCAL
    7  LAW ENACTED PURSUANT TO THIS ARTICLE. PROVIDED, HOWEVER, THAT NOTHING IN
    8  THIS SECTION SHALL PROHIBIT THE RECORDING OFFICER FROM MAKING A NOTATION
    9  ON  AN  INSTRUMENT  EFFECTING  A CONVEYANCE INDICATING THE AMOUNT OF TAX
   10  PAID. NO RECORDED INSTRUMENT EFFECTING A CONVEYANCE SHALL BE  CONSIDERED
   11  A RETURN FOR PURPOSES OF THIS SECTION.
   12    (B) THE OFFICERS CHARGED WITH THE CUSTODY OF SUCH RETURNS SHALL NOT BE
   13  REQUIRED  TO  PRODUCE  ANY  OF THEM OR EVIDENCE OF ANYTHING CONTAINED IN
   14  THEM IN ANY ACTION OR PROCEEDING IN ANY COURT, EXCEPT ON BEHALF  OF  THE
   15  COUNTY OR DESIGNATED COMMUNITY IN ANY ACTION OR PROCEEDING INVOLVING THE
   16  COLLECTION OF A TAX DUE UNDER A LOCAL LAW ENACTED PURSUANT TO THIS ARTI-
   17  CLE  TO WHICH THE COUNTY OR DESIGNATED COMMUNITY IS A PARTY, OR A CLAIM-
   18  ANT, OR ON BEHALF OF ANY PARTY TO ANY ACTION  OR  PROCEEDING  UNDER  THE
   19  PROVISIONS  OF  A  LOCAL  LAW  ENACTED PURSUANT TO THIS ARTICLE WHEN THE
   20  RETURNS OR FACTS SHOWN THEREBY ARE DIRECTLY INVOLVED IN  THE  ACTION  OR
   21  PROCEEDING,  IN ANY OF WHICH EVENTS THE COURT MAY REQUIRE THE PRODUCTION
   22  OF, AND MAY ADMIT IN EVIDENCE, SO MUCH OF THE RETURNS OR  OF  THE  FACTS
   23  SHOWN THEREBY, AS ARE PERTINENT TO THE ACTION OR PROCEEDING AND NO MORE.
   24    (C)  NOTHING IN THIS SECTION SHALL BE CONSTRUED TO PROHIBIT THE DELIV-
   25  ERY TO A SELLER OR BUYER OF AN INSTRUMENT EFFECTING A CONVEYANCE OR  THE
   26  DULY  AUTHORIZED REPRESENTATIVE OF A SELLER OR BUYER OF A CERTIFIED COPY
   27  OF ANY RETURN FILED IN CONNECTION WITH THAT INSTRUMENT  OR  TO  PROHIBIT
   28  THE  PUBLICATION OF STATISTICS SO CLASSIFIED AS TO PREVENT THE IDENTIFI-
   29  CATION OF PARTICULAR RETURNS AND THE ITEMS THEREOF, OR THE INSPECTION BY
   30  THE LEGAL REPRESENTATIVES OF THE COUNTY OR DESIGNATED COMMUNITY  OF  THE
   31  RETURN OF ANY TAXPAYER WHO SHALL BRING ACTION TO SET ASIDE OR REVIEW THE
   32  TAX BASED THEREON.
   33    S 4. This act shall take effect immediately.
feedback