Bill Text: NY S06310 | 2021-2022 | General Assembly | Introduced

New York Senate Bill 6310 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Relates to setting a maximum delinquent tax interest rate for payments due on owner occupied residential real property containing three or fewer dwelling units of seven and one half percent per annum.

Sponsorship: Partisan Bill (Democrat 4)

Status: (Engrossed - Dead) 2022-01-05 - REFERRED TO LOCAL GOVERNMENT [S06310 Detail]

Download: New_York-2021-S06310-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          6310

                               2021-2022 Regular Sessions

                    IN SENATE

                                     April 21, 2021
                                       ___________

        Introduced  by  Sen.  RYAN  --  read twice and ordered printed, and when
          printed to be committed to the Committee on Local Government

        AN ACT to amend the real property tax law, in relation to delinquent tax
          interest rates

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Subdivision  1  of section 924-a of the real property tax
     2  law, as amended by chapter 26 of the laws of 2003, is amended to read as
     3  follows:
     4    1. The amount of interest to be added on all taxes received after  the
     5  interest  free  period and all delinquent taxes shall be one-twelfth the
     6  rate of interest as determined pursuant to subdivision two or  two-a  of
     7  this section rounded to the nearest one-hundredth of a percentage point,
     8  except as otherwise provided by a general or special law, or a local law
     9  adopted by a city pursuant to the municipal home rule law or any special
    10  law.  Such  interest  shall  be added for each month or fraction thereof
    11  until such taxes are paid; provided however,  that  notwithstanding  any
    12  provision of general, special, or local law or resolution to the contra-
    13  ry,  in  no  case  shall the interest rate exceed seven and one-half per
    14  centum per annum of delinquent tax payments due on owner occupied  resi-
    15  dential  real  property  containing  three  or fewer dwelling units; and
    16  provided further that this limitation  shall  apply  to  units  held  in
    17  condominium  form; and provided further that such limitation shall apply
    18  to all buildings held in cooperative form regardless of owner  occupancy
    19  status;  and  provided  further  that this limitation shall not apply to
    20  real property that is vacant and abandoned, as  defined  in  subdivision
    21  two  of  section thirteen hundred nine  of the real property actions and
    22  proceedings law, which was listed on the statewide vacant and  abandoned
    23  property electronic registry, as defined in section thirteen hundred ten
    24  of  the  real  property actions and proceedings law, and remains on such
    25  registry.
    26    § 2.  This act shall take effect immediately.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10949-01-1