Bill Text: NY S06385 | 2015-2016 | General Assembly | Amended

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Bill Title: Relates to real property tax exemptions available to veterans.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2016-04-08 - SIGNED CHAP.22 [S06385 Detail]

Download: New_York-2015-S06385-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                         6385--A
            Cal. No. 16
                    IN SENATE
                                     January 8, 2016
                                       ___________
        Introduced  by  Sen. LAVALLE -- read twice and ordered printed, and when
          printed to be committed to the Committee on Rules -- reported  favora-
          bly  from said committee, ordered to a third reading, passed by Senate
          and delivered to the Assembly, recalled, vote  reconsidered,  restored
          to  third  reading, amended and ordered reprinted, retaining its place
          in the order of third reading
        AN ACT to amend the real property tax law, relating to exemptions avail-
          able to veterans, as proposed in legislative bill numbers S.4391-A and
          A.6223-A, in relation to exemptions available to veterans
          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 (c) of subdivision 2 of
     2  section 458-b of the real property tax law, as amended by section 2 of a
     3  chapter of the laws of 2015, amending the real property tax law relating
     4  to exemptions available to veterans, as  proposed  in  legislative  bill
     5  numbers S.4391-A and A.6223-A, is amended to read as follows:
     6    (iii)  The  exemption  provided  by  paragraph (a) of this subdivision
     7  shall be granted for a period of ten years. The commencement of such ten
     8  year period shall be governed pursuant to  this  subparagraph.  Where  a
     9  qualified  owner owns qualifying residential real property on the effec-
    10  tive date of the local law providing for such exemption, such  ten  year
    11  period  shall  be measured from the assessment roll prepared pursuant to
    12  the first taxable status date occurring on or after the  effective  date
    13  of  the  local law providing for such exemption. Where a qualified owner
    14  does not own qualifying residential real property on the effective  date
    15  of  the  local  law  providing  for such exemption, such ten year period
    16  shall be measured from the assessment  roll  prepared  pursuant  to  the
    17  first  taxable  status date occurring at least sixty days after the date
    18  of purchase of qualifying residential real property; provided,  however,
    19  that  should  the  veteran  apply for and be granted an exemption on the
    20  assessment roll prepared pursuant to a  taxable  status  date  occurring
    21  within sixty days after the date of purchase of residential real proper-
    22  ty,  such  ten  year  period shall be measured from the first assessment
    23  roll in which the exemption occurs. If, before the  expiration  of  such
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08164-07-6