Bill Text: NY S06967 | 2017-2018 | General Assembly | Introduced

---

Bill Title: Relates to the effective date for the tax exempt status of the real property of a land bank.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2018-12-28 - SIGNED CHAP.483 [S06967 Detail]

Download: New_York-2017-S06967-Introduced.html

---

                STATE OF NEW YORK
        ________________________________________________________________________
                                          6967
                               2017-2018 Regular Sessions
                    IN SENATE
                                    December 7, 2017
                                       ___________
        Introduced  by  Sen. VALESKY -- read twice and ordered printed, and when
          printed to be committed to the Committee on Rules
        AN ACT to amend the not-for-profit corporation law, in relation  to  the
          effective  date  for  the  tax exempt status of the real property of a
          land bank
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1. Paragraph (a) of section 1608 of the not-for-profit corpo-
     2  ration law, as amended by chapter 349 of the laws of 2017, is amended to
     3  read as follows:
     4    (a) The real property of a land bank and its income and operations are
     5  exempt from all taxation by the state of New York  and  by  any  of  its
     6  political subdivisions. The real property of a land bank shall be exempt
     7  from:  (i)  all  special  ad  valorem  levies and special assessments as
     8  defined in section one hundred two of the real property  tax  law;  (ii)
     9  sewer  rent  imposed  under  article fourteen-F of the general municipal
    10  law; and (iii) any and all user charges imposed by any municipal  corpo-
    11  ration,  special  district or other political subdivisions of the state,
    12  provided, however, that real property of a land bank for which such land
    13  bank receives rent, fees, or other charges for  the  use  of  such  real
    14  property  shall  not be exempt from subparagraphs (ii) and (iii) of this
    15  paragraph. Such exempt status shall be effective upon the date of trans-
    16  fer of title to a land  bank,  notwithstanding  the  applicable  taxable
    17  status  date.  Notwithstanding  any  other general, special or local law
    18  relating to fees of clerks, no clerk shall charge or collect a  fee  for
    19  filing,  recording  or  indexing  any paper, document, map or proceeding
    20  filed, recorded or indexed for a land bank, or an officer thereof acting
    21  in an official capacity, nor for furnishing a transcript,  certification
    22  or  copy  of  any paper, document, map or proceeding to be used for land
    23  bank purposes.
    24    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13716-01-7