Bill Text: NY S07057 | 2019-2020 | General Assembly | Amended

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Bill Title: Relates to the taxation of property owned by a cooperative corporation.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-07-10 - PRINT NUMBER 7057A [S07057 Detail]

Download: New_York-2019-S07057-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         7057--A

                    IN SENATE

                                       (Prefiled)

                                     January 8, 2020
                                       ___________

        Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
          printed to be committed  to  the  Committee  on  Local  Government  --
          committee  discharged,  bill amended, ordered reprinted as amended and
          recommitted to said committee

        AN ACT to amend the real property tax law and the real property law,  in
          relation  to  the  taxation  of property owned by a cooperative corpo-
          ration

          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 581 of the real property tax law
     2  is amended by adding a new paragraph (d) to read as follows:
     3    (d) The provisions of paragraph (a)  of  this  subdivision  shall  not
     4  apply  to  real property owned or leased by a cooperative corporation or
     5  on a condominium basis in a municipal corporation, other than a  special
     6  assessing  unit,  which has adopted, prior to the taxable status date of
     7  the assessment roll upon which its taxes will be levied, a local law or,
     8  for a school district, a resolution providing  that  the  provisions  of
     9  paragraph  (a) of this subdivision shall not apply to such real property
    10  within that municipal corporation; provided, however, the provisions  of
    11  this  paragraph  shall  not  apply to real property owned or leased by a
    12  cooperative corporation or on a condominium basis that had  been  previ-
    13  ously  subject  to  the  provisions of paragraph (a) of this subdivision
    14  prior to January first, two thousand twenty-one.
    15    § 2. Subdivision 1 of section  339-y  of  the  real  property  law  is
    16  amended by adding a new paragraph (g) to read as follows:
    17    (g)  The  provisions  of  paragraph  (b) of this subdivision shall not
    18  apply to real property owned or leased by a cooperative  corporation  or
    19  on  a  condominium basis in a municipal corporation other than a special
    20  assessing unit, which has adopted, prior to the taxable status  date  of
    21  the assessment roll upon which its taxes will be levied, a local law or,
    22  for  a  school  district,  a resolution providing that the provisions of
    23  paragraph (b) of this subdivision shall not apply to such real  property
    24  within  that municipal corporation; provided, however, the provisions of

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08645-05-0
        S. 7057--A                          2

     1  this paragraph shall not apply to real property owned  or  leased  by  a
     2  cooperative  corporation  or on a condominium basis that had been previ-
     3  ously subject to the provisions of paragraph  (b)  of  this  subdivision
     4  prior to January first, two thousand twenty-one.
     5    § 3. This act shall take effect immediately and shall apply to assess-
     6  ment rolls prepared on the basis of taxable status dates occurring on or
     7  after January 1, 2021.