Bill Text: NY S08157 | 2009-2010 | General Assembly | Introduced
Bill Title: Relates to tax exemptions for new multiple dwellings in New York city upon which construction is commenced before December 28, 2014.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2010-06-14 - REFERRED TO RULES [S08157 Detail]
Download: New_York-2009-S08157-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
8157
I N S E N A T E
June 14, 2010
___________
Introduced by Sen. ESPADA -- read twice and ordered printed, and when
printed to be committed to the Committee on Rules
AN ACT to amend the real property tax law, in relation to tax exemptions
for new multiple dwellings
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. The opening paragraph of item (A) of subparagraph (iv) of
2 paragraph (a) of subdivision 2 of section 421-a of the real property tax
3 law, as amended by chapter 618 of the laws of 2007, is amended to read
4 as follows:
5 Unless excluded by local law, in the city of New York, the benefits of
6 this subparagraph shall be available in the borough of Manhattan for new
7 multiple dwellings on tax lots now existing or hereafter created south
8 of or adjacent to either side of one hundred tenth street [which] THAT
9 commence construction after July first, nineteen hundred ninety-two and
10 before December twenty-eighth, two thousand [ten] FOURTEEN only if:
11 S 2. Subparagraph (ii) of paragraph (c) of subdivision 2 of section
12 421-a of the real property tax law, as amended by chapter 618 of the
13 laws of 2007, is amended to read as follows:
14 (ii) construction is commenced after January first, nineteen hundred
15 seventy-five and before December twenty-eighth, two thousand [ten] FOUR-
16 TEEN provided, however, that such commencement period shall not apply to
17 multiple dwellings eligible for benefits under subparagraph (iv) of
18 paragraph (a) of this subdivision;
19 S 3. Paragraph (g) of subdivision 2 of section 421-a of the real prop-
20 erty tax law, as amended by chapter 995 of the laws of 1981, is amended
21 to read as follows:
22 (g) [For] NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN ANY
23 OTHER STATE OR LOCAL LAW, FOR purposes of this section, construction
24 shall be deemed "commenced" [when excavation or alteration has begun in
25 good faith on the basis of approved construction plans] UPON THE DATE
26 THAT, PURSUANT TO ANY PERMIT APPROVED BY A DEPARTMENT OF BUILDINGS, (I)
27 A NEW METAL OR CONCRETE STRUCTURE THAT SHALL PERFORM A LOAD BEARING
28 FUNCTION IS INSTALLED AS PART OF A FOUNDATION, (II) AT LEAST ONE FULLY
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD17737-02-0
S. 8157 2
1 DRIVEN PILE OR CAISSON IS INSTALLED, OR (III) THE ACTUAL CONSTRUCTION,
2 ALTERATION, OR IMPROVEMENT OF A PRE-EXISTING BUILDING OR STRUCTURE
3 BEGINS IN A PROJECT THAT INCLUDES NEW RESIDENTIAL CONSTRUCTION AND THE
4 CONCURRENT CONVERSION, ALTERATION OR IMPROVEMENT OF A PRE-EXISTING
5 BUILDING OR STRUCTURE. PROVIDED, HOWEVER, THAT WITH RESPECT TO SUBPARA-
6 GRAPHS (I), (II) AND (III) OF THIS PARAGRAPH, THE CONSTRUCTION OF SUCH
7 MULTIPLE DWELLING IS COMPLETED WITHOUT UNDUE DELAY.
8 S 4. The opening paragraph and paragraph (iv) of subdivision 3 of
9 section 421-a of the real property tax law, the opening paragraph as
10 amended by chapter 655 of the laws of 1978 and paragraph (iv) as amended
11 by chapter 703 of the laws of 1976, are amended to read as follows:
12 [Application forms for exemption under this section shall be filed
13 with the assessors between February first and March fifteenth and, based
14 on the certification of the local housing agency as herein provided, the
15 assessors shall certify to the collecting officer the amount of taxes to
16 be abated.] If there be in a city of one million population or more a
17 department of housing preservation and development, the term "housing
18 agency" shall mean only such department of housing preservation and
19 development. [No such application shall be accepted by the assessors
20 unless accompanied by a certificate of the local housing agency certify-
21 ing the applicant's eligibility pursuant to subdivisions two and four of
22 this section.] No [such] certification of eligibility FOR BENEFITS
23 PURSUANT TO THIS SECTION shall be issued by the local housing agency
24 until such agency determines the initial adjusted monthly rent to be
25 paid by tenants residing in rental dwelling units contained within the
26 multiple dwelling and the comparative adjusted monthly rent that would
27 have to be paid by such tenants if no tax exemption were applicable as
28 provided by this section. The initial adjusted monthly rent will be
29 certified by the local housing agency as the first rent for the subject
30 dwelling units. A copy of such certification with respect to such units
31 shall be attached by the applicant to the first effective lease or occu-
32 pancy agreement. The initial adjusted monthly rent shall reflect the
33 full tax exemption benefits as approved by the agency.
34 (iv) The adjusted monthly rent per room per month shall be multiplied
35 by the room count of each rental dwelling unit to provide the initial
36 adjusted monthly rent for such dwelling unit. The agency may allow
37 adjustments in the initial adjusted monthly rent for any particular
38 dwelling units provided that the total of the initial adjusted monthly
39 rents for all of the rental dwelling units in a multiple dwelling shall
40 not exceed the total expenses of such multiple dwelling.
41 The agency shall determine the estimated comparative adjusted monthly
42 rent that would have to be paid if no tax exemption were applicable as
43 provided by this section by adding to the adjusted monthly rent for each
44 dwelling unit as hereinabove computed an amount equal to (a) the differ-
45 ence between the projected real property taxes which would be levied on
46 the multiple dwelling and the land on which it is situated at the time
47 OF estimated initial occupancy if no tax abatement were applicable as
48 provided by this section and the projected real property taxes hereina-
49 bove utilized in connection with the computation of total expenses; (b)
50 divided by the room count of the building as per this section; and (c)
51 multiplied by the applicants approved room count of each such dwelling
52 unit.
53 The local housing agency may promulgate rules and regulations to carry
54 out the provisions of this section, not inconsistent with the provisions
55 hereof, [and may require a reasonable filing fee in an amount provided
56 by such rules and regulations] INCLUDING, BUT NOT LIMITED TO, RULES AND
S. 8157 3
1 REGULATIONS RELATING TO THE FILING FEE AUTHORIZED PURSUANT TO PARAGRAPH
2 B OF SUBDIVISION FOUR OF THIS SECTION.
3 S 5. Paragraph b of subdivision 4 of section 421-a of the real proper-
4 ty tax law, as added by chapter 744 of the laws of 2004, is amended to
5 read as follows:
6 b. The local housing agency [may] SHALL require a filing fee not to
7 exceed the greater of (i) four-tenths of one percent of the total
8 project cost, or (ii) if the building will be owned as a cooperative or
9 condominium, four-tenths of one percent of the total project cost or
10 four-tenths of one percent of the total project sell-out price stated in
11 the last amendment to the offering plan accepted for filing by the
12 attorney general of the state, at the option of the applicant. Such
13 total project cost or total project sell-out price shall be determined
14 pursuant to rules promulgated by the local housing agency. Notwithstand-
15 ing the foregoing, the local housing agency may promulgate rules impos-
16 ing an additional fee if an application, or any part thereof, or
17 submission in connection therewith, is defective and such defect delays
18 the processing of such application or causes the local housing agency to
19 expend additional resources in the processing of such application.
20 S 6. Subparagraph (i) of paragraph (a) of subdivision 6 of section
21 421-a of the real property tax law, as added by chapter 110 of the laws
22 of 2005, is amended to read as follows:
23 (i) "Covered project." (A) A new building located within the Green-
24 point - Williamsburg waterfront exclusion area, (B) two or more build-
25 ings which are part of one contiguous development entirely located with-
26 in the Greenpoint - Williamsburg waterfront exclusion area, (C) two or
27 more buildings which are located within the Greenpoint - Williamsburg
28 waterfront exclusion area and are part of a single development parcel
29 specifically identified in section [62-831] 62-931 of the local zoning
30 resolution, or (D) where so authorized in writing by the local housing
31 agency, one or more buildings located within the Greenpoint - Williams-
32 burg waterfront exclusion area and one or more buildings located outside
33 the Greenpoint - Williamsburg waterfront exclusion area but within
34 Community District Number One in the borough of Brooklyn. The cumulative
35 number of affordable units located outside the Greenpoint - Williamsburg
36 waterfront exclusion area in all covered projects described in clause
37 (D) of this subparagraph shall not exceed two hundred. A building
38 located outside the Greenpoint - Williamsburg waterfront exclusion area
39 which is part of a covered project described in clause (D) of this
40 subparagraph shall not contain any affordable units with respect to
41 which an application pending before a governmental entity on the effec-
42 tive date of this subdivision or a written agreement in effect on the
43 effective date of this subdivision provided for the development of such
44 affordable units.
45 S 7. This act shall take effect immediately.
