Bill Text: NY A03947 | 2017-2018 | General Assembly | Introduced

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

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Bill Title: Requires STAR program payments to be postmarked no later than fifteen days prior to the expiration of the interest free period to pay school taxes of the year the credit is allowed, or no later than ninety days after the receipt of an application for the credit, whichever is later.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2018-01-03 - referred to real property taxation [A03947 Detail]

Download: New_York-2017-A03947-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          3947
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    January 30, 2017
                                       ___________
        Introduced  by M. of A. GALEF -- read once and referred to the Committee
          on Real Property Taxation
        AN ACT to amend the real property tax law, in relation to requiring STAR
          program payments to be issued timely
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Section  425  of  the real property tax law is amended by
     2  adding a new subdivision 17 to read as follows:
     3    17. Payment of STAR exemption. (a) Each property owner  who  completes
     4  the  application  and  registration process before July first of a given
     5  year shall have any exemption payments owed issued by  the  commissioner
     6  on  or  before  September thirtieth of that same year. In the event that
     7  the exemption payment is issued after the required date or is issued  in
     8  the  incorrect amount, the commissioner shall include a late fee of five
     9  percent, with an additional one percent per  month  thereafter,  of  the
    10  total exemption payment.
    11    (b)  Where a property owner completes the application and registration
    12  process after July first and the commissioner is to issue any  exemption
    13  payments  for  that  year,  the  commissioner  shall issue the exemption
    14  payment no later than ninety days after the completion of  the  applica-
    15  tion  and  registration process. In the event that the exemption payment
    16  is issued after the required date or is issued in the incorrect  amount,
    17  the commissioner shall include a late fee of five percent, with an addi-
    18  tional one percent per month thereafter, of the total exemption payment.
    19    §  2.  This  act shall take effect on the ninetieth day after it shall
    20  have become a law.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07549-03-7