Bill Text: NY A05484 | 2015-2016 | General Assembly | Amended

---

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

Spectrum: Slight Partisan Bill (Republican 3-1)

Status: (Introduced - Dead) 2016-02-09 - reported referred to ways and means [A05484 Detail]

Download: New_York-2015-A05484-Amended.html

---

                STATE OF NEW YORK
        ________________________________________________________________________
                                         5484--A
                               2015-2016 Regular Sessions
                   IN ASSEMBLY
                                    February 24, 2015
                                       ___________
        Introduced  by  M. of A. GALEF, CORWIN, STEC -- Multi-Sponsored by -- M.
          of A.  McLAUGHLIN -- read once and referred to the Committee  on  Real
          Property  Taxation  --  recommitted  to the Committee on Real Property
          Taxation in accordance with Assembly  Rule  3,  sec.  2  --  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 eighteen.
    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
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00055-03-6