S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         10323
                                 I N  A S S E M B L Y
                                     May 22, 2012
                                      ___________
       Introduced by M. of A. CAHILL -- read once and referred to the Committee
         on Real Property Taxation
       AN  ACT  to  amend the real property tax law, in relation to providing a
         tax exemption for specific real property used to provide  housing  for
         aged persons in the city of Kingston
         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 422 of the real property  tax  law
    2  is amended by adding a new paragraph (d) to read as follows:
    3    (D)  REAL  PROPERTY  OWNED  BY  A NOT-FOR-PROFIT CORPORATION ORGANIZED
    4  PURSUANT TO THE NOT-FOR-PROFIT CORPORATION LAW  AND  THE  PROVISIONS  OF
    5  ARTICLE  TWO  OF  THE  PRIVATE  HOUSING FINANCE LAW, USED EXCLUSIVELY TO
    6  PROVIDE HOUSING FOR AGED PERSONS OF LOW, MODERATE OR MIDDLE  INCOME  WHO
    7  AS  DEFINED BY THE NEW YORK STATE HOUSING FINANCE AGENCY REQUIRE ASSIST-
    8  ANCE WITH AT LEAST ONE INSTRUMENTAL ACTIVITY OF DAILY  LIVING  AND  SOME
    9  SUPPORTIVE  SERVICES,  INCLUDING  BUT  NOT  LIMITED TO CONGREGATE MEALS;
   10  ACCESS TO MEDICAL ASSISTANCE; SECURITY;  HOUSEKEEPING  AND  OTHER  INCI-
   11  DENTALS  AT  80  WASHINGTON AVENUE, CITY OF KINGSTON, OTHERWISE KNOWN AS
   12  SECTION 56.107, BLOCK 4, LOT 12 WILL BE ENTITLED TO AN EXEMPTION  SUBSE-
   13  QUENT  TO  TAXABLE STATUS FOR THE TWO THOUSAND TEN, TWO THOUSAND ELEVEN,
   14  TWO THOUSAND TWELVE, TWO THOUSAND THIRTEEN, TWO THOUSAND  FOURTEEN,  TWO
   15  THOUSAND  FIFTEEN,  TWO  THOUSAND  SIXTEEN,  TWO THOUSAND SEVENTEEN, TWO
   16  THOUSAND EIGHTEEN, TWO THOUSAND NINETEEN, TWO THOUSAND TWENTY, TWO THOU-
   17  SAND TWENTY-ONE, AND TWO THOUSAND TWENTY-TWO ASSESSMENT YEARS.
   18    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15940-01-2