Bill Text: NY A10323 | 2011-2012 | General Assembly | Amended

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Bill Title: Authorizes a tax exemption for a not-for-profit corporation used exclusively to provide housing for aged persons of low, moderate or middle income in cities with a certain population and repeals such provisions upon expiration thereof.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2012-06-18 - print number 10323b [A10323 Detail]

Download: New_York-2011-A10323-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                       10323--B
                                 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  --  committee  discharged, bill amended,
         ordered reprinted as amended and  recommitted  to  said  committee  --
         again  reported from said committee with amendments, ordered reprinted
         as amended and recommitted to said committee
       AN ACT to amend the real property tax law, in relation to authorizing  a
         tax  exemption  for  a  not-for-profit corporation used exclusively to
         provide housing for aged persons of low, moderate or middle income  in
         cities with a certain population; and providing for the repeal of such
         provisions upon expiration thereof
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The real property tax  law  is  amended  by  adding  a  new
    2  section 488-b to read as follows:
    3    S  488-B. EXEMPTION FOR PROVISION OF HOUSING FOR AGED PERSONS; CERTAIN
    4  CITIES. 1.  IN A CITY WITH A POPULATION  BETWEEN  TWENTY-THREE  THOUSAND
    5  EIGHT HUNDRED AND TWENTY-FOUR THOUSAND ACCORDING TO THE TWO THOUSAND TEN
    6  CENSUS,  A  LOCALITY SUCH AS A CITY COUNCIL OR COUNTY LEGISLATURE MAY BE
    7  AUTHORIZED THROUGH AN AFFIRMATIVE VOTE OF A MAJORITY OF SUCH COUNCIL  OR
    8  LEGISLATURE TO EXEMPT FROM REAL PROPERTY TAX FOR THE ASSESSMENT ROLL FOR
    9  EACH   INDIVIDUAL   ASSESSMENT   YEAR  ANY  REAL  PROPERTY  OWNED  BY  A
   10  NOT-FOR-PROFIT CORPORATION  ORGANIZED  PURSUANT  TO  THE  NOT-FOR-PROFIT
   11  CORPORATION LAW AND THE PROVISIONS OF ARTICLE TWO OF THE PRIVATE HOUSING
   12  FINANCE  LAW,  USED  EXCLUSIVELY  TO PROVIDE HOUSING FOR AGED PERSONS OF
   13  LOW, MODERATE, OR MIDDLE INCOME WHO, AS DEFINED  BY  THE  STATE  HOUSING
   14  FINANCE AGENCY, REQUIRE ASSISTANCE WITH AT LEAST ONE INSTRUMENTAL ACTIV-
   15  ITY  OF  DAILY  LIVING,  INCLUDING BUT NOT LIMITED TO, CONGREGATE MEALS;
   16  ACCESS TO MEDICAL ASSISTANCE; SECURITY;  HOUSEKEEPING  AND  OTHER  INCI-
   17  DENTALS.
   18    2. AN AFFIRMATIVE VOTE BY A LOCALITY TO EXEMPT A NOT-FOR-PROFIT CORPO-
   19  RATION  FROM REAL PROPERTY TAX FOR ANY ASSESSMENT YEAR SHALL BE ACCEPTED
   20  BY THE COUNTY OR CITY ASSESSOR OF  SUCH  LOCALITY  AND  ANY  APPROPRIATE
   21  CORRECTIONS  SHALL BE MADE BY THE ASSESSOR TO THE SUBJECT ROLL OR ROLLS.
   22  IF SUCH EXEMPTION IS AUTHORIZED BY THE LOCALITY AND IF SUCH NOT-FOR-PRO-
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15940-06-2
       A. 10323--B                         2
    1  FIT CORPORATION SHALL HAVE PAID ANY TAX WITH  RESPECT  TO  SUCH  SUBJECT
    2  ROLL  OR  ROLLS,  THE GOVERNING BODY OR TAX DEPARTMENT SHALL PROVIDE FOR
    3  THE REFUND OF THOSE TAXES PAID AND CANCEL  TAXES,  FINES,  PENALTIES  OR
    4  INTEREST REMAINING UNPAID.
    5    S  2.  This act shall take effect immediately; provided, however, that
    6  this act shall expire January 1, 2023 when upon such date the provisions
    7  of this act shall be deemed repealed.