Bill Text: NY S05673 | 2015-2016 | General Assembly | Introduced

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

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Bill Title: Authorizes cities having a population of one million or more to provide rebates of a portion of the real property taxes on owner occupied residential real property, when the owner's federal adjusted gross income does not exceed $500,000 for the preceding tax year.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2016-05-02 - PRINT NUMBER 5673A [S05673 Detail]

Download: New_York-2015-S05673-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         5673
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                     May 27, 2015
                                      ___________
       Introduced  by  Sens.  KLEIN,  AVELLA,  SAVINO -- read twice and ordered
         printed, and when printed to be committed to the Committee on Cities
       AN ACT to amend the real property tax law, in  relation  to  rebates  of
         real  property  taxes  on  certain residential real property in a city
         having a population of one million or more
         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 467-e of the real property tax
    2  law, as amended by chapter 483 of the laws of 2007, is amended  to  read
    3  as follows:
    4    1. Generally. Notwithstanding any provision of any general, special or
    5  local  law  to the contrary, any city having a population of one million
    6  or more is hereby authorized and empowered to adopt and amend local laws
    7  in accordance with this section to grant a rebate of real property taxes
    8  for fiscal years beginning on the first of July,  two  thousand  [three]
    9  FIFTEEN  and  ending on the thirtieth of June, two thousand [nine] EIGH-
   10  TEEN in the amount of the lesser of [four] FIVE hundred dollars  or  the
   11  annual  tax liability imposed on the property. [No such local law may be
   12  adopted unless, as originally adopted, it authorizes such rebate  to  be
   13  granted  in  accordance  with  this section for three consecutive fiscal
   14  years beginning with the fiscal year beginning on the first of July, two
   15  thousand three.] No such rebate shall be granted by local  law  for  any
   16  fiscal year beginning on or after the first of July, two thousand [nine]
   17  EIGHTEEN,  unless  the  council  of  such city, in fixing the annual tax
   18  rates for any such fiscal year, shall have uniformly reduced such  rates
   19  for all classes of property in order to produce real property tax relief
   20  among such classes of property in an amount not less than, in the aggre-
   21  gate,  the aggregate amount of rebate paid in such fiscal year. [No such
   22  local law implementing the provisions of this section, as amended by the
   23  chapter of the laws of two thousand seven which added this sentence, may
   24  be adopted unless, as originally adopted, such local law authorizes such
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10690-02-5
       S. 5673                             2
    1  rebate to be granted in accordance with this section for  three  consec-
    2  utive fiscal years beginning with the fiscal year beginning on the first
    3  of July, two thousand six. Any rebate authorized by local law in accord-
    4  ance  with  this  section shall be paid in the fiscal year following the
    5  fiscal year for which the rebate is granted.] If, with  respect  to  the
    6  fiscal  year  of  such city beginning on the first of July, two thousand
    7  [eight] FIFTEEN and ending on the thirtieth of June, two thousand [nine]
    8  EIGHTEEN, an increase in average real property tax rates would otherwise
    9  be necessary in the resolution of such city council fixing real property
   10  tax rates for such fiscal year pursuant to the  charter  of  such  city,
   11  then  the  rebate  to  be  paid for such fiscal year shall be reduced or
   12  eliminated as follows: where the sum to be raised by  such  increase  is
   13  less than seven hundred fifty million dollars, then such rebate shall be
   14  reduced by fifty cents for each dollar of increase, and where the sum to
   15  be  raised  by  such  increase is seven hundred fifty million dollars or
   16  more, then such rebate shall be eliminated.  The  determination  of  the
   17  reduction  or  elimination  of  such  rebate  shall be set forth in such
   18  resolution after consultation with the department  of  finance  of  such
   19  city  and  shall take effect upon the final adoption of such resolution.
   20  Such rebate shall be paid to an owner or tenant-stockholder who,  as  of
   21  the  date  the  application  provided  for  in  subdivision four of this
   22  section is due, owns a one, two or three family residence or a  dwelling
   23  unit in residential property held in the condominium or cooperative form
   24  of ownership that is the owner or tenant-stockholder's primary residence
   25  and  meets all other eligibility requirements of this section.  Notwith-
   26  standing anything to the contrary in sections four hundred twenty-one-a,
   27  four hundred twenty-one-b or four hundred twenty-one-g of this title, an
   28  owner or tenant-stockholder whose property is receiving benefits  pursu-
   29  ant  to  such  sections  shall not be prohibited from receiving a rebate
   30  pursuant to this section if such owner or tenant-stockholder  is  other-
   31  wise  eligible  to receive such rebate.  Tenant-stockholders of dwelling
   32  units in a cooperative apartment corporation incorporated  as  a  mutual
   33  company  pursuant  to  article  two, four, five or eleven of the private
   34  housing finance law shall not be entitled to the  rebate  authorized  by
   35  this  section.  Such rebate shall be paid by the commissioner of finance
   36  to eligible owners  or  tenant-stockholders  in  accordance  with  rules
   37  promulgated by the commissioner of finance.
   38    S  2. Subparagraphs 2 and 3 of paragraph a of subdivision 2 of section
   39  467-e of the real property tax law, as added by section 1 of part  V  of
   40  chapter  60 of the laws of 2004, are amended and a new subparagraph 4 is
   41  added to read as follows:
   42    (2) the property must serve as the primary residence of one or more of
   43  the owners or tenant-stockholders thereof; [and]
   44    (3) the owner must not be in arrears in the payment of  real  property
   45  taxes  in an amount in excess of twenty-five dollars for the fiscal year
   46  for which the rebate is claimed and all  prior  fiscal  years,  and  for
   47  residential  property  held  in the cooperative form of ownership, there
   48  must be no arrears in the payment of real property taxes in an amount in
   49  excess of an average of twenty-five dollars per dwelling  unit  in  such
   50  cooperative  apartment  corporation  for  the  fiscal year for which the
   51  rebate is claimed and all prior fiscal years[.]; AND
   52    (4) THE FEDERAL ADJUSTED GROSS INCOME OF THE OWNER OR OWNERS,  OR  THE
   53  TENANT-STOCKHOLDER  OR  TENANT-STOCKHOLDERS DOES NOT EXCEED FIVE HUNDRED
   54  THOUSAND DOLLARS IN THE IMMEDIATELY PRECEDING INCOME TAX YEAR.
       S. 5673                             3
    1    S 3. Paragraph a of subdivision 4 of section 467-e of the real proper-
    2  ty tax law, as amended by chapter 483 of the laws of 2007, is amended to
    3  read as follows:
    4    a. Generally. Notwithstanding any provision of any general, special or
    5  local  law to the contrary, an application for a rebate pursuant to this
    6  section for the fiscal year beginning the first of  July,  two  thousand
    7  [three]  FIFTEEN,  shall be made no later than the date published by the
    8  commissioner of finance in the city  record  and  in  other  appropriate
    9  general  notices  pursuant  to  this subdivision, which date shall be no
   10  earlier than thirty days after the effective date of  this  subdivision.
   11  An  application  for  a rebate pursuant to this section for fiscal years
   12  beginning on or after the first of July, two thousand [four] SIXTEEN and
   13  ending on the thirtieth of June, two thousand [six] EIGHTEEN,  shall  be
   14  made  no  later than the fifteenth of March of the fiscal year for which
   15  the rebate is claimed. [An application for a  rebate  pursuant  to  this
   16  section  for  fiscal  years beginning on or after the first of July, two
   17  thousand six, shall be made no later than the first of September follow-
   18  ing the fiscal year for which the rebate  is  claimed.]  All  owners  or
   19  tenant-stockholders of property who primarily reside thereon must joint-
   20  ly file an application for the rebate on or before the application dead-
   21  line, unless such owners or tenant-stockholders currently receive a real
   22  property  tax  exemption  pursuant  to section four hundred twenty-five,
   23  four hundred  fifty-eight,  four  hundred  fifty-eight-a,  four  hundred
   24  fifty-nine-c or four hundred sixty-seven of this title, in which case no
   25  separate  application  for  a  rebate  pursuant to this section shall be
   26  required. Such application may be filed by mail if it is enclosed  in  a
   27  postpaid  envelope  properly  addressed  to the commissioner of finance,
   28  deposited in a post office or official depository  under  the  exclusive
   29  care  of  the United States postal service, and postmarked by the United
   30  States postal service on or before the application deadline.  Each  such
   31  application  shall  be  made on a form prescribed by the commissioner of
   32  finance, which shall require  the  applicant  to  agree  to  notify  the
   33  commissioner  of  finance if his, her or their primary residence changes
   34  after receiving the rebate pursuant to this section, or after filing  an
   35  application  for  such  rebate,  if  his, her or their primary residence
   36  changes after filing such application, but before receiving such rebate.
   37  The commissioner of finance may request that proof of primary  residence
   38  be  submitted  with  the application. No rebate pursuant to this section
   39  shall be granted unless the applicant, if required  to  do  so  by  this
   40  subdivision,  files an application within the time periods prescribed in
   41  this subdivision.
   42    S 4. This act shall take effect immediately.