Bill Text: NY S07676 | 2011-2012 | General Assembly | Introduced

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

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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 (Republican 1-0)

Status: (Introduced - Dead) 2012-06-18 - PRINT NUMBER 7676A [S07676 Detail]

Download: New_York-2011-S07676-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7676
                                   I N  S E N A T E
                                     June 13, 2012
                                      ___________
       Introduced  by  Sen.  LARKIN -- read twice and ordered printed, and when
         printed to be committed to the Committee on Rules
       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. Section 422 of the real property  tax  law  is  amended  by
    2  adding a new subdivision 3 to read as follows:
    3    3. (A) IN A CITY WITH A POPULATION BETWEEN TWENTY-THREE THOUSAND EIGHT
    4  HUNDRED  AND  TWENTY-FOUR  THOUSAND  ACCORDING  TO  THE TWO THOUSAND TEN
    5  CENSUS, A LOCALITY SUCH AS A CITY COUNCIL OR COUNTY LEGISLATURE  MAY  BE
    6  AUTHORIZED  THROUGH AN AFFIRMATIVE VOTE OF A MAJORITY OF SUCH COUNCIL OR
    7  LEGISLATURE TO EXEMPT FROM REAL PROPERTY TAX FOR THE ASSESSMENT ROLL FOR
    8  EACH  INDIVIDUAL  ASSESSMENT  YEAR  ANY  REAL  PROPERTY   OWNED   BY   A
    9  NOT-FOR-PROFIT  CORPORATION  ORGANIZED  PURSUANT  TO  THE NOT-FOR-PROFIT
   10  CORPORATION LAW AND THE PROVISIONS OF ARTICLE TWO OF THE PRIVATE HOUSING
   11  FINANCE LAW, USED EXCLUSIVELY TO PROVIDE HOUSING  FOR  AGED  PERSONS  OF
   12  LOW,  MODERATE,  OR  MIDDLE  INCOME WHO, AS DEFINED BY THE STATE HOUSING
   13  FINANCE AGENCY, REQUIRE ASSISTANCE WITH AT LEAST ONE INSTRUMENTAL ACTIV-
   14  ITY OF DAILY LIVING, INCLUDING BUT NOT  LIMITED  TO,  CONGREGATE  MEALS;
   15  ACCESS  TO  MEDICAL  ASSISTANCE;  SECURITY; HOUSEKEEPING AND OTHER INCI-
   16  DENTALS.
   17    (B) AN AFFIRMATIVE VOTE BY  A  LOCALITY  TO  EXEMPT  A  NOT-FOR-PROFIT
   18  CORPORATION  FROM  REAL  PROPERTY  TAX  FOR ANY ASSESSMENT YEAR SHALL BE
   19  ACCEPTED BY THE COUNTY OR CITY ASSESSOR OF SUCH LOCALITY AND ANY  APPRO-
   20  PRIATE  CORRECTIONS SHALL BE MADE BY THE ASSESSOR TO THE SUBJECT ROLL OR
   21  ROLLS. IF SUCH EXEMPTION IS AUTHORIZED BY THE LOCALITY AND IF SUCH  NOT-
   22  FOR-PROFIT  CORPORATION  SHALL  HAVE  PAID  ANY TAX WITH RESPECT TO SUCH
   23  SUBJECT ROLL OR ROLLS,  THE  GOVERNING  BODY  OR  TAX  DEPARTMENT  SHALL
   24  PROVIDE  FOR  THE  REFUND  OF  THOSE TAXES PAID AND CANCEL TAXES, FINES,
   25  PENALTIES OR INTEREST REMAINING UNPAID.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15940-03-2
       S. 7676                             2
    1    S 2. This act shall take effect immediately and  shall  be  deemed  to
    2  have  been  in  full  force  and  effect  on  and after January 1, 2010;
    3  provided that this act shall expire January 1, 2023 when upon such  date
    4  the provisions of this act shall be deemed repealed.