Bill Text: NY S08084 | 2015-2016 | General Assembly | Introduced

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Bill Title: Relates to the real property tax abatement for 85 Flatbush LLC.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-06-10 - REFERRED TO RULES [S08084 Detail]

Download: New_York-2015-S08084-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          8084
                    IN SENATE
                                      June 10, 2016
                                       ___________
        Introduced  by  Sen.  FELDER -- read twice and ordered printed, and when
          printed to be committed to the Committee on Rules
        AN ACT relating to the abatement of real property taxes for 85  Flatbush
          LLC;  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. Notwithstanding any other provision of law to the contrary,
     2  the  department  of finance of the city of New York is hereby authorized
     3  to accept from 85 Flatbush LLC, a final application, required by subpar-
     4  agraph (ii) of paragraph (a) of subdivision 5 section 489-cccccc of  the
     5  real  property  tax law for abatement of real property taxes pursuant to
     6  title 2-F of article 4 of the real property tax law, as if it were time-
     7  ly filed for the parcel owned by such entity  which  is  located  at  85
     8  Flatbush  Avenue  Extension,  county  of Kings, otherwise known as Kings
     9  county tax map section 3, block 120, lot 45. If accepted,  the  applica-
    10  tion  shall  be  reviewed  as  if  it had been received on or before the
    11  applicable filing deadline established for such application.  If  satis-
    12  fied  that  such entity would otherwise be entitled to such abatement if
    13  the entity had filed an application for  abatement  by  the  appropriate
    14  final  application  date, the department may approve the application. If
    15  such abatement is granted and such entity, therefore,  shall  have  paid
    16  any  taxes  with  respect  to  years during which the abatement is being
    17  sought, the department may, in its  sole  discretion,  provide  for  the
    18  refund  of  those  taxes  paid and cancel those taxes, fines, penalties,
    19  liens or interest remaining unpaid.
    20    § 2. Notwithstanding any other provision of law to the  contrary,  the
    21  time  limit  for  meeting  the  minimum required expenditure required by
    22  subparagraph (a) of subdivision 1 of  section  489-cccccc  of  the  real
    23  property  tax law for abatement of real property taxes pursuant to title
    24  2-F of article 4 of the real property tax law shall not be applicable to
    25  the parcel located at 85 Flatbush Avenue  Extension,  County  of  Kings,
    26  otherwise known as Kings county tax map section 3, block 120, lot 45.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15821-02-6
        S. 8084                             2
     1    §  3.  Notwithstanding any other provision of law to the contrary, the
     2  time limit for completion of construction required by subdivision  2  of
     3  section  489-cccccc  of  the real property tax law for abatement of real
     4  property taxes pursuant to title 2-F of article 4 of the  real  property
     5  tax  law  shall  not  be applicable to the parcel located at 85 Flatbush
     6  Avenue Extension, County of Kings, otherwise known as Kings  county  tax
     7  map section 3, block 120, lot 45.
     8    §  4.  Notwithstanding any other provision of law to the contrary, the
     9  Post Completion tax on a building or structure required by  subparagraph
    10  (c)  of subdivision 2 of section 489-bbbbbb of the real property tax law
    11  for abatement of real property taxes pursuant to title 2-F of article  4
    12  of  the  real property tax law where the building is located at 85 Flat-
    13  bush Avenue Extension, County of Kings, otherwise known as Kings  county
    14  tax  map section 3, block 120, lot 45 shall be determined by multiplying
    15  the initial tax rate by the final taxable assessed value, without regard
    16  to any exemptions, that would be shown on the assessment  roll  but  for
    17  the  abatement  on  the assessment roll with a taxable status date imme-
    18  diately following the completion of construction.
    19    § 5. Sections 489-llll and 489-kkkkkk of the real property tax law and
    20  NYC Executive Order 50 of April 25, 1980 as amended in  Executive  Order
    21  159  of  December 28, 2011 shall not be applicable to the parcel located
    22  at 85 Flatbush Avenue Extension, County of  Kings,  otherwise  known  as
    23  Kings county tax map section 3, block 120, lot 45.
    24    §  6.  This act shall take effect immediately, provided, that this act
    25  shall expire and be deemed repealed on July 1, 2017.