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Who cares
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Sponsors
No co-sponsors yet.
History
- Referred to real property taxation
- Referred to real property taxation
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A8607
Title of bill
An act to amend the real property tax law, in relation to redemption of certain property owned by persons deployed by the United States military
Purpose
This bill would allow any local government entity to waive fees, inter- est and penalties for the redemption of foreclosed residential real estate caused by financial hardship as a result of military activation.
Summary of specific provisions
Section 1: Bill title.
Section 2: Amends the real property tax law so that a local government can allow an owner of foreclosed residential real estate, or their surviving spouse or domestic partner, to redeem such real estate without paying any interest, penalties and fees, providing the foreclosure was a result of financial hardship caused by military activation overseas and other conditions.
Section 3: Effective date.
Justification
This bill recognizes that many service members experience hardship as a result of activation to duty and service to the country. Often, this hardship results in the foreclosure of the service member's home. They can already redeem this property, but this bill is needed to allow local governments to waive penalties, interests and fees that otherwise are owed to them.
Fiscal implications
None to the State.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.