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Sponsors
No co-sponsors yet.
History
- Substituted by A4554C
- Amended on third reading (t) 1261b
- Advanced to third reading
- 2nd report cal.
- 1st report cal.215
- Print number 1261a
- Amend and recommit to local government
- Referred to local government
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Authorizes the city of Schenectady to enter into a contract to sell some or all of the delinquent tax liens held by such city to a private party
Signed by Governor · Sponsor George Amedore
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to authorize the city of Schenectady to enter into a contract to sell some or all of the delinquent tax liens held by such city to a private party; and providing for the repeal of such provisions upon expiration thereof
Purpose
This bill continues the ability of the City of Schenectady to sell delinquent tax liens to a private party.
Summary of provisions
The bill provides that the City of Schenectady may, until December 31, 2009, enter into a contract to sell some or all of its delinquent tax liens to private parties. This authority applies to liens which have been attached to real property on or before January 31, 2010. The bill also enacts certain notification and procedural requirements which have been established in similar laws enacted for other cities (such as Chapter 505 of 2006 for the City of Amsterdam, and Chapter 44 of 2007 for the City of Gloversville).
Existing law
Chapter 177 of the Laws of 2004 authorized the City of Schenectady to enter into a contract for the sale of tax liens to a private party.
Justification
This bill was requested by the city of Schenectady (resolution 2008-203). Schenectady was the first municipality in New York State to be authorized to enter into a contract for the sale of tax liens to a private party. Schenectady's tax lien sales have been highly successful, raising significant funds for the city while also generally improving conditions for delinquent taxpayers who are able to negotiate flexible repayment terms with the private purchaser. Since the original law, other cities have sought, and have received, special legislative authority to conduct similar sales. This legislation will ensure the continued ability of the City of Schenectady to enter into new contracts for the sale of delinquent tax liens. The bill also establishes notification and procedural requirements for the City of Schenectady which are consistent with the requirements that have been enacted in the past couple of years for other cities which have been granted the authority to sell delinquent tax liens.
Legislative history
Similar to S.8796 of 2008.
Fiscal implications
None to the State.
Local fiscal implications
This legislation will permit the City of Schenectady to continue to obtain revenue from the sale of tax liens to a private party. The amount of revenue to the city will depend on the amount of tax delinquencies and the contract that is negotiated.
Effective date
This act shall take effect immediately, and shall expire and be deemed repealed on and after December 31,2011.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.