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History
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 59–1
- Advanced to third reading
- 2nd report cal.
- 1st report cal.208
- Referred to local government
- Returned to senate
- Died in assembly
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 59–3
Show 6 earlier actions
- Advanced to third reading
- 2nd report cal.
- 1st report cal.624
- Print number 1465a
- 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.
Provides nonprofit organizations real property exemption, at local option, for those promptly applying that purchase after municipality's taxable status date
In Assembly Committee · Ways And Means · Sponsor Sandy Galef
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S1465A
Title of bill
An act to amend the real property tax law, in relation to granting a real property tax exemption to nonprofit organizations that purchase real property after the taxable status date
This law shall take effect on the first of July next succeeding the date on which it is passed.
Purpose or general idea of bill
To authorize local municipal corporations (after local law adopted) to accept and administer nonprofit tax exemption applications after the taxable status date under certain circumstances.
Summary of specific provisions
This bill would provider at the option of the locality, that when a not-for-profit organization purchases property after the taxable status date, it will be permitted to submit an application for a real property tax exemption to the assessor. This bill also establishes procedures to change the assessment roll and allow for the exemption benefits granted upon purchase of property after the taxable status date to be applied against the eligible individual's tax levy of the subsequent year. If the municipal corporation has received reimbursement for the tax credit owed to the not-for-profit organization, the tax credit shall be paid to the municipal corporation making the tax payment.
Justification
Currently, nonprofit organizations that are eligible for a real property tax exemption do not receive it immediately, after the purchase of property. They must pay the full amount of taxes, in some cases up to almost two years after purchasing the property. Since the State has deemed it proper to immediately tax property sold by someone receiving a real property tax exemption to a purchaser not entitled to an exemption, it is equally proper to grant immediate exempt status to property purchased by a nonprofit organization eligible for real property tax exemption.
Legislative history
2007/08: S.3313A - Local Government 2005/06: S.4245 - Local Government 2003/04: S.447 - Local Government 2001/02: A.7589 - Passed Assembly 1999/00: A.2714 - Passed Assembly 1997/98: A. 3982 - Passed Assembly 1995-96: A.9080 - Reported to Ways & Means
Fiscal implications
None to the state.
Effective date
Ninetieth day succeeding enactment.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.