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Sponsors
1 Co-sponsor
History
- Referred to housing, construction and community development
- Returned to senate
- Died in assembly
- Referred to real property taxation
- Delivered to assembly
- Passed senateVote 48–10
- Amended on third reading 3851b
- Advanced to third reading
- 2nd report cal.
- 1st report cal.436
- Print number 3851a
- Amend and recommit to housing, construction and community development
Show 1 earlier action
- Referred to housing, construction and community development
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.
Makes technical corrections to the real property tax law relating to the filing of notice of intent dates for benefit qualifying alterations and improvements
In Assembly Committee · Real Property Taxation · Sponsor Joseph Lentol
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3851B
Title of bill
An act to amend the real property tax law, in relation to exemption from taxation of alterations and improvements to multiple dwellings to eliminate fire and health hazards
Purpose
Makes technical corrections to the real property tax law relating to the commencement and completion dates for benefit qualifying alterations and improvements to ensure that projects in progress upon expiration could continue to qualify for benefits.
Summary of provisions
Provides projects commenced on or before Dec. 31, 2011 and complete before Dec. 31, 2014 will qualify for benefits under the J-5I program.
Existing law
Ch. 4 of the L. of 2013 would have required certain properties to have completed work on or before December 21, 2011 in order to qualify for benefits. This will allow those projects to complete under the old J-51 program rules and continue the requirements for those projects commenced on and after January 1, 2012.
Justification
Chapter 4 of the Laws of 2013 resulted in unfair treatment of properties which had been in the process of making alterations or improvements, or that had commenced a conversion prior to the expiration of the J-51 Program. The J-51 program has been continued in Chapter 4 but has set new threshold requirements in order to receive benefits. Those projects which had been underway when the existing law expired had a reasonable expectation in having the program continue and that the properties would receive the benefits under the J-51 program. This legislation creates a narrow window to allow those properties to continue to qualify for benefits, while continuing the important reforms to the program for projects commenced after January 1, 2012.
Legislative history
New Bill
Fiscal implications
None to the State.
Effective date
On the same date and in the same manner as Ch. 4 of the Laws of 2013.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.