Provides tax abatement related to the removal of lead paint

BILL NUMBER:S4032

Title of bill

An act to amend the real property tax law, in relation to providing a tax abatement related to the removal of leaded paint

Purpose or general idea of bill

Provides a tax abatement to landlords for the removal of leaded paint from their residential properties.

Summary of specific provisions

Would amend the real property tax law by adding section 467-g. The new section defines relevant terms and allows a partial tax abatement of real property taxes for residential rental dwellings where the owner removes leaded paint from the building.

Effects of present law which this bill would alter

This bill will amend the real property tax law by creating a partial tax abatement of real property taxes for residential rental property owners that remove leaded paint from their buildings.

Justification

Lead paint has historically been documented as endangering the public health by impairing the development of children. To help protect against this harm, this bill provides an incentive, in the form of a partial tax abatement of real property taxes, to landlords that remove leaded paint from their buildings. By providing the tax abatement, landlords will be able to defray a portion of the cost of removing leaded paint from their buildings.

Legislative history

S.5809 of 2007 05/11/07 Referred to Local Government S.1665A of 2011 01/11/11 REFERRED TO LOCAL GOVERNMENT: 01/04/12 REFERRED TO LOCAL GOVERNMENT: 02/10/12 AMEND AND RECOMMIT TO LOCAL GOVERNMENT: 02/10/12 PRINT NUMBER 1665A 01/09/13 REFERRED TO LOCAL GOVERNMENT: 01/08/14 REFERRED TO LOCAL GOVERNMENT

Fiscal implications for state and local governments

Undetermined.

Effective date

This act shall take effect immediately and shall apply to assessment rolls prepared on the basis of taxable status dates occurring on or after January 1, 2017.