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Sponsors
Senator · Senate District 61
No co-sponsors yet.
History
- Approval memo.2
- Signed chap.406
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading rules cal.674
- Substituted for A7570A
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 63–0
- Ordered to third reading cal.1827
- Committee discharged and committed to rules
Show 6 earlier actions
- Amended by restoring to previous print 5196a
- Print number 5196b
- Amend and recommit to local government
- Print number 5196a
- 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 a residential redevelopment inhibited property exemption in certain cities
Assembly Floor Calendar · Sponsor Stephen Hawley
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the real property tax law, in relation to authorizing a residential redevelopment inhibited property exemption in certain cities
Purpose or general idea of bill
To authorize certain cities to institute a property tax exemption on the increased assessment associated with the repair and redevelopment of certain dilapidated residential properties to the extent that the assessment would appreciate as a result of the repair and redevelopment.
Summary of specific provisions
Section 1- sets forth the terms of a residential redevelopment inhibited property exemption as follows:
1. definitions.
2. authorizes certain cities to provide for a real property exemption under certain circumstances, and further permit the county in which such property is located, after public hearing and local law, to offer the same exemption.
3. sets forth property that can be designated for the exemption.
4. provides for exemption.
5. describes term and amount of exemption
6. limitation on exemption
Section 2- provides that the act shall take effect immediately.
Justification
This bill has been introduced at the request of the City of Batavia. The City is faced with a large number of single family homes that are dilapidated and in need of extensive and costly repairs. These costs can exceed the value of the home when complete, and as a result, they sit unused. These homes reduce the values of the houses that surround them and their neighborhoods in general, and this bill will provide needed incentive to make necessary redevelopment occur. There is no actual cost for these incentives, since without them the properties will continue to languish with low values or off the tax rolls entirely, and surrounding values will continue to be depressed. More importantly, these neighborhoods will provide a better place for its residents to live.
Prior legislative history
New bill.
Fiscal implications
None to the state.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.