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History
- Signed chap.500
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading rules cal.548
- Substituted for A6930
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 63–0
- Ordered to third reading cal.1675
- Committee discharged and committed to rules
- 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 that oil, gas, and mineral rights shall be sold along with any property sold pursuant to a tax foreclosure sale
Assembly Floor Calendar · Sponsor Sandy Galef
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S5288
Title of bill
An act to amend the real property tax law, in relation to the sale of gas, oil, and mineral rights associated with a foreclosed property
Purpose
The purpose of this legislation is make certain that oil, gas, and mineral rights be sold with it property when involved in a tax foreclo- sure sale.
Summary of provisions
Section 1. Subdivision 1 of section 1166 of the Real Property Tax Law is amended as follows: 1. Whenever any tax district shall become vested with the title to real property by virtue of a foreclosure proceeding brought pursuant to the provisions of this article, such tax district is hereby authorized to sell and convey the real property so acquired, which shall include any and all gas, oil or mineral rights associated with such real property, either with or without advertising for bids, notwithstanding the provisions of any general, special or local law.
Section 2. This act shall take effect on the first of January next succeeding the date on which it shall have become a law.
Justification
This legislation is intended to prevent a tax district from stripping gas, oil or mineral rights from properties obtained through foreclosure proceeding prior to the time such property is either sold to a buyer through auction or sealed bid, or in some cases sold privately back to its original owner. Simply state, it should not be a purpose of local governments (usually counties) to act as stewards of the underground energy or mineral rights of properties acquired through foreclosure. The sale of these rights, if they are to occur, is more properly determined by arms-length transactions between privately property owners.
Legislative history
New Bill
Fiscal implications
There are no fiscal implications associated with the passage of this legislation.
Effective date
This act shall take effect on the first of January next succeeding the date on which it shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.