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S605Senate2015-2016 SessionSame asA6011

Provides nonprofit organizations real property exemption, at local option, for those promptly applying that purchase after municipality's taxable status date

Sponsor Kemp HannonSD-6+1 co-sponsorAffects Finance
Status
In Assembly Committee
Ways And Means
Impact
Pending
Passage
Pending

Bill progress

Step 5 of 7

In Assembly · Ways And Means

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Sponsors

Primary sponsor
Kemp Hannon

Senator · Senate District 6

Chair, Health

1 Co-sponsor

History

  1. Referred to ways and means
  2. Delivered to assembly
  3. Passed senateVote 58–1
  4. Advanced to third reading
  5. 2nd report cal.
  6. 1st report cal.325
  7. Referred to local government
  8. Returned to senate
  9. Died in assembly
  10. Referred to ways and means
  11. Delivered to assembly
  12. Passed senateVote 60–2
Show 4 earlier actions
  1. Advanced to third reading
  2. 2nd report cal.
  3. 1st report cal.1233
  4. 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.

A6011Assembly

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

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

Purpose

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 provisions

Sections one and two of this bill amend Real Property Tax Law §§ 420-a and 420-b, respectively, to allow, 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. They also establish a procedure to change the assessment roll and allows 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.

Section three provides that the act shall take effect 90 days after its enactment.

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 and seek state approval to file for the exemption retroactively. 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 not-for-profit organization eligible for real property tax exemption.

Legislative history

Same as S.2939 of 2014.

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.