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Who cares
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Sponsors
No co-sponsors yet.
History
- Print number 7015a
- 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.
Relates to residential investment exemptions
In Senate Committee · Local Government · Sponsor Robin Schimminger
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 residential investment exemptions in certain cities
Purpose of the bill
To encourage new housing development in the City of Tonawanda.
Summary of specific provisions
§ 1- Amends the Real Property Tax Law by adding a new § 485-s to establish the Residential Investment Exemption for certain cities.
§ 2- Effective date.
Justification
The City of Tonawanda is looking to expand its tax base by encouraging new housing development. Therefore, the Mayor and Common Council have requested that a new home property tax exemption be enacted for the City of Tonawanda in hopes that the exemption will attract new home construction.
Prior legislative history
New bill.
Fiscal implications
None to the State. Undetermined to locality as usage will determine impact.
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.