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S7770Senate2015-2016 SessionSame asA10143

Relates to sales of certain property made to the Suffolk County Landbank Corporation

Sponsor Kenneth P. LaValleSD-1Affects Finance
Status
Signed by Governor
Impact
Pending
Outcome
Signed into law

Bill progress

Signed into law

What's happening

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Who cares

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Sponsors

Primary sponsor
Kenneth P. LaValle

Senator · Senate District 1

Chair, Higher Education

No co-sponsors yet.

History

  1. Signed chap.440
  2. Delivered to governor
  3. Returned to senate
  4. Passed assembly
  5. Ordered to third reading rules cal.304
  6. Substituted for A10143B
  7. Referred to ways and means
  8. Delivered to assembly
  9. Passed senateVote 62–0
  10. Advanced to third reading
  11. Amended 7770b
  12. 2nd report cal.
Show 3 earlier actions
  1. Amended 7770a
  2. 1st report cal.1305
  3. 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.

A10143Assembly

Relates to sales of certain property made to the Suffolk County Landbank Corporation

Assembly Floor Calendar · Sponsor Steven Englebright

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

Title of bill

An act to amend the Suffolk county tax act, in relation to sales of certain property made to the Suffolk County Landbank Corporation

Purpose

To amend the Suffolk County Tax Act to conform its provisions with Article Sixteen of the Not For Profit Corporation Law.

Summary of provisions

This bill adds a new section 46a to the Suffolk County Tax Act to provide that consideration for the transfer of tax liens to the Suffolk County Landbank Corporation may be in conformity with Article 16 of the Not For Profit Corporation Law.

Justification

The Suffolk Landbank Corporation was created pursuant to Article 16 of the Not For Profit Corporation Law to facilitate the revitalization and improvement of tax delinquent properties impaired by pollution or other conditions that would require remediation; reducing these properties to little or no value. Article 16 of the Not For Profit Corporation Law in recognition of these situations provides that municipalities may transfer such properties on terms and conditions as they may determine and for a consideration for less than the outstanding liens. The Suffolk County Tax Act requires that transfers be for a consideration sufficient to pay the liens. This bill will clarify that the requirement in the Suffolk County Tax Act does apply to transfers to the landbanks.

Legislative history

New bill.

Fiscal implications

None to the State.

Effective date

Immediately.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.