What's happening
This bill removes property tax exemptions for industrial development agency properties in certain large counties, making them taxable by fire and ambulance districts.
Why it matters
Shifts tax burden for fire and ambulance services. By making IDA-owned properties taxable by fire and ambulance districts in certain large counties, the bill ensures these agencies have a broader tax base, potentially reducing pressure on homeowners and other local taxpayers to fund essential emergency services.
Targets specific high-population counties. The change only affects counties with populations between 1.49 and 1.51 million (based on the latest census), meaning it is a focused policy adjustment rather than a statewide overhaul, likely impacting places like Nassau or Suffolk counties on Long Island.
Protects current IDA deals. Existing projects with finalized financial agreements (such as issued bonds or signed leases) are grandfathered in, avoiding retroactive impacts and providing certainty to current businesses and local governments.
May influence future economic development strategies. By removing full property tax exemptions for some IDA properties, the bill could affect how local governments use IDAs to attract businesses, possibly making them weigh the benefits of these incentives against the need for local service funding.
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
End Tax Breaks for Districts
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to real property taxation
- Referred to real property taxation
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.
End Tax Breaks for Districts
In Senate Committee · Local Government · Sponsor Kenneth P. LaValle
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
6182
2017-2018 Regular Sessions
IN ASSEMBLY
February 27, 2017
Introduced by M. of A. PALUMBO -- read once and referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to the real property tax exemption for industrial development agencies
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 1 of section 412-a of the real property tax law, as amended by chapter 372 of the laws of 1991, is amended to read as follows:
1. Real property owned by or under the jurisdiction, supervision or control of industrial development agencies enumerated in the general municipal law shall be entitled to such exemption as may be provided therein; except that in counties with a population of not less than one million four hundred ninety thousand nor more than one million five hundred ten thousand as determined by the latest federal decennial census, such real property shall remain subject to taxation by fire districts, fire protection districts and ambulance districts.
§ 2. This act shall take effect immediately and shall apply to assessment rolls prepared on the basis of taxable status dates occurring on or after such date, but shall not apply to projects for which an agency, through the issuance of its bonds, execution of leases or the passage of an inducement resolution or bond resolution, has authorized any assistance prior to the date on which this act shall become law, whether or not such projects are thereafter modified.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08132-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.