What's happening
This bill allows Top Community Development Corporation to apply late for a property tax exemption for specific Brooklyn properties for 2019.
Why it matters
Sets a precedent for flexibility in property tax exemption deadlines. By allowing a late application, this bill could signal to other nonprofits that similar relief might be possible, potentially leading to more requests for deadline exceptions.
Could improve the financial stability of Top Community Development Corporation. If granted, the exemption (and possible refunds of taxes already paid) would free up resources for this nonprofit to reinvest in its community development activities, amplifying its impact in Brooklyn.
May affect local government revenue and budgeting. Waiving taxes, penalties, and interest for past years could slightly reduce anticipated revenue for New York City, which might be a concern if similar exceptions become common.
Highlights the role of legislative intervention in administrative matters. The bill demonstrates how state legislation can override ordinary administrative rules, emphasizing the importance of advocacy and legislative relationships in addressing bureaucratic challenges for nonprofits.
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Who cares
Headline styles
Tax Break for Community Group
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- 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.
Allow Tax Exemption Application
In Assembly Committee · Real Property Taxation · Sponsor Kevin S. Parker
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
10824
IN ASSEMBLY
July 15, 2020
Introduced by COMMITTEE ON RULES -- (at request of M. of A. Perry) -read once and referred to the Committee on Real Property Taxation
AN ACT to authorize Top Community Development Corporation to file an application for a real property tax exemption
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Notwithstanding any other provision of law to the contrary, the commissioner of the New York city department of finance is hereby authorized to accept from Top Community Development Corporation an application for exemption from real property taxes pursuant to section 420-a of the real property tax law for the 2019 assessment roll, for the parcel located in the county of Kings at 1274 Utica Avenue otherwise known as section Brooklyn, 03 block 4760 lot 12, 03 block 4761 lot 53, 03 block 4761 lot 58. If accepted, the application shall be reviewed as if it had been received on or before the taxable status date established for such roll.
If satisfied that the Top Community Development Corporation: (i) acquired title to the property for which it seeks exemption subsequent to the taxable status date established for such roll and prior to the taxable status date for the next ensuing assessment roll and (ii) would otherwise be entitled to such exemption if such entity had filed an application for exemption by the appropriate taxable status date, the commissioner of the New York city department of finance, upon approval by the city council of the city of New York, may grant exemption from all taxation beginning with the date of acquisition of the property by such entity and make appropriate correction to the subject roll. If exemption is granted and such entity therefore shall have paid any tax with respect to the subject roll, the department of finance may, in its sole discretion, provide for the refund of those taxes paid including the amount of any taxes held in escrow pursuant to the sale of such property and cancel taxes, fines, penalties or interest remaining unpaid.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD13816-02-0
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.