What's happening
This bill requires special franchise owners to provide certain public utility reports to local property tax assessors upon request.
Why it matters
Improves transparency for local tax assessors. By requiring special franchise owners to provide specific utility reports upon request, local assessors gain better access to the information needed to accurately value and tax utility-owned property.
Excludes sensitive financial data. The bill specifically excludes annual financial reports or statements from the required disclosures, aiming to protect proprietary business information while still providing operational data relevant to property assessment.
Could lead to fairer property tax assessments. With more complete and timely information, assessors may be able to make more accurate and equitable determinations of the taxable value of special franchise property, potentially impacting local government revenue and utility company tax bills.
Applies prospectively. The requirement only applies to reports filed after the law takes effect, meaning utilities will need to comply with new requests going forward, not retroactively, which could streamline implementation and reduce administrative burdens.
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Who cares
Headline styles
Share Utility Reports with Assessors
Plain English, a few words. Used as the page title.
Sponsors
Assembly Member · Assembly District 119
No co-sponsors yet.
History
- Referred to real property taxation
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
11091
IN ASSEMBLY
October 28, 2020
Introduced by COMMITTEE ON RULES -- (at request of M. of A. Buttenschon) -- read once and referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to requiring special franchise owners to provide public utility reports to assessors upon request
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The real property tax law is amended by adding a new section 604-a to read as follows:
§ 604-a. Special franchise reports to local assessors. A special franchise owner shall, upon the request of the assessor of the local assessing jurisdiction in which such owner's special franchise property is located, provide to such assessor a copy of any annual reports and supplemental reports filed by such owner with the commissioner pursuant to subdivision two of section six hundred four of this article regarding such property, except for annual financial reports or statements, within ten business days of such request.
§ 2. This act shall take effect immediately and shall apply to annual reports and supplemental reports filed with the commissioner of taxation and finance on and after such effective date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD17328-01-0
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.