What's happening
This bill requires the state comptroller to annually report on new or changed property tax exemptions and their fiscal impacts.
Why it matters
Increases transparency and accountability. by requiring the comptroller to annually analyze and publicly report on any new or changed property tax exemptions, making it easier for citizens and policymakers to track changes in tax policy.
Helps local governments and taxpayers understand the fiscal impact. of property tax exemptions, as the report must include estimated financial effects on all types of local governments, highlighting potential shifts in tax burdens or revenue losses.
Supports more informed decision-making. for both lawmakers and the public by providing summaries of the purpose behind each exemption change, potentially influencing future tax policy debates and priorities.
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Who cares
Headline styles
Report Tax Exemptions Annually
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
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
234
2019-2020 Regular Sessions
IN ASSEMBLY (Prefiled)
January 9, 2019
Introduced by M. of A. CAHILL -- read once and referred to the Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to requiring the comptroller to prepare and disseminate a report on exemptions from taxation
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 496 of the real property tax law is amended by adding a new subdivision 3-a to read as follows:
3-a. The comptroller shall, by January thirtieth of each year, prepare and disseminate a report:
(a) describing all bills enacted into law in the previous year creating or altering exemptions from taxation of privately owned real property;
(b) summarizing such bills' purpose; and
(c) detailing to the extent possible such bills' estimated first year and subsequent year fiscal impact on all classes of local governments.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03123-01-9
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.