Extends the deadline until March 1, 2024 for tax exemption applications for tax assessments for certain improved properties affected by Superstorm Sandy.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A9424
SPONSOR: Jean-Pierre
 
TITLE OF BILL:
An act to amend chapter 122 of the laws of 2015 relating to tax assess-
ments for certain improved properties affected by Superstorm Sandy, in
relation to extending the deadline for tax exemption applications
 
PURPOSE OR GENERAL IDEA OF BILL:
Extends a tax exemption for owner occupied residential property in muni-
cipalities affected by Superstorm Sandy.
 
SUMMARY OF PROVISIONS:
Section 1 amends subdivisions d and e and section 2 of chapter 122 of
the laws of 2015, as amended by chapter 259 of the laws of 2020, to
extend the duration of the exemption.
Section 2 sets the effective date.
 
DIFFERENCE BETWEEN ORIGINAL AND AMENDED VERSION (IF APPLICABLE):
N/A
 
JUSTIFICATION:
While Superstorm Sandy occurred nearly ten years ago, many storm-impact-
ed homeowners continue to conduct repairs on their homes as a proximate
result of this devastating storm event. The COVID-19 pandemic has caused
even more delays for reconstruction, and there are still many homeowners
throughout the Long Island region who are waiting for certificates of
occupancy due to construction delays. In the very near future, these
homeowners will endure higher property assessments while still facing
debt repayments associated with these critical repairs to their homes.
Moreover, increases in property taxes and the capping of the State and
Local Tax deduction by the federal government have only exacerbated
these financial difficulties. In light of these continued circumstances,
this legislation extends by two years the exemption which provides a
graduated tax mechanism for certain eligible Superstorm Sandy-impacted
homeowners.
 
PRIOR LEGISLATIVE HISTORY:
2015: A.7274
2017: A.8724
2020: A.9968
 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:
None to the state.
 
EFFECTIVE DATE:
This act shall take effect immediately.
STATE OF NEW YORK
________________________________________________________________________
9424
IN ASSEMBLY
March 7, 2022
___________
Introduced by M. of A. JEAN-PIERRE -- read once and referred to the
Committee on Ways and Means
AN ACT to amend chapter 122 of the laws of 2015 relating to tax assess-
ments for certain improved properties affected by Superstorm Sandy, in
relation to extending the deadline for tax exemption applications
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivisions d and e of section 1 and section 2 of chapter
2 122 of the laws of 2015 relating to tax assessments for certain improved
3 properties affected by Superstorm Sandy, as amended by chapter 259 of
4 the laws of 2020, are amended to read as follows:
5 d. No such exemption shall be granted for reconstruction, alterations
6 or improvements unless commenced due to damage caused by Superstorm
7 Sandy, and reflected on a certificate of occupancy no later than March
8 1, [2022] 2024. The enactment of a local law or resolution granting the
9 exemption authorized pursuant to this act may limit eligibility for the
10 exemption to those forms of reconstruction, alterations or improvements
11 as are prescribed in such local law or resolution. Provided, however,
12 that in no case shall such exemption be granted for reconstruction,
13 alterations or improvements to aspects of a primary residence not in
14 existence or otherwise not a part of the primary residence prior to
15 October 29, 2012.
16 e. Application for such exemption shall be filed with the assessor of
17 an eligible municipality by the first of March after the adoption of a
18 local law or resolution pursuant to subdivision a of this section, or
19 the first of March of any subsequent year thereafter but no later than
20 March 1, [2022] 2024, on a form prescribed by the commissioner of taxa-
21 tion and finance.
22 § 2. This act shall take effect immediately and shall apply to
23 exemption applications made prior to the first of March next succeeding
24 the date on which this act shall have become a law and no later than
25 March 1, [2022] 2024, and any exemption once granted shall continue for
26 a period of up to eight prospective tax years as set forth in this act.
27 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD14868-01-2