•  Summary 
  •  
  •  Actions 
  •  
  •  Committee Votes 
  •  
  •  Floor Votes 
  •  
  •  Memo 
  •  
  •  Text 
  •  
  •  LFIN 
  •  
  •  Chamber Video/Transcript 

A09424 Summary:

BILL NOA09424
 
SAME ASSAME AS S08718
 
SPONSORJean-Pierre
 
COSPNSR
 
MLTSPNSR
 
Amd §§1 & 2, Chap 122 of 2015
 
Extends the deadline until March 1, 2024 for tax exemption applications for tax assessments for certain improved properties affected by Superstorm Sandy.
Go to top    

A09424 Actions:

BILL NOA09424
 
03/07/2022referred to ways and means
05/03/2022reported
05/05/2022advanced to third reading cal.629
05/10/2022substituted by s8718
 S08718 AMEND= GAUGHRAN
 04/05/2022REFERRED TO LOCAL GOVERNMENT
 05/02/20221ST REPORT CAL.950
 05/03/20222ND REPORT CAL.
 05/04/2022ADVANCED TO THIRD READING
 05/05/2022PASSED SENATE
 05/05/2022DELIVERED TO ASSEMBLY
 05/05/2022referred to ways and means
 05/10/2022substituted for a9424
 05/10/2022ordered to third reading cal.629
 05/17/2022passed assembly
 05/17/2022returned to senate
 06/22/2022DELIVERED TO GOVERNOR
 06/28/2022SIGNED CHAP.235
Go to top

A09424 Memo:

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.
Go to top

A09424 Text:



 
                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
Go to top