-  This bill is not active in this session.
 

A08383 Summary:

BILL NOA08383
 
SAME ASSAME AS S06497-A
 
SPONSORQuart
 
COSPNSRCarroll, Seawright, Gottfried, Dinowitz, Malliotakis, Rosenthal L
 
MLTSPNSR
 
Amd 467-a, RPT L
 
Relates to extending certain provisions relating to a partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having a population of one million or more.
Go to top    

A08383 Actions:

BILL NOA08383
 
06/15/2019referred to real property taxation
06/17/2019reported referred to ways and means
06/18/2019reported referred to rules
06/18/2019reported
06/18/2019rules report cal.574
06/18/2019ordered to third reading rules cal.574
06/20/2019substituted by s6497a
 S06497 AMEND=A KAVANAGH
 06/14/2019REFERRED TO RULES
 06/15/2019AMEND (T) AND RECOMMIT TO RULES
 06/15/2019PRINT NUMBER 6497A
 06/18/2019ORDERED TO THIRD READING CAL.1645
 06/18/2019PASSED SENATE
 06/18/2019DELIVERED TO ASSEMBLY
 06/19/2019referred to ways and means
 06/20/2019substituted for a8383
 06/20/2019ordered to third reading rules cal.574
 06/20/2019passed assembly
 06/20/2019returned to senate
 06/28/2019DELIVERED TO GOVERNOR
 07/03/2019SIGNED CHAP.90
Go to top

A08383 Floor Votes:

There are no votes for this bill in this legislative session.
Go to top

A08383 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A8383
 
SPONSOR: Quart
  TITLE OF BILL: An act to amend the real property tax law, in relation to extending certain provisions relating to a partial tax abatement for residential real property held in the cooperative or condominium form of ownership in a city having a population of one million or more   PURPOSE: To extend for two years a real property tax abatement program for coop- erative and condominium units in cities of one million or more.   SUMMARY OF PROVISIONS: Section one amends paragraph (a) and (b) of subdivision 2 of section 467-a of the real property tax law to extend for two years through the New York City fiscal year that begins in 2020, a partial real property tax abatement for cooperative and condominium units. Section two amends paragraph (d-1, (d-2), (d-3), and (d-4)of subdivision 2 of section 467-a of the real property tax law to extend for two years through the City fiscal year that begins in 2020, the current 28.1% partial property tax abatement for cooperative and condominium units assessed at $50,000 or less; the current 25.2% partial property tax abatement for cooperative and condominium units assessed at more than $50,000, but less than or equal to $55,000; the current 22.5% partial property tax abatement for cooperative and condominium units assessed at more than $55,000, but less than or equal to $60,000; the current 17.5% partial property tax abatement for cooperative and condominium units assessed at more than $60,000. Section three amends paragraph (a) of subdivision 3 of section 467-a to set deadlines for abatement applications by eligible unit owners. Section four sets forth the effective date.   JUSTIFICATION: The real property tax system in New York City burdens owners of co-op and condominium units with significantly larger tax bills than the owners of comparably valued one-, two-, and three-family homes. Recog- nizing this inequity, New York State authorized - and the City of New York implemented - a partial property tax abatement program for co-op and condo owners in 1996, which was last extended in 2015. Extending the current abatement program will continue the current level of relief for hundreds of thousands of New York City co-op and condo owners.   LEGISLATIVE HISTORY: New bill. Similar legislation has been adopted since 1996.   FISCAL IMPLICATIONS: None to the state.   EFFECTIVE DATE: This act shall take effect immediately.
Go to top