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NY A00425
Bill
Status
Introduced
1/5/2011
Primary Sponsor
Clifford Crouch
Click for details
AI Summary
- Amends Real Property Tax Law by adding Section 532-a to establish state aid payments for towns where tax-exempt property exceeds 35 percent of total property value
- Distributes 50 percent of state payments to eligible towns proportionally based on each town's population relative to all eligible towns
- Distributes remaining 50 percent of state payments based on the value of tax-exempt property in each eligible town as a percentage of total tax-exempt property in all eligible towns
- Payments subject to budgetary appropriation by the state
- Takes effect immediately and applies to assessment rolls prepared on or after the date the law becomes effective
Legislative Description
Relates to state aid for certain cities adversely affected by a concentration of tax exempt property.
Last Action
referred to governmental operations
1/5/2011
Committee Referrals
Governmental Operations1/5/2011
Full Bill Text
No bill text available