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NY A11544

Bill

Official Source

Status

Introduced

6/23/2010

Primary Sponsor

Donna Lupardo

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Origin

Assembly

2009-2010 General Assembly

AI Summary

  • Amends Real Property Tax Law Section 596 to clarify that leasing or conveying oil and gas rights on tax-exempt land does not automatically disqualify the land from its exemption status prior to oil or gas production.

  • Prohibits assessors from increasing property assessments based solely on a lease or conveyance of oil and gas rights without additional evidence of value, such as actual land sale prices.

  • Takes effect immediately upon enactment.

Legislative Description

Provides that the lease or conveyance of oil and gas rights shall not, without other evidence of value, such as actual land sale prices, constitute grounds for increasing assessments.

Last Action

referred to real property taxation

6/23/2010

Committee Referrals

Real Property Taxation6/23/2010

Full Bill Text

No bill text available