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NY S08446
Bill
Status
Introduced
7/19/2010
Primary Sponsor
Carl Kruger
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AI Summary
- Amends Tax Law Section 1405(b)(6) to clarify the exemption for conveyances involving cooperative housing corporations
- Expands exemption to include conveyance of shares of a cooperative housing corporation to participating shareholders as part of a voluntary dissolution under the Private Housing Finance Law
- Applies exemption only when the dissolution effects merely a change in identity or form of ownership without changing beneficial ownership
- Takes effect immediately and applies retroactively to applicable conveyances occurring on or before the enactment date
Legislative Description
Clarifies the exemption for cooperative housing corporations where there is no change in beneficial ownership.
Last Action
REFERRED TO RULES
7/19/2010
Committee Referrals
Rules7/19/2010
Full Bill Text
No bill text available