NY S06193

Authorizes the assessor of the town of Islip, Suffolk County, to accept a retroactive real property tax exemption application from BB/S Facilities Management Corporation for the 2010-2011 tax year for property located at 145 Sycamore Avenue, Islandia, New York (Lot 3, Block 1, Section 17, District 504).

Requires the application to be reviewed as if submitted by the taxable status date, even though it is filed late, and may be granted for the 2010-2011 tax year or applicable portion thereof.

Allows the town assessor, with approval from the Islip Town Board, to grant the exemption if BB/S Facilities Management Corporation acquired title between the taxable status dates and would otherwise qualify for exemption under section 420-a of the real property tax law.

Permits the applicable governing body or tax department to refund and cancel any taxes, fines, penalties, liens, or interest that were paid or remain unpaid on the subject property once exemption is granted.

Takes effect immediately upon enactment.