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NY A03827
Bill
Status
1/27/2015
Primary Sponsor
Claudia Tenney
Click for details
AI Summary
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Amends Real Property Tax Law Section 452 to expand tax exemption eligibility for veterans organizations to include property occupied by tenants who are not themselves exempt entities
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Changes exemption requirement from "actually and exclusively used and occupied" to allowing property where entire net income is applied to carrying, maintenance, depreciation charges and support of charitable, educational, or veterans' programs
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Eliminates the requirement under current subdivision 2 that non-exempt occupants' rent payments cannot exceed carrying and maintenance charges, allowing veterans organizations to generate greater rental income from non-exempt tenants
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Removes provisions requiring municipal local laws to authorize exemption of portions of property used by non-exempt persons
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Takes effect immediately and is retroactively applied to April 1, 2014
Legislative Description
Extends the real property tax exemption for veterans organizations to include property so owned which is occupied by any person although not also entitled to exemption.
Last Action
held for consideration in veterans' affairs
5/17/2016