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NY A10375

Bill

Official Source

Status

Introduced

5/25/2016

Primary Sponsor

William Magnarelli

Click for details

Origin

Assembly

2015-2016 General Assembly

AI Summary

  • Amends the not-for-profit corporation law to exempt land bank real property from all special ad valorem levies and special assessments as defined in the real property tax law
  • Maintains existing exemptions for land bank real property, income, and operations from all state and local taxation
  • Preserves existing exemptions preventing clerks from charging fees for filing, recording, indexing, or providing transcripts related to land bank documents and proceedings
  • Takes effect immediately upon enactment

Legislative Description

Exempts the real property of a land bank from all special ad valorem levies and special assessments as defined in section one hundred two of the real property tax law.

Last Action

substituted by s7880

6/14/2016

Committee Referrals

Rules6/6/2016
Ways and Means6/2/2016
Local Governments5/25/2016

Full Bill Text

No bill text available