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NY S07880

Bill

Official Source

Status

Passed

11/14/2016

Primary Sponsor

David Valesky

Click for details

Origin

Senate

2015-2016 General Assembly

AI Summary

  • Amends the not-for-profit corporation law to expand exemptions for land bank real property to include all special ad valorem levies and special assessments as defined in Real Property Tax Law section 102

  • Maintains existing exemptions for land bank real property, income, and operations from all state and local taxation

  • Continues exemption from clerk fees for filing, recording, indexing documents and furnishing transcripts related to land bank purposes

  • 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

SIGNED CHAP.441

11/14/2016

Committee Referrals

Ways and Means6/7/2016
Corporations, Authorities and Commissions5/19/2016

Full Bill Text

No bill text available