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NY S04156

Bill

Official Source

Status

Introduced

2/3/2017

Primary Sponsor

Carl Marcellino

Click for details

Origin

Senate

2017-2018 General Assembly

AI Summary

  • Adds new section 561 to the Real Property Tax Law governing payments in lieu of taxes (PILOT) agreements entered into on or after the bill's effective date
  • Requires that when a property making PILOT payments has its assessment challenged through the grievance process, any resulting reduction in payments to school districts cannot take effect until the following taxable status year
  • Applies the delayed effective date provision only to PILOT agreements executed after this law takes effect
  • Takes effect 60 days after becoming law

Legislative Description

Relates to changes in assessment for businesses that make payments in lieu of taxes; establishes that any reduction in school taxes shall not take effect until the following taxable status year.

Last Action

COMMITTED TO RULES

6/20/2018

Committee Referrals

Rules6/20/2018
Local Government1/3/2018
Rules6/21/2017
Local Government2/3/2017

Full Bill Text

No bill text available