NY S06949

Amends section 485-d of the real property tax law to expand tax exemptions for water-works corporations beyond cities with populations of one million or more.

Allows private water-works corporations subject to public service law to qualify for whole or partial property tax exemptions if their local legislative body adopts a local law providing the exemption.

Extends exemption eligibility to property used exclusively for the sale, furnishing, and distribution of water for domestic, commercial, and public purposes in any city, county, town, village, or school district.

Takes effect immediately upon enactment.