NY S06967

Amends section 1608 of the not-for-profit corporation law to clarify that land bank real property tax exempt status becomes effective on the date of title transfer to the land bank, rather than on the applicable taxable status date.

Land bank real property remains exempt from state and local taxation, special ad valorem levies, special assessments, sewer rent, and user charges.

Exemption does not apply to real property where the land bank receives rent, fees, or other charges for use of the property.

Prohibits clerks from charging fees for filing, recording, indexing, or providing copies of documents related to land bank operations.

Takes effect immediately upon enactment.