NY A00328

Petitioners in real property assessment review proceedings must include either a statement that the property is not income producing or an income and expense statement for each tax year involved in the proceeding.

Establishes staggered submission deadlines for appraisal reports, with petitioner's reports due within 120 days of demand and respondent's reports due 90 days after the petitioner's submission.

Court must notify the respondent when petitioner's appraisal reports are received and must simultaneously distribute all appraisal reports to all parties upon receipt.

Creates procedures allowing either party to demand appraisal reports after a proceeding has been pending for at least two years, or allowing the court to order submission at any time.

Act takes effect 120 days after becoming law, with regulations authorized to be implemented by that date.