NY A04923

Amends Section 485-d of the Real Property Tax Law to expand tax exemption eligibility for water-works corporations beyond cities with populations of one million or more.

Allows private water-works corporations subject to Public Service Law regulations to claim whole or partial property tax exemptions if used exclusively for sale, furnishing, and distribution of water for domestic, commercial, and public purposes.

Extends exemption eligibility to private water-works corporations operating in cities, counties, towns, villages, or school districts (previously limited to large cities only).

Requires local legislative bodies to adopt a local law to grant the exemption in their respective jurisdictions.

Takes effect immediately upon enactment.