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NY A05604

Bill

Official Source

Status

Introduced

2/22/2021

Primary Sponsor

Michael Fitzpatrick

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Origin

Assembly

2021-2022 General Assembly

AI Summary

  • Amends Real Property Tax Law Section 489 to expand tax exemption eligibility for alterations and improvements to multiple dwellings
  • Extends exemption authorization to cities where the "multiple residence law" is applicable, in addition to cities where the "multiple dwelling law" applies
  • Authorizes local legislative bodies or governing agencies to adopt laws exempting increases in assessed valuation resulting from these alterations and improvements through January 1, 2021
  • Takes effect immediately upon enactment

Legislative Description

Relates to exemption from taxation of alterations and improvements to multiple dwellings by expanding certain provisions to include cities where the multiple residence law is applicable.

Last Action

referred to real property taxation

1/5/2022

Committee Referrals

Real Property Taxation2/22/2021

Full Bill Text

No bill text available