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NY A07448

Bill

Official Source

Status

Introduced

5/10/2021

Primary Sponsor

Christopher Burdick

Click for details

Origin

Assembly

2021-2022 General Assembly

AI Summary

  • Reduces the late charge on overdue installment payments from 5 percent to one-half percent of the overdue payment amount
  • Allows municipalities to offer payment forbearance to residents experiencing financial hardship due to the COVID-19 pandemic
  • Forbearance becomes available upon filing a hardship declaration under part B of chapter 381 of the laws of 2020
  • Interest rates on delinquent taxes remain locked at the rate in effect when the payment agreement is signed
  • Act takes effect immediately and expires December 31, 2021

Legislative Description

Decreases the amount of the late charge of five percent to one-half percent for the overdue tax payment; authorizes a municipality to provide any resident the opportunity for the forbearance of certain delinquent taxes upon a hardship declaration.

Last Action

referred to real property taxation

1/5/2022

Committee Referrals

Real Property Taxation5/10/2021

Full Bill Text

No bill text available