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NY S02084

Bill

Official Source

Status

Introduced

1/19/2021

Primary Sponsor

Daphne Jordan

Click for details

Origin

Senate

2021-2022 General Assembly

AI Summary

  • Amends Real Property Tax Law Section 1112 to establish different redemption orders for tax liens based on property type
  • Non-farm property liens must be redeemed in reverse chronological order (most recent lien first, earliest lien last)
  • Farm property liens must be redeemed in chronological order (earliest lien first, most recent lien last)
  • Requires receipts issued for partial lien redemptions to include a warning statement that the property remains subject to outstanding liens and continued non-payment may result in loss of property
  • Takes effect immediately and applies to all lien redemptions occurring on or after the effective date

Legislative Description

Requires multiple liens on farm property to be paid in chronological order, with the earliest lien being paid off first and the most recent being paid last.

Last Action

REPORTED AND COMMITTED TO FINANCE

2/14/2022

Committee Referrals

Finance2/14/2022
Local Government1/5/2022
Finance5/19/2021
Agriculture4/26/2021
Local Government1/19/2021

Full Bill Text

No bill text available