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NY A01074
Bill
Status
1/13/2023
Primary Sponsor
Kenneth Zebrowski
Click for details
AI Summary
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Petitioner must include with petition either a statement that property is not income-producing or an income and expense statement for each tax year in the proceeding.
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Court sets staggered submission deadlines: petitioner's appraisal reports due within 120 days of demand, respondent's appraisal reports due 90 days after petitioner's submission.
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Court notifies respondent when petitioner's appraisal reports are received and simultaneously distributes all appraisal reports to both parties upon receipt.
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Either party may demand appraisal submission if proceeding has been pending at least two years, or court may order appraisal submission at any time.
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Act takes effect 120 days after becoming law.
Legislative Description
Requires the disclosure of income and expense statements upon a petition for an article 7 proceeding; imposes staggered dates for submissions of appraisal reports.
Last Action
enacting clause stricken
7/15/2024