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NY A02345
Bill
Status
1/25/2023
Primary Sponsor
Daniel O'Donnell
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AI Summary
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Amends Real Property Tax Law Section 420-a to add a provision allowing local governing bodies to deny tax exemptions for not-for-profit properties leased for commercial for-profit purposes.
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Permits a local governing body, after conducting a public hearing, to subject an entire parcel to taxation if non-exempt use will have a significant effect on existing patterns of population concentration, distribution, growth, or neighborhood character.
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Maintains existing exemptions for properties leased to other tax-exempt organizations or used for civil defense, educational purposes, or START-UP NY program activities.
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Requires that any moneys paid for exempt uses continue to not exceed the carrying, maintenance, and depreciation charges of the property.
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Takes effect immediately upon enactment.
Legislative Description
Relates to not-for-profit lease of real property; provides that when real property not used exclusively to carry out one or more exempt purposes is leased or otherwise used for commercial for-profit purposes, such property shall be subject to taxation and no portion shall be exempt.
Last Action
referred to real property taxation
1/3/2024