NY A04481

Imposes a civil penalty of up to $500 per violation on cooperative apartment corporations that fail to properly credit the STAR (School Tax Relief) exemption to tenant-stockholders, enforceable by county attorneys or city corporation counsel.

Allows tenant-stockholders to withhold cooperative apartment corporation payments beginning 60 days after the corporation receives a tax bill if the STAR credit or payment is not properly credited, until the amounts are fully recouped.

Exempts penalties and withholding remedies if the failure to credit the STAR exemption is attributable to an error by an assessor or taxing authority.

Stays any penalty action if the cooperative apartment corporation contests the tax bill through an Article 78 proceeding or seeks declaratory or injunctive relief within 60 days of receiving the tax bill, with dismissal of the penalty action if the corporation prevails.

Takes effect immediately and applies to STAR exemption administration beginning with the 2023-2024 school year.