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NY A09014

Bill

Official Source

Status

Introduced

2/2/2024

Primary Sponsor

Edward Ra

Click for details

Origin

Assembly

2023-2024 General Assembly

AI Summary

  • Amends the definition of "special franchise" property under real property tax law to exclude water system property owned by private water-works corporations in counties with a population of one million or more that are special assessing units

  • Requires any tax relief realized by a private water-works corporation from this exemption to be used to reduce current water rates and offset future water rate increases

  • Takes effect immediately upon enactment

Legislative Description

Exempts water system property owned by a private water-works corporation located in counties with a population of one million or more that are special assessing units from being included as special franchise property.

Last Action

print number 9014a

5/31/2024

Committee Referrals

Real Property Taxation2/2/2024

Full Bill Text

No bill text available