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NY S01626
Bill
Status
1/13/2023
Primary Sponsor
Leroy Comrie
Click for details
AI Summary
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Caps the interest rate on unpaid real property taxes at three percent per annum for taxes due between March 7, 2020 and June 30, 2021, regardless of any other state, special, or local law.
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Applies the three percent cap during the COVID-19 pandemic period to help homeowners and businesses unable to pay property taxes on prescribed due dates.
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Amends Section 924-a of the real property tax law by adding a new subdivision 4 to establish the interest rate limitation.
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Preserves all other provisions of law relating to the imposition, collection, and determination of interest rates outside this specified period.
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Takes effect immediately upon enactment.
Legislative Description
Sets a state-wide three percent cap on penalties for unpaid real property tax due and payable or remaining unpaid during the period from March 7, 2020 to June 30, 2021.
Last Action
REFERRED TO LOCAL GOVERNMENT
1/3/2024