NY S00458

Removes the real property tax exemption for properties owned or controlled by industrial development agencies (IDAs) specifically for fire districts, fire protection districts, and ambulance districts

Applies only to counties with populations between 1,490,000 and 1,510,000 according to the latest federal decennial census (effectively targeting Suffolk County)

Takes effect immediately and applies to assessment rolls prepared on or after the effective date

Exempts existing IDA projects that already received authorization through bond issuance, lease execution, or inducement/bond resolutions prior to the law's enactment

Amends Section 412-a of the Real Property Tax Law, which currently provides full tax exemptions for IDA properties