STATE OF NEW YORK ________________________________________________________________________ 7271 2023-2024 Regular Sessions IN ASSEMBLY May 16, 2023 ___________ Introduced by M. of A. McDONALD -- read once and referred to the Commit- tee on Real Property Taxation AN ACT in relation to permitting the City of Troy to retroactively extend a real property tax exemption to T.R.I.P. Redevelopment Associ- ates The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Notwithstanding any other provision of law to the contrary, 2 the City of Troy is hereby authorized to enter into a retroactive 3 Payment-In-Lieu Of Tax Agreement ("PILOT Agreement") with T.R.I.P. 4 Redevelopment Associates, a New York limited partnership and redevelop- 5 ment company, granting an exemption from real property taxes pursuant 6 to section 125 of the private housing finance law for the 2021 and 2022 7 assessment rolls, for the parcels located in the City of Troy, as set 8 forth in Schedule "A" to the PILOT Agreement and more particularly iden- 9 tified below: 10 CURRENT ADDRESS SECTION-BLOCK-LOT NUMBER 11 55 Middleburgh St. 90.79-4-2 12 57-59 Middleburgh St. 90.79-4-3 13 71 Middleburgh St. 90.79-5-2 14 73 Middleburgh St. 90.79-5-3 15 77 Middleburgh St. 90.79-5-5 16 79 Middleburgh St. 90.79-5-6 17 81 Middleburgh St. 90.79-5-7 18 438 Eighth St. 90.79-4-42 19 462 Eighth St. 90.79-4-50 20 516 Eighth St. 90.79-4-58 21 518 Eighth St. 90.79-4-59 22 520 Eighth St. 90.79-4-60 23 284 Ninth St. 101.23-6-39 EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD11303-01-3A. 7271 2 1 341 Ninth St. 90.79-4-25 2 345 Ninth St. 90.79-4-23 3 380 Ninth St. 90.79-5-62 4 382 Ninth St. 90.79-5-63 5 377 Ninth St. 101.23-6-4 6 457 Tenth St. 90.79-5-12 7 463 Tenth St. 90.79-5-10 8 The PILOT Agreement, and the exemption conferred thereby, shall be 9 effective as if the PILOT Agreement had been fully executed and approved 10 by the City Council of the City of Troy on or before the taxable status 11 dates established for the applicable rolls. Upon approval by the City 12 Council of the City of Troy and execution by all parties, the assessor 13 of the City of Troy may grant exemption from all taxation and make 14 appropriate corrections to the applicable rolls. Upon the granting of 15 exemption and such organization therefore shall have paid any tax with 16 respect to the applicable rolls, the governing body or tax department 17 may, in its sole discretion, provide for the refund of those taxes paid 18 and cancel any taxes, fines, penalties, interest, or tax liens remaining 19 unpaid. 20 § 2. This act shall take effect immediately.