New York Senate Bill S04734 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 4734 2023-2024 Regular Sessions  IN SENATE February 14, 2023 ___________ Introduced by Sen. FELDER -- read twice and ordered printed, and when printed to be committed to the Committee on Cities 1 AN ACT authorizing the commissioner of finance of the city of New York to establish a property tax amnesty program; and providing for the repeal of such provisions upon expiration thereof The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Notwithstanding any provision of law to the contrary, the 2 commissioner of finance of the city of New York shall establish an 3 amnesty program for any property owner who has a delinquent property tax 4 balance of more than $1,000 for more than one year. Such amnesty program 5 shall last for a period of 4 months and shall: 6 1. Forgive 100 percent of the interest on such delinquent property tax 7 balance, if 100 percent of the principal bill is paid; 8 2. Forgive 75 percent of the interest on such delinquent property tax 9 balance, if 50 percent of the principal bill is paid; and 10 3. Forgive 50 percent of the interest on such delinquent property tax 11 balance, if 25 percent of the principal bill is paid. 12 Any property owner with a delinquent property tax balance of less than 13 $1,000 shall be eligible for forgiveness of 100 percent of the interest 14 on such delinquent property tax balance if 100 percent of the principal 15 bill is paid. Any property owner with a remaining delinquent property 16 tax balance after participation in the program shall enter into a 17 payment agreement with the commissioner of finance. 18 § 2. This act shall take effect immediately and shall expire and be 19 deemed repealed one year after such date. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08923-01-3