New York Senate Bill S06067 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 6067 2025-2026 Regular Sessions  IN SENATE March 5, 2025 ___________ Introduced by Sen. PARKER -- read twice and ordered printed, and when printed to be committed to the Committee on Cities 1 AN ACT to authorize Top Community Development Corporation to file an application for a real property tax exemption 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 commissioner of the New York city department of finance is hereby 3 authorized to accept from Top Community Development Corporation an 4 application for exemption from real property taxes pursuant to section 5 420-a of the real property tax law for the 2019 assessment roll, for the 6 parcel located in the county of Kings at 1274 Utica Avenue otherwise 7 known as section Brooklyn, 03 block 4760 lot 12, 03 block 4761 lot 53, 8 03 block 4761 lot 58. If accepted, the application shall be reviewed as 9 if it had been received on or before the taxable status date established 10 for such roll. 11 If satisfied that the Top Community Development Corporation: (i) 12 acquired title to the property for which it seeks exemption subsequent 13 to the taxable status date established for such roll and prior to the 14 taxable status date for the next ensuing assessment roll and (ii) would 15 otherwise be entitled to such exemption if such entity had filed an 16 application for exemption by the appropriate taxable status date, the 17 commissioner of the New York city department of finance, upon approval 18 by the city council of the city of New York, may grant exemption from 19 all taxation beginning with the date of acquisition of the property by 20 such entity and make appropriate correction to the subject roll. If 21 exemption is granted and such entity therefore shall have paid any tax 22 with respect to the subject roll, the department of finance may, in its 23 sole discretion, provide for the refund of those taxes paid including 24 the amount of any taxes held in escrow pursuant to the sale of such 25 property and cancel taxes, fines, penalties or interest remaining 26 unpaid. 27 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10613-01-5