New York S 4442: Relates to the taxation of property owned by a cooperative corporation

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
S04442 Summary:

BILL NOS04442 

&nbsp

SAME ASSAME AS A03124

&nbsp

SPONSORSTEC

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §581, RPT L; amd §339-y, RP L

&nbsp

Relates to the taxation of property owned by a cooperative corporation in the towns of Bolton, Horicon, Thurman, Queensbury, Lake George, and Warrensburg.

Go to top S04442 Actions:

BILL NOS04442 

&nbsp

02/05/2025REFERRED TO LOCAL GOVERNMENT

01/07/2026REFERRED TO LOCAL GOVERNMENT

Go to topS04442 Committee&nbspVotes:

Go to topS04442 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS04442 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4442

 2025-2026 Regular Sessions

 IN SENATE

 February 5, 2025
 ___________

 Introduced by Sen. STEC -- read twice and ordered printed, and when
 printed to be committed to the Committee on Local Government

 AN ACT to amend the real property tax law and the real property law, in
 relation to the taxation of property owned by a cooperative corpo-
 ration

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivision 1 of section 581 of the real property tax law
 2 is amended by adding a new paragraph (e) to read as follows:
 3 (e) The provisions of paragraph (a) of this subdivision shall not
 4 apply to real property owned or leased by a cooperative corporation or
 5 on a condominium basis in the towns of Bolton, Horicon, Thurman, Queens-
 6 bury, Lake George, and Warrensburg, located in Warren county, which have
 7 adopted, prior to the taxable status date of the assessment roll upon
 8 which their taxes will be levied, local laws providing that the
 9 provisions of paragraph (a) of this subdivision shall not apply to such
 10 real property within such towns; provided, however, the provisions of
 11 this paragraph shall not apply to real property owned or leased by a
 12 cooperative corporation or on a condominium basis that had been previ-
 13 ously subject to the provisions of paragraph (a) of this subdivision
 14 prior to January first, two thousand twenty-six; provided further,
 15 however, the provisions of this paragraph shall not apply to real prop-
 16 erty owned or leased by a cooperative corporation or on a condominium
 17 basis that is participating in an affordable housing tax credit program
 18 or has a regulatory agreement with a federal, state, or local agency
 19 related to affordable housing requirements.
 20 § 2. Subdivision 1 of section 339-y of the real property law is
 21 amended by adding a new paragraph (h) to read as follows:
 22 (h) The provisions of paragraph (b) of this subdivision shall not
 23 apply to real property owned or leased by a cooperative corporation or
 24 on a condominium basis in the towns of Bolton, Horicon, Thurman, Queens-

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04893-01-5

 S. 4442 2

 1 bury, Lake George, and Warrensburg, located in Warren county, which have
 2 adopted, prior to the taxable status date of the assessment roll upon
 3 which their taxes will be levied, local laws providing that the
 4 provisions of paragraph (b) of this subdivision shall not apply to such
 5 real property within such towns; provided, however, the provisions of
 6 this paragraph shall not apply to real property owned or leased by a
 7 cooperative corporation or on a condominium basis that had been previ-
 8 ously subject to the provisions of paragraph (b) of this subdivision
 9 prior to January first, two thousand twenty-six; provided further,
 10 however, the provisions of this paragraph shall not apply to real prop-
 11 erty owned or leased by a cooperative corporation or on a condominium
 12 basis that is participating in an affordable housing tax credit program
 13 or has a regulatory agreement with a federal, state, or local agency
 14 related to affordable housing requirements.
 15 § 3. This act shall take effect immediately and shall apply to assess-
 16 ment rolls prepared on the basis of taxable status dates occurring on or
 17 after January 1, 2026.

Go to top 

• 

 Sitemap 

 Request Information 

 Directions and Maps