New York S 7922: Relates to limitations on interest on taxes imposed by cities with a population of one million or more

Bill Text

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S07922 Summary:

BILL NOS07922 

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SAME ASNo Same As

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SPONSORGOUNARDES

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COSPNSR

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MLTSPNSR

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Add §1244, Tax L

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Provides that no interest shall accrue on taxes imposed by a city with a population of one million or more unless a tax appeals tribunal shall have made a determination within one year from the date a petition is filed.

Go to top S07922 Actions:

BILL NOS07922 

&nbsp

05/14/2025REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

01/07/2026REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS

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Go to topS07922 Floor&nbspVotes:

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

Go to topS07922 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7922

 2025-2026 Regular Sessions

 IN SENATE

 May 14, 2025
 ___________

 Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when
 printed to be committed to the Committee on Investigations and Govern-
 ment Operations

 AN ACT to amend the tax law, in relation to limitations on interest on
 taxes imposed by cities with a population of one million or more

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

 1 Section 1. The tax law is amended by adding a new section 1244 to read
 2 as follows:
 3 § 1244. Limitations on interest; cities over one million. Unless a tax
 4 appeals tribunal shall have made a determination of the amount of any
 5 tax payable under section twelve hundred one of this article within one
 6 year from the date a petition is filed with such tax appeals tribunal,
 7 no interest shall accrue or be paid with respect to taxes imposed under
 8 the authority of section twelve hundred one of this article by such
 9 city.
 10 § 2. This act shall take effect immediately and shall apply to all
 11 petitions in which a determination of the tax appeals tribunal has not
 12 been issued.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD13039-01-5

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