New York A 9353: Relates to the determination of the existence and amount of surplus

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 
A09353 Summary:

BILL NOA09353 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORMagnarelli

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §1196, RPT L

&nbsp

Removes provisions of law where a tax district has sold or conveyed a tax-foreclosed property to a land bank, a housing development agency or another public entity and the sale or conveyance was not the result or a public sale.

Go to top A09353 Actions:

BILL NOA09353 

&nbsp

12/19/2025referred to real property taxation

01/07/2026referred to real property taxation

Go to topA09353 Committee&nbspVotes:

Go to topA09353 Floor&nbspVotes:

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

Go to topA09353 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9353

 2025-2026 Regular Sessions

 IN ASSEMBLY

 December 19, 2025
 ___________

 Introduced by M. of A. MAGNARELLI -- read once and referred to the
 Committee on Real Property Taxation

 AN ACT to amend the real property tax law, in relation to the determi-
 nation of the amount of surplus

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

 1 Section 1. Section 1196 of the real property tax law, as added by
 2 section 15 of part BB of chapter 55 of the laws of 2024, is amended to
 3 read as follows:
 4 § 1196. Determination of existence and amount of surplus. 1. (a) With-
 5 in forty-five days after the sale of tax-foreclosed property, the
 6 enforcing officer shall determine whether a surplus is attributable to
 7 such sale and if so, the amount thereof. [Subject to the provisions of
 8 subdivision two of this section, such] Such determination shall be made
 9 by ascertaining the sum of the total amount of taxes due plus interest,
 10 penalties and other charges as defined by section eleven hundred two of
 11 this article, and subtracting such sum from whichever of the following
 12 is applicable:
 13 (i) where the sale was a public sale, the amount to be so subtracted
 14 shall be the amount paid for the property;
 15 (ii) where the sale was not a public sale, the amount to be so
 16 subtracted shall be either (A) the full value of the property as shown
 17 on the most recent tax roll, (B) if available, an appraisal prepared by
 18 a licensed New York state appraiser that establishes the full value of
 19 the property as of the date of the transfer of title, or (C) the full
 20 value of the property as of the date of the transfer of title as deter-
 21 mined by such other valuation method as the enforcing officer reasonably
 22 determines will result in just compensation to the former owner and
 23 other parties whose interests were extinguished by the foreclosure.
 24 (b) For purposes of this subdivision, where the enforcing officer has
 25 been notified that the tax district intends to retain tax-foreclosed

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14179-01-5

 A. 9353 2

 1 property for a public use, the property shall be deemed to have been
 2 sold on the date that the enforcing officer was so notified, and the
 3 enforcing officer shall determine the existence and amount of a surplus
 4 relative to such property in the manner provided by subparagraph (ii) of
 5 paragraph (a) of this subdivision.
 6 [2. Notwithstanding the provisions of subdivision one of this section,
 7 when a tax district has sold or conveyed tax-foreclosed property to a
 8 land bank, a housing development agency or another public entity, and
 9 such sale or conveyance was not the result of a public sale, or when a
 10 tax district has determined to retain tax-foreclosed property for a
 11 public use, no surplus shall be payable if all of the following condi-
 12 tions are satisfied:
 13 (a) prior to such sale, conveyance or determination, the property had
 14 been offered for sale at two separate public auctions conducted at least
 15 three months apart from one another,
 16 (b) both auctions had been conducted in full compliance with the
 17 provisions of section two hundred thirty-one of the real property
 18 actions and proceedings law,
 19 (c) the minimum acceptable bid at each auction had been set at an
 20 amount no greater than the sum of the taxes due plus interest, penalties
 21 and other charges