New York S 5603: Relates to real property tax exemptions for preservation of forest lands and state assistance to municipalities

Bill Text

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S05603 Summary:

BILL NOS05603 

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SAME ASSAME AS A07550

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SPONSORMAY

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COSPNSR

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MLTSPNSR

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Amd §§480 & 480-a, RPT L

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Authorizes state assistance to municipalities containing exempt privately owned forest lands; expands categories of lands eligible for certain property tax exemptions as forest lands; authorizes tax exemptions for certain conservation easement tracts; provides for violations of certain provisions relating to filing for tax exemptions of forest lands.

Go to top S05603 Actions:

BILL NOS05603 

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02/25/2025REFERRED TO LOCAL GOVERNMENT

01/07/2026REFERRED TO LOCAL GOVERNMENT

05/19/2026REPORTED AND COMMITTED TO FINANCE

Go to topS05603 Committee&nbspVotes:

Go to topS05603 Floor&nbspVotes:

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

Go to topS05603 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5603

 2025-2026 Regular Sessions

 IN SENATE

 February 25, 2025
 ___________

 Introduced by Sen. MAY -- 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, in relation real property tax
 exemptions for preservation of forest lands and state assistance to
 municipalities

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

 1 Section 1. Section 480 of the real property tax law is amended by
 2 adding a new subdivision 10 to read as follows:
 3 10. (a) The chief executive officer of a municipal corporation in
 4 which there are privately owned forest lands which are assessed in
 5 accordance with the provisions of subdivision three of this section may
 6 make application for state assistance as provided in this subdivision.
 7 (b) Application for state assistance shall be made on a form
 8 prescribed by the state board and shall contain such information and
 9 documentation as may be required by the state board. The state board may
 10 promulgate rules and regulations necessary to implement this subdivi-
 11 sion.
 12 (c) Upon receipt of an application for state assistance, the state
 13 board shall value the private forest lands upon which the application is
 14 based and the cumulative value of such lands shall be equalized by
 15 applying the appropriate state equalization rate or special equalization
 16 rate established in the rules of the state board. If the cumulative
 17 value determined and equalized exceeds the taxable assessed valuation on
 18 the preceding assessment role of the private forest lands upon which the
 19 application is based, the state board shall compute the amount of state
 20 assistance payable to or for the benefit of the municipal corporation
 21 submitting the application by applying to the amount of the excess the
 22 appropriate tax rate of the municipal corporation, and such amount shall
 23 be paid on audit and warrant of the comptroller out of funds collected
 24 pursuant to article thirty-one of the tax law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09847-01-5

 S. 5603 2

 1 § 2. Section 480-a of the real property tax law, as amended by chapter
 2 428 of the laws of 1987, paragraph (a) of subdivision 1 as amended by
 3 chapter 396 of the laws of 2008, subparagraph (ii) of paragraph (a) of
 4 subdivision 3 as further amended by subdivision (b) of section 1 of part
 5 W of chapter 56 of the laws of 2010, subdivision 4 as amended by chapter
 6 316 of the laws of 1992 and paragraph (b) of subdivision 4 as further
 7 amended by subdivision (b) of section 1 of part W of chapter 56 of the
 8 laws of 2010, paragraphs (a) and (c) of subdivision 4 as amended by
 9 chapter 440 of the laws of 1993 and paragraph (c) of subdivision 4 as
 10 further amended by subdivision (b) of section 1 of part W of chapter 56
 11 of the laws of 2010, paragraph (e) of subdivision 7 as amended by chap-
 12 ter 590 of the laws of 1994, and paragraph (i) of subdivision 7 as added
 13 by chapter 2 of the laws of 1997, is amended to read as follows:
 14 § 480-a. Taxation of forest land. 1. As used in this section:
 15 (a) "Approved management plan" shall mean:
 16 (i) a plan approved by the department for the management o