TITLE OF BILL:
An act to amend the real property tax law, in relation to giving the
New York city department of finance discretion to accept late filings
To provide the Department of Finance the authority to accept late
final applications for the Industrial and Commercial Abatement
SUMMARY OF PROVISIONS:
Section 1 amends subdivision (ii) of subparagraph (a) of paragraph (5)
of amends 489-ccccccc of the real property tax law to provide
Department of Finance with ability to accept late applications.
Section 2 sets forth the effective date.
Industrial and Commercial Abatement Program (ICAP) is a tax abatement
in a city with more than one million persons. New York City has used
this enabling statute to adopt a local law and has a successful ICAP
abatement program. A complex formula credits businesses property tax
bills during the years construction is done to improve their property.
The purpose of this tax abatement was to incentivize businesses to
expand. The program has been very popular and the program has met with
success. There is however a small correction that will increase the
number of businesses helped.
Under current law an applicant must file two applications to be
eligible for ICAP: 1) a preliminary application on or before the date
of the department of buildings issues the first permit for the site
and 2) a final application. The final application must. be filed with
DOF "no later than one year from the date of the issuance of the first
building permit for construction" or when no building permit is
required no later than one year from date of commencement of
construction. The Department of Finance has no ability under current
law to grant an abatement if an applicant files the final application
after one year if something holds up the construction process.
Unfortunately 85 businesses have been denied the abatement because
they were unable to complete construction within one year because a
city agency held up the construction, whether it be because they
issued a stop work order or work stopped while waiting for inspectors
to come to the property or for some other reason based upon a city
agency's action or inaction and beyond the applicant's control. This
legislation provides the Department of Finance with the ability to
accept applications and to ensure that the abatement program operates
This is a new bill.
None to the state.
This bill shall take effect immediately.
S T A T E O F N E W Y O R K
2015-2016 Regular Sessions
I N A S S E M B L Y
August 5, 2015
Introduced by M. of A. ROBINSON -- read once and referred to the Commit-
tee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to giving the New
York city department of finance discretion to accept late filings
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Subparagraph (ii) of paragraph (a) of subdivision 5 of
2 section 489-cccccc of the real property tax law, as added by chapter 119
3 of the laws of 2008, is amended to read as follows:
4 (ii) Final application. Applicants shall file a final application for
5 benefits no later than one year from the date of issuance of the first
6 building permit for construction work, or, where construction work does
7 not require a building permit, no later than one year from the date of
8 commencement of construction. THE DEPARTMENT OF FINANCE SHALL ACCEPT
9 APPLICATIONS RECEIVED AFTER ONE YEAR FROM THE DATE OF COMMENCEMENT OF
10 CONSTRUCTION AS TIMELY FILED IF IT FINDS NO HARM FROM THE APPLICANT'S
11 LATE FILING OR NO FAULT ON THE PART OF THE APPLICANT IN FAILING TO FILE
12 PRIOR TO THE EXPIRATION OF ONE YEAR.
13 S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.