Bill > A05761

This bill authorizes the town of Blooming Grove to establish a community preservation fund and impose a real estate transfer tax of up to 0.75% on property transfers in the town. The revenues from the transfer tax would be deposited into the community preservation fund and used for purposes such as preserving open space, agricultural land, historic properties, and other community character features. The bill also establishes various provisions related to the administration and use of the fund, including the creation of an advisory board, the development of a community preservation project plan, and restrictions on the alienation of properties acquired with fund monies. The real estate transfer tax provisions would expire on December 31, 2041.

Budget and Finance, Government Affairs, Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2021/A5761