Bill > S00060

This bill directs the State Board of Real Property Tax Services to conduct a study on "real property tax saturation," which refers to the impact of high percentages of tax-exempt real property within a municipality on the overall economic viability of the municipality. The study will examine various factors such as the percentage of tax-exempt real property, housing market, business growth, job creation, population changes, and the number of tax-exempt not-for-profit organizations in the counties with the highest percentages of tax-exempt real property. The bill also requires the Board to make recommendations for legislative action to address the issues identified in the study and deliver a report to the Governor, Senate President, and Assembly Speaker within one year of the bill's effective date. The bill will expire two years after the effective date or upon delivery of the report, whichever comes first.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2023/S60