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Bill > A03533


NY A03533

NY A03533
Authorizes cities and towns, except a city with a population of one million or more, to establish community preservation funds; authorizes such cities and towns to impose a real estate transfer tax with revenues to be deposited in such funds; makes related provisions.


summary

Introduced
01/28/2025
In Committee
01/28/2025
Crossed Over
Passed
Dead

Introduced Session

2025-2026 General Assembly

Bill Summary

AN ACT to amend the general municipal law, in relation to authorizing cities and towns, except a city with a population of one million or more, to establish community preservation funds; and to amend the tax law, in relation to authorizing cities and towns, except a city with a population of one million or more, to impose a real estate transfer tax with revenues therefrom to be deposited in such funds

AI Summary

This bill authorizes cities and towns in New York (except for cities with a population of one million or more) to establish community preservation funds and impose a real estate transfer tax to support those funds. The bill creates a comprehensive framework allowing local governments to generate revenue for preserving community character, which includes protecting open spaces, agricultural lands, wildlife habitats, water resources, historic properties, and other environmentally or culturally significant areas. Cities and towns can impose a tax of up to 2% on real estate transfers, with revenues dedicated exclusively to the community preservation fund. The bill requires each municipality to create an advisory board, develop a detailed preservation plan, and undergo a mandatory referendum to implement the tax. Key provisions include establishing strict guidelines for land acquisition, management, and stewardship, ensuring transparency through annual independent audits, and allowing inter-municipal cooperation for regional preservation efforts. The bill aims to provide local governments with a flexible tool to protect and enhance their unique community characteristics while generating sustainable funding for conservation and preservation projects.

Committee Categories

Government Affairs

Sponsors (12)

Last Action

referred to local governments (on 01/28/2025)

bill text


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