Bill > A08687

This bill extends the effectiveness of a previous law that allows the village of Plandome Manor to sell or use delinquent tax liens as loan collateral. Specifically, the bill amends an existing statute by changing the expiration date of the authorization from December 31, 2025 to December 31, 2028. A tax lien is a legal claim by a local government against a property whose owner has failed to pay property taxes, which can be sold to private parties as a way to recover unpaid tax revenue. By extending the authorization, the village will continue to have the flexibility to manage its delinquent tax liens through sale or using them as collateral for a loan for an additional three years. The bill takes effect immediately upon passage, which is typical for local government authorization bills designed to provide ongoing financial management options for municipalities.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A8687