BILL NUMBER: S741
SPONSOR: WEBB
 
TITLE OF BILL:
An act to amend the real property tax law, in relation to the payment of
real property and school district taxes in installments; and to amend a
chapter of the laws of 2024 amending the real property tax law relating
to the payment of real property and school district taxes in install-
ments, as proposed in legislative bills numbers S. 3604-A and A.
7813-A, in relation to the effectiveness thereof
 
PURPOSE OF BILL:
This is a chapter amendment that makes changes to provisions of chapter
373 of the laws of 2024 to expand the applicability of the underlying
chapter to all taxing jurisdictions that offer installment payments and
to standardize the display of installment payment schedules on tax
bills.
 
SUMMARY OF SPECIFIC PROVISIONS:
Section 1 amends subparagraph (xv) of paragraph (a) of subdivision 1 of
section 922 of the real property tax law to include the following
language: "Notwithstanding any general, special or local law to the
contrary, if the taxes set forth in the statement are payable in
installments such statement shall clearly disclose the due dates for
payment of such installments without interest or penalties."
Section 2 amends subdivision 2 of section 974 of the real property tax
law and Section 3 amends subdivision 2 of section 1338 of the real prop-
erty tax law to replace the word "chapter" with "title" and includes the
following language: "In addition, such statement shall clearly disclose
the due dates for payment of such installments without interest and
penalties."
Section 4 amends the effective date of the underlying chapter from imme-
diately to 120 days after it shall have become a law.
Section 5 sets the effective date.
 
EXISTING LAW:
The underlying chapter places new requirements for disclosures on real
property and school district taxes bills. The existing law mandates
that, if a property owner elects to pay taxes in installments, the
statement of taxes must include the due dates for these payments without
interest or penalties. This applies to all relevant real property and
school district taxes where installment payments are an option.
 
JUSTIFICATION:
This legislation is a negotiated change to the underlying chapter to
ensure all taxing jurisdictions that offer installment payments are
captured in the law, and to reduce the administrative burden on local
governments in complying with the law.
 
LEGISLATIVE HISTORY:
This is a chapter amendment to Chapter 373 of the Laws of 2024.
S.3604-A passed the Senate in June 2024 and A.7813-A passed the Assembly
in May 2024.
 
FISCAL IMPLICATIONS:
None to the State.
 
LOCAL FISCAL IMPLICATIONS:
Minimal.
 
EFFECTIVE DATE:
Immediately and shall be deemed to have been in full force and effect on
and after September 27, 2024, provided however, that sections one, two,
and three of this act shall take effect 120 days after the underlying
chapter shall have become law.