S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         7527
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                     May 15, 2015
                                      ___________
       Introduced  by  M.  of  A.  MAGNARELLI  -- read once and referred to the
         Committee on Local Governments
       AN ACT to amend the not-for-profit corporation law, in relation  to  the
         acquisition of property by land banks
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraph (a) of section 1608 of the not-for-profit  corpo-
    2  ration  law,  as added by chapter 257 of the laws of 2011, is amended to
    3  read as follows:
    4    (a) The real property of a land bank and its income and operations are
    5  exempt from all taxation by the state of New York  and  by  any  of  its
    6  political  subdivisions.   NOTWITHSTANDING ANY OTHER GENERAL, SPECIAL OR
    7  LOCAL LAW RELATING TO FEES OF CLERKS, NO CLERK SHALL CHARGE OR COLLECT A
    8  FEE FOR FILING, RECORDING  OR  INDEXING  ANY  PAPER,  DOCUMENT,  MAP  OR
    9  PROCEEDING  FILED,  RECORDED  OR  INDEXED FOR A LAND BANK, OR AN OFFICER
   10  THEREOF ACTING IN AN OFFICIAL CAPACITY, NOR FOR FURNISHING A TRANSCRIPT,
   11  CERTIFICATION OR COPY OF ANY PAPER, DOCUMENT, MAP OR  PROCEEDING  TO  BE
   12  USED FOR LAND BANK PURPOSES.
   13    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10881-01-5