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