N.Y.C. Admin. Code § L.L. 1986/071: L.L. 1986/071

Enactment date: 12/8/1986

Int. No. 715

By Council Member DeMarco (by request of the Mayor); also Council Member Messinger

A Local Law to amend the administrative code of the city of New York, in relation to extending the coverage and application of the real property transfer tax imposed by title II of chapter forty-six of such code to include transfers of economic interests in real property

Be it enacted by the Council as follows:

Section one. Declaration of legislative findings. On October second, nineteen hundred eighty-six, a judgment was entered by a justice of the New York state supreme court which invalidated local law number twenty-four for the year nineteen hundred eighty-six on the ground that the requirements for notice of public hearing prior to mayoral approval of the measure set forth in former section 38b-1.0 of the administrative code of the city of New York were not met. Since the hearing held in connection with mayoral approval of local law number twenty-three for the year nineteen hundred eighty-six, relating to extending the coverage and application of the real property transfer tax, was similarly noticed, questions may be raised as to the validity of local law number twenty-three for such year. While the corporation counsel advises that the judgment invalidating local law twenty-four for such year is before the appellate courts and that, in his view, the mayor properly approved local law number twenty-four for such year and the other local laws which were before the mayor at that time, the council has determined that to exercise utmost caution in order to protect the fiscal health of the city it is prudent at this time to re-enact the provisions of local law number twenty-three for such year so as to remove any uncertainty that may exist as to its status. In addition, when the text of the provisions of local law number twenty-three for such year was juxtaposed into the recodified administrative code of the city of New York in accordance with section fourteen of chapter nine hundred seven of the laws of nineteen hundred eighty-five, several technical, non-substantive errors resulted which are corrected by the repeal and re-enactment of the provisions of such local law number twenty-three contained herein.

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[Consolidated provisions are not included in this Appendix A]

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§ 10. To the extent that this local law has application prior to September first, nineteen hundred eighty-six, the references to sections 11-2101, 11-2102, 11-2103, 11-2104, 11-2105, 11-2106, 11-2115 and 11-2116 of the administrative code of the city of New York shall be deemed references to former sections II46-1.0, II46-2.0, II46-3.0, II46-4.0, II46-5.0, II46-6.0, II46-15.0 and II46-16.0, respectively, of such code repealed by chapter nine hundred seven of the laws of nineteen hundred eighty-five.

§ 11. Notwithstanding the repeal of sections 11-2101, 11-2102, 11-2103, 11-2104, 11-2105, 11-2106, 11-2115 and 11-2116 of the administrative code of the city of New York by sections two through nine of this local law, all provisions of such sections and any regulations adopted thereunder, in respect to assessment, payment, determination, and collection of taxes imposed thereunder, the filing and preservation of returns in connection therewith, the secrecy of returns and the disposition of revenues shall continue in effect with respect to all taxes accrued up to the effective date of this local law.

§ 12. If any clause, sentence, paragraph, section or part of this local law shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation to the clause, sentence, paragraph, section, or part thereof directly involved in the controversy in which such judgment shall have been rendered.

§ 13. This local law shall take effect immediately, provided, however, that to the extent the provisions of this local law re-enact the amendments to the administrative code of the city of New York made by local law number twenty-three for the year nineteen hundred eighty-six, such provisions shall be retroactive to and deemed in full force and effect as of July eighth, nineteen hundred eighty-six and shall apply to conveyances or transfers made on or after July thirteenth, nineteen hundred eighty-six, and further provided, however, that such provisions shall not apply to any conveyance or transfer made pursuant to a written contract entered into prior to July thirty first, nineteen hundred eighty-one.