§ 980-A — Tax credits for contributions to certain funds

§ 980-a. Tax credits for contributions to certain funds. 1. (a) A\nmunicipal corporation that has established a fund pursuant to\nsubdivision forty-four of section sixteen hundred four of the education\nlaw, subdivision twelve-b of section seventeen hundred nine of the\neducation law, subdivision fifty-four of section twenty-five hundred\nninety-h of the education law, or section six-t or six-u of the general\nmunicipal law, may adopt a local law, or in the case of a school\ndistrict, a resolution, authorizing a tax credit to be provided pursuant\nto this section for contributions to such fund. For purposes of this\nsection, a municipal corporation that has established such a fund and\nauthorized such a credit shall be referred to as a "participating"\nmunicipal corporation.\n (b) On and after a date specified in the local law or resolution\nadopted by a participating municipal corporation pursuant to paragraph\n(a) of this subdivision, the owner or owners of real property shall be\nallowed a credit against the real property taxes of a participating\nmunicipal corporation that have been imposed upon such property. The\namount of such credit shall equal ninety-five percent, or such lesser\nallowable percentage credit as may have been established pursuant to\nparagraph (c) of this subdivision, of the amount contributed by one or\nmore of the owners of such property during the "associated credit year"\nas defined in this section, to any or all of the funds established by\nsuch municipal corporation, subject to the limit established pursuant to\nparagraph (c) of this subdivision, if any.\n (c) The participating municipal corporation may establish a limit upon\nthe amount or percentage of such credit to be allowed in any given\nfiscal year, in which case the amount of such credit shall not exceed\nany limit so established. Any such limit shall be adopted by local law,\nor in the case of a school district, by resolution, which local law or\nresolution may either be the same as or separate from the local law or\nresolution that initially authorized the credit. Once such a limit has\nbeen adopted, it may be amended or repealed thereafter by local law, or\nin the case of a school district, by resolution, provided that any such\namendment or repeal shall only apply to taxes of the participating\nmunicipal corporation for fiscal years commencing after the adoption of\nsuch local law or resolution. A copy of any local law or resolution\nestablishing, amending or repealing such a limit shall be provided to\nthe collecting officer who collects the taxes of the participating\nmunicipal corporation.\n 2. For purposes of this section, the "associated credit year" shall be\nthe twelve-month period during which the owner of the property has made\na contribution described in subdivision one of this section that ends on\nthe last day prescribed by law on which the taxes of the participating\nmunicipal corporation may be paid without interest or penalties, subject\nto the following:\n (a) Where such taxes are payable in installments, such twelve-month\nperiod shall end on the last day prescribed by law on which the first\ninstallment of such taxes may be paid without interest or penalties.\n (b) Where a participating municipal corporation is a city school\ndistrict that is subject to article fifty-two of the education law, such\ntwelve-month period shall end on the last day prescribed by law on which\ncity taxes may be paid without interest or penalties, or if applicable,\non the last day prescribed by law on which the first installment of such\ntaxes may be paid without interest or penalties.\n (c) Each such twelve-month period shall be determined without regard\nto the possibility that the period prescribed by law for paying such\ntaxes without interest or penalties may be extended due to a delay in\nthe first publication of the collecting officer's notice as provided by\nsections thirteen hundred twenty-two or thirteen hundred twenty-four of\nthis chapter or a comparable law, or due to an executive order issued in\nconnection with a state disaster emergency as provided by subdivision\ntwo of section nine hundred twenty-five-a of this chapter.\n 3. The credit authorized by this section shall be administered as\nfollows:\n (a) The administrator of the fund or its designated agent shall, upon\nreceiving a contribution to the fund specified in subdivision one of\nthis section during a credit year, furnish the property owner with an\nacknowledgement in duplicate. Such acknowledgement shall be provided on\na form prescribed by the commissioner and shall specify the amount of\nthe contribution, the name and address of the donor, the date the\ncontribution was received, the authorized signature of the administrator\nor agent, and such other information as the commissioner shall require.\n (b) After receiving such an acknowledgement, the property owner may\npresent it to the appropriate collecting officer on or before the last\nday prescribed by law on which taxes may be paid without interest or\npenalty, together with a credit claim on a form prescribed by the\ncommissioner. Such credit claim form shall contain the name of the\nproperty owner or owners, the date and amount of the contributions made\nto the account during the associated credit year, the address of the\nproperty to which the credit claim relates, and such other information\nas the commissioner shall require. Notwithstanding any provision of law\nto the contrary, the collecting officer shall thereupon be authorized\nand directed to grant the property owner a tax credit equal to\nninety-five percent, or such lesser allowable percentage credit as may\nhave been established pursuant to paragraph (c) of subdivision one of\nthis section, of the amount of the contributions made during the\nassociated credit year as specified on the acknowledgement, and to\nreduce the tax liability on the parcel accordingly, provided that such\ncredit may not exceed any percentage credit or other limit established\nby the participating municipal corporation pursuant to paragraph (c) of\nsubdivision one of this section, if such a limit has been established,\nand may not exceed the property taxes due or paid that are attributable\nto the participating municipal corporation. Where taxes are payable in\ninstallments, if the credit exceeds the amount of the first installment,\nthe excess shall be applied to future installments until exhausted. The\nparticipating municipal corporation may adopt a local law, or in the\ncase of a school district, a resolution, providing that where a property\nowner submits a credit claim form to the collecting officer prior to the\ncollecting officer's receipt of the tax warrant, or such other date as\nmay be specified in such local law or resolution, the associated\nproperty tax bill shall reflect a reduction in the tax liability equal\nto the credit authorized by this section; provided however that if the\ncollecting officer is not employed by the participating municipal\ncorporation, such local law or resolution shall not take effect unless\nand until the governing body of the municipal corporation that employs\nthe collecting officer has adopted a resolution agreeing thereto. The\ndepartment of financial services, in consultation with the department,\nshall promulgate regulations related to the adjustment of mortgage\nescrow accounts to reflect the credits provided pursuant to this\nsection.\n (c) If the property owner fails to present the acknowledgment and\ncredit claim form to the collecting officer on or before the last day\nprescribed by law on which taxes may be paid without interest or\npenalty, he or she may present the same to the chief fiscal officer or\nchief financial officer of the participating municipal corporation, or\nto a member of his or her staff. Such officer shall thereupon be\nauthorized and directed to grant the property owner a refund of property\ntaxes in the amount of the credit, which amount shall be equal to\nninety-five percent, or such lesser allowable percentage credit as may\nhave been established pursuant to paragraph (c) of subdivision one of\nthis section, of the total contributions made during the associated\ncredit year, provided that such refund shall not exceed the property\ntaxes that have been paid on the property or any percentage credit or\nother limit established pursuant to paragraph (c) of subdivision one of\nthis section, if any, and may not exceed the property taxes due or paid\nthat are attributable to the participating municipal corporation.\nProvided further, that no interest shall be payable on such refund if\npaid within forty-five days of the receipt of the acknowledgment and\ncredit claim form. The owner of the property may file such refund claim\nwith the authorized officer at any time during the three year period\nbeginning immediately after the last day such taxes were payable without\ninterest or penalty.\n 4. The amount of the itemized deduction that may be claimed by a\ntaxpayer under section six hundred fifteen of the tax law with respect\nto the taxes paid on such property may not exceed the amount of the\ntaxes of a participating municipal corporation that have been imposed\nupon such property minus the amount of the credit provided pursuant to\nthis section.\n