S 7922: Provides that no interest shall accrue on taxes imposed by a city with a population of one million or more unless a tax appeals tribunal shall have made a determination within one year from the date a petition is filed.

  
  STATE OF NEW YORK ________________________________________________________________________ 7922 2025-2026 Regular Sessions  IN SENATE May 14, 2025 ___________ Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the tax law, in relation to limitations on interest on taxes imposed by cities with a population of one million or more The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The tax law is amended by adding a new section 1244 to read 2 as follows: 3 § 1244. Limitations on interest; cities over one million. Unless a tax 4 appeals tribunal shall have made a determination of the amount of any 5 tax payable under section twelve hundred one of this article within one 6 year from the date a petition is filed with such tax appeals tribunal, 7 no interest shall accrue or be paid with respect to taxes imposed under 8 the authority of section twelve hundred one of this article by such 9 city. 10 § 2. This act shall take effect immediately and shall apply to all 11 petitions in which a determination of the tax appeals tribunal has not 12 been issued. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13039-01-5