WeVote
Log In

Bill

Bill

A 7494

Relates to real property tax lien transfers; repealer

2025 Regular Session Introduced by Gary Pretlow

A 7494 governs real property tax lien transfers and repeals existing rules, affecting local tax authorities, lien buyers, and property owners' redemption rights.

REFERRED TO REAL PROPERTY TAXATION
0
WeVote Research Nonpartisan
Bill Summary · A 7494

Summary of Assembly Bill A 7494 (New York)

Overview

  • Bill number: A 7494
  • Title: Relates to real property tax lien transfers; repealer
  • Status: Referred to Real Property Taxation
  • Introduced: March 28, 2025
  • Primary sponsor: J. Gary Pretlow
  • Related bills (prior-session): A 2686, A 4037, A 6302, A 2120, A 4499, A 1810, A 4702

What the bill would do (based on the title)

  • The bill concerns real property tax lien transfers and includes a repealer.
  • The specific text and provisions are not provided here, so the exact changes to current law (procedures, eligibility, pricing, redemption rights, notice requirements, or enforcement) are not yet known.

Potential scope and topics (inferred from the title)

  • The bill could address:
    • How real property tax liens may be transferred or sold (e.g., to third-party bidders, investors, or other entities).
    • Conditions, processes, or qualifications for lien transfers.
    • Rights and remedies for property owners to redeem liens.
    • Financial terms or rates associated with lien transfers (if applicable).
    • Repeals of existing statutory provisions related to tax lien transfers or related transfer mechanisms.
  • Because the full text is not provided, the exact mechanisms, exceptions, and transitional provisions remain to be seen.

Who would be affected

  • Local governments/municipal tax authorities that issue and manage tax liens.
  • Tax lien purchasers or investors who buy liens or participate in transfer processes.
  • Property owners subject to tax liens (potentially affected by changes to redemption rights or transfer procedures).
  • Mortgagees and lienholders that may be impacted by changes in lien transfer rules or priorities.

Procedural and timeline aspects

  • Introduction date: March 28, 2025.
  • Current stage: Referred to the Committee on Real Property Taxation. This is an early stage; no committee action, amendments, or floor votes are reflected in the available information.
  • The duplicate listing of the same committee referral on the same date likely reflects a clerical record rather than a substantive difference.

Context and next steps

  • The bill’s content is not yet available for a detailed provision-by-provision summary.
  • For a complete understanding, the bill text or a formal bill memorandum from the Assembly Real Property Taxation committee is needed.
  • If you can provide the bill’s text or a link to the official bill page, I can produce a detailed, provision-by-provision analysis, including specific changes, fiscal impact, and timelines.

If you’d like, I can also incorporate any available summaries from related bills (A 2686, A 4037, A 6302, etc.) to provide context on how A 7494 might align with prior-session proposals.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.