Exempts certain not-for-profit corporations from real estate transfer tax for food relief organization conveyances.

New York S00389 amends the tax law to exempt certain not-for-profit corporations from the real estate transfer tax when the conveyance is to a food relief organization. This exemption applies to organizations providing food for free to persons experiencing food insecurity, including food pantries, food banks, and soup kitchens. The bill allows towns to implement this exemption through local law. The amendments take effect immediately.

Exempts certain not-for-profit corporations from real estate transfer tax for food relief organization conveyances.

New York S00389 amends the tax law to exempt certain not-for-profit corporations from the real estate transfer tax when the conveyance is to a food relief organization. This exemption applies to organizations providing food for free to persons experiencing food insecurity, including food pantries, food banks, and soup kitchens. The bill allows towns to implement this exemption through local law. The amendments take effect immediately.