New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-06-17
Real Estate Board Issues
Summary of Its Legisla-
tive Work
1917 Has Best Record
Outlines the More Important
Measures of Interest to
Property Owners
BY the Real Estate Board

The Real Estate Board of New YORK
has issued summary OF the work OF
it's Legislation and Taxation Commit
tee during the 1917 session of the
Legislature, and a brief enumeration
Of the more important new laws o.
interest to real estate owners.
The committee devoted its attention
particularly to bills amending the la-
Dor tax and banking laws, the last
named law in relation to lending or
Torrens titles, and the bill amending
the tenement house law so as to per-
nit three story dwellings to be con-
verted into tenements.
The work Of the boards committee
was confined to bills Of this nature.
Ont OF all bills introduced 573 were
selected for serious consideration. o.
these 175 were opposed and 81 were
approved OF the 175 bills opposed,
1913 failed TO become law, and II be-
came law. OF the 81 bills which were
approved 43 became law. seven passed
the Legislature but were vetoed by
the Governor, one passed the Legis-
lature but was not accepted by the
Mayor, nine passed one house, but
failed of passage in the other, and 81
died in committee.
OF the labor law bills the most i'm
portant to become law was Assembly
man Bewley's bill redefning factory
so as to relieve factories and factory
buildings from structural changes
where in the one case less than six
persons are employed at manufactur-
ing and in the other twenty-five per-
sons. or onc-tenth of all the persons
employed in the building.
The board this year has had its
largest success in the net results of
the work of its committee. as most
of the bills opposed were defeated and
half of those approved became law.
The work OF Analysing these bills
was done by a joint subcommittee OF
tie legislation and taxation committee
and the real estate laws committee,
consisting Of the following: Robert
L. Bowling. John p. Leo, Carlisle Nor
wood. Stanley N. Isaacs, Henry K. Chit
tick, Harry Percy David, Samuel p.
Goldman. George W. Olyany, b. r.
Martin, d. A. Clarkson, William j.
FULLY and William Il. Ellison.
The following is summary OF the
more important laws affecting real
estate:
Taxation
Corporation tax not lien after expi-
ration Of ten years. Chapter 40;
franchise tax, time of report between
November / and December 10, Chapter
90; trust mortgage advances, penalty
for failure to file statement, Chapter
573; amending the liquor tax law, IN
creaSes fees generally, with schedule
of rates, Chapter 623; abolishing the
secured debts tax and substituting
tax on investments, Chapter 700, and
imposing a per cent franchise tax
on the income of manufacturing and
mercantile corporations, Chapter I26.
Also increasing to $40 the minimum
amount of organization tax on corpora
tiors, Chapter 493; non-residents,
time limit or application for hearing
and review Of assessment, Chapter 1S9;
imposing q franchise tax on investment
companies, Chapter 707, and imposing
a direct state tax of one and eight one
hundredths mills on each dollar Of
taxable property. Chapter 762.
Labor Law
Providing for juvenile employment
bureaus in first and second class
cities, Chapter 749; giving the Board
of Standards and Appeals power TO
make rules and regulations regarding
the installation of fire alarm signal
systems, Chapter 63i; redeiining "fac-
tory" and "factory building" Chapter
694; permitting the use of trough wa
ter closets, Chapter sos; making more
lenient the provisions regarding the
Enclosure of CONFERENCE.-The and the
lighting of elevators, Chapter 532;
number of exits required in sprln-
klered and unsprinklcred buildings,
Chapter 721.
Tenement House Law
Three family houses. permits alter
atoms Of 47-foot three story and base
ment brick or stone dwellings for use
by one family on each floor, Chapter
SOC; prohibiting contracts or agree
ments with dealers for the sale of fuel.
ice or food to tenants in tenements or
apartments, Chapter 702; making minor
changes in the law in relation TO the
placing of fire escapes in courts and in
relation TO drainage, etc, Chapter 500.
Insurance
Permitting insurance against bonn
bardment, Chapter 1855; permitting in
surance against invasion, riot, etc,
Chapter 225; amending the workmen's
compensation law, Chapter 705.
Torrens System
Permitting savings banks and saw
ings and loan associations TO lend on
Torrens titles. Chapter 1877; permitting
trust companies to lend on Torrens
titles, Chapter 400.
Real Estate
Permitting the payment of interest
on a tax lien TO the collector of as
sessments and arrears, Chapter 81; per-
hitting trust companies TO invest in
bonds and mortgages by apportioning
TO any estate or fund part interest in
such bonds and mortgages. Chapter
3s5; time limit for appeal from final
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