Bill Text: NY S09822 | 2023-2024 | General Assembly | Introduced

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Bill Title: Extends the application deadlines for tax abatements for certain industrial and commercial properties in a city of one million or more persons.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2024-09-20 - SIGNED CHAP.332 [S09822 Detail]

Download: New_York-2023-S09822-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          9822

                    IN SENATE

                                      June 2, 2024
                                       ___________

        Introduced  by Sen. SEPULVEDA -- (at request of the NYC Finance) -- read
          twice and ordered printed, and when printed to  be  committed  to  the
          Committee on Rules

        AN ACT to amend the real property tax law and the administrative code of
          the  city  of New York, in relation to extending the application dead-
          lines for tax abatements for certain industrial and commercial proper-
          ties in a city of one million or more persons

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section 1. Paragraph (a) of subdivision 1 of section 489-dddddd of the
     2  real  property tax law, as amended by section 3 of part SS of chapter 56
     3  of the laws of 2020, is amended to read as follows:
     4    (a) Application for benefits pursuant to this title may be made  imme-
     5  diately  following the effective date of a local law enacted pursuant to
     6  this title and continuing until March first, two thousand  [twenty-five]
     7  twenty-nine.
     8    § 2. Subdivision 3 of section 489-dddddd of the real property tax law,
     9  as amended by section 4 of part SS of chapter 56 of the laws of 2020, is
    10  amended to read as follows:
    11    3.  (a)  No  benefits  pursuant  to  this  title  shall be granted for
    12  construction work performed pursuant to a building permit  issued  after
    13  April first, two thousand [twenty-five] twenty-nine.
    14    (b)  If  no building permit was required, then no benefits pursuant to
    15  this title shall be granted for  construction  work  that  is  commenced
    16  after April first, two thousand [twenty-five] twenty-nine.
    17    § 3. Paragraph 1 of subdivision a of section 11-271 of the administra-
    18  tive code of the city of New York, as amended by section 8 of part SS of
    19  chapter 56 of the laws of 2020, is amended to read as follows:
    20    (1)  Application  for benefits pursuant to this part may be made imme-
    21  diately following the effective date of the local law  that  added  this
    22  section  and  continuing  until  March first, two thousand [twenty-five]
    23  twenty-nine.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15828-01-4
        S. 9822                             2

     1    § 4. Subdivision c of section 11-271 of the administrative code of the
     2  city of New York, as amended by section 9 of part SS of  chapter  56  of
     3  the laws of 2020, is amended to read as follows:
     4    c.  (1)  No  benefits  pursuant  to  this  part  shall  be granted for
     5  construction work performed pursuant to a building permit  issued  after
     6  April first, two thousand [twenty-five] twenty-nine.
     7    (2)  If  no building permit was required, then no benefits pursuant to
     8  this part shall be granted for construction work that is commenced after
     9  April first, two thousand [twenty-five] twenty-nine.
    10    § 5. This act shall take effect immediately.