Bill Text: NY A10530 | 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: (Introduced) 2024-06-06 - substituted by s9822 [A10530 Detail]

Download: New_York-2023-A10530-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          10530

                   IN ASSEMBLY

                                      June 2, 2024
                                       ___________

        Introduced  by  COMMITTEE  ON  RULES -- (at request of M. of A. Dais) --
          read once and referred to the Committee on Ways and Means

        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.
    24    § 4. Subdivision c of section 11-271 of the administrative code of the
    25  city  of  New  York, as amended by section 9 of part SS of chapter 56 of
    26  the laws of 2020, is amended to read as follows:

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15828-01-4
        A. 10530                            2

     1    c. (1) No  benefits  pursuant  to  this  part  shall  be  granted  for
     2  construction  work  performed pursuant to a building permit issued after
     3  April first, two thousand [twenty-five] twenty-nine.
     4    (2)  If  no building permit was required, then no benefits pursuant to
     5  this part shall be granted for construction work that is commenced after
     6  April first, two thousand [twenty-five] twenty-nine.
     7    § 5. This act shall take effect immediately.