Bill Text: NY S03181 | 2025-2026 | General Assembly | Introduced

New York Senate Bill 3181

Introduced

Bill Title: Authorizes the commissioner of finance of the city of New York to establish a property tax amnesty program; provides that such program shall last for 4 months and shall forgive up to $1000 of interest on a delinquent tax bill if 100 percent of the principal bill is paid.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2025-01-24 - REFERRED TO CITIES 1 [S03181 Detail]

Download: New_York-2025-S03181-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          3181

                               2025-2026 Regular Sessions

                    IN SENATE

                                    January 24, 2025
                                       ___________

        Introduced  by  Sen.  FELDER -- read twice and ordered printed, and when
          printed to be committed to the Committee on Cities 1

        AN ACT authorizing the commissioner of finance of the city of  New  York
          to  establish  a  property  tax amnesty program; and providing for the
          repeal of such provisions upon expiration thereof

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

     1    Section  1.  Notwithstanding any provision of law to the contrary, the
     2  commissioner of finance of the city  of  New  York  shall  establish  an
     3  amnesty program for any property owner who has a delinquent property tax
     4  balance of more than $1,000 for more than one year. Such amnesty program
     5  shall last for a period of 4 months and shall:
     6    1. Forgive 100 percent of the interest on such delinquent property tax
     7  balance, if 100 percent of the principal bill is paid;
     8    2.  Forgive 75 percent of the interest on such delinquent property tax
     9  balance, if 50 percent of the principal bill is paid; and
    10    3. Forgive 50 percent of the interest on such delinquent property  tax
    11  balance, if 25 percent of the principal bill is paid.
    12    Any property owner with a delinquent property tax balance of less than
    13  $1,000  shall be eligible for forgiveness of 100 percent of the interest
    14  on such delinquent property tax balance if 100 percent of the  principal
    15  bill  is  paid.  Any property owner with a remaining delinquent property
    16  tax balance after participation  in  the  program  shall  enter  into  a
    17  payment agreement with the commissioner of finance.
    18    §  2.  This  act shall take effect immediately and shall expire and be
    19  deemed repealed one year after such date.


         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05536-01-5