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NY A11104
Bill
Status
Introduced
11/6/2020
Primary Sponsor
Harvey Epstein
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AI Summary
- Amends the commercial rent tax code for Manhattan premises south of 96th Street to provide a 100 percent reduction in base rent taxes for premises with annual base rent under $1 million
- 100 percent reduction applies for the period beginning June 1, 2020 and ending the day before the tax period following the later expiration of Executive Order 202 of 2020 or the Mayor's Emergency Executive Order 98 (published March 12, 2020)
- Maintains existing tiered reduction structure (15 percent, 25 percent, and 35 percent reductions) for all other periods and premises not covered by the new COVID-19 relief provision
- Takes effect immediately upon enactment
Legislative Description
Reduces certain commercial rent taxes for premises located in the borough of Manhattan south of the center line of ninety-sixth street during the COVID-19 state disaster emergency.
Last Action
referred to ways and means
11/6/2020
Committee Referrals
Ways and Means11/6/2020
Full Bill Text
No bill text available