NY A00513

Establishes a property tax credit for class 2 cooperative and condominium buildings that receive a "safe" designation following a facade safety program inspection under NYC Administrative Code Article 302.

Abates and reduces property taxes by an amount equal to the full cost of the facade safety inspection for eligible properties.

Requires the abatement to be reevaluated every five years following the initial inspection to determine continued eligibility.

Takes effect immediately upon enactment.