NY A03097

Amends Real Property Tax Law section 444-a to modify requirements for tax exemptions on historic property alterations and rehabilitation.

Removes prior requirements that alterations must be made for historic preservation purposes, meet local preservation guidelines, and receive local preservation commission approval before work commences.

Retains requirement that property be designated as a landmark or contribute to an historic district, and that work commence after the local law or resolution becomes effective.

Adds new requirement that any alterations or rehabilitation under local preservation commission jurisdiction must be approved by that commission before work begins.

Allows counties, cities, towns, villages, and school districts to reduce the exempt percentage, limit exemption eligibility to certain alterations, or extend exemptions to projects outside preservation commission jurisdiction if applicable projects still receive commission approval.