Loading chat...
NY A08899
Bill
Status
Introduced
1/19/2022
Primary Sponsor
Linda Rosenthal
Click for details
AI Summary
- Amends New York Real Property Tax Law Section 421-a to require affordable housing units receiving tax abatement and extended affordability benefits to become subject to rent stabilization upon expiration of those benefits
- Units receiving tax exemptions or abatements under other laws shall not be subject to rent stabilization until those separate tax benefits expire
- Applies to affordable housing units under the Affordable New York Housing Program (421-a)
- Takes effect immediately upon enactment
Legislative Description
Requires affordable housing units that are subject to the provisions of the Affordable New York Housing Program to be subject to rent stabilization at the end of the tax abatement and extended affordability period; provides that units subject to tax exemptions or abatements pursuant to other laws be subject to rent stabilization at the expiration of such tax exemptions or abatements.
Last Action
referred to real property taxation
1/19/2022
Committee Referrals
Real Property Taxation1/19/2022
Full Bill Text
No bill text available