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NY A10508
Bill
Status
5/31/2022
Primary Sponsor
Deborah Glick
Click for details
AI Summary
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Amends real property tax law section 467-c to authorize tax abatements for properties containing dwelling units in cities with populations of one million or more.
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Allows local laws, ordinances, or resolutions to provide rent increase exemption orders for qualifying tenants with signed agreements limiting rent increases to amounts established by the rent guidelines board or another amount in their regulatory agreement.
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Permits the effective date of rent increase exemption orders and tax abatement certificates to be May 31, 2022 for applicants found eligible within 180 days of the subdivision taking effect.
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Applies to real property formerly subject to Article II of the private housing finance law prior to the effective date of the 2022 chapter that added this subdivision.
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Takes effect on the same date as the related 2022 legislation (S. 6903 and A. 7986).
Legislative Description
Relates to authorizing tax abatements for certain properties containing dwelling units; provides that in a city having a population of one million or more, a local law, ordinance, or resolution that may provide that the effective date of a rent increase exemption order and tax abatement certificate shall be May thirty-first, two thousand twenty-two for certain applicants.
Last Action
substituted by s9471
6/3/2022