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NY A01546
Bill
Status
1/17/2023
Primary Sponsor
Linda Rosenthal
Click for details
AI Summary
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Amends Real Property Tax Law Section 421-a to require affordable housing units receiving tax abatement and extended affordability period benefits to become subject to rent stabilization upon expiration of those benefits
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Provides that affordable housing units receiving tax exemptions or abatements under other state laws shall not be subject to rent stabilization until those separate tax benefits expire
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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
1/3/2024