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NY A08579
Bill
Status
1/12/2024
Primary Sponsor
Matthew Slater
Click for details
AI Summary
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Creates a new real property tax exemption for property owned by corporations or individuals operating a licensed child day care facility as defined by Social Services Law Section 390.
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Exempts up to 50 percent of the assessed valuation of qualifying child day care property from taxation.
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Allows counties, cities, towns, villages, and school districts to adopt local laws to grant the exemption after holding a public hearing.
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Permits local legislative bodies to reduce the maximum exemption percentage through local law.
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Terminates the exemption if the property ceases to operate as a licensed child day care facility.
Legislative Description
Provides an optional tax exemption for property operating as a child day care that localities can opt into through local law.
Last Action
referred to real property taxation
1/12/2024