NY S05412

Suspends property tax payment obligations for owners of one, two, or three family dwellings during a state disaster emergency and the 30-day period following its end, with no interest or penalties assessed.

Suspends all rent payment obligations for residential tenants and small business commercial tenants who lost income or were forced to close due to government-ordered restrictions during a state disaster emergency and the 30-day period following its end, with waived rent never required to be repaid.

Provides mortgage payment forgiveness to property owners for covered properties, calculated as a fraction based on suspended tenant rent divided by total typical rent owed during the covered period, up to the total amount of lost rent.

Requires all state and local authorities providing power, water, or sewer utilities to suspend payment collection from all customers during a state disaster emergency and the 30-day period following its end, with waived utility charges never required to be repaid and no late fees collectible.

Takes effect immediately upon enactment.