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NY S06829
Bill
Status
5/11/2023
Primary Sponsor
Kevin Parker
Click for details
AI Summary
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Establishes a five-year demonstration program in Kings County to extend J-51 tax exemption eligibility to conversion and rehabilitation projects combining commercial/manufacturing space with co-located work space and residential units
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Targets high-density, underutilized M-1 zoned properties in Kings County for the expanded J-51 exemption program
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J-51 exemption provides property tax exemption and abatement for renovation projects, with credit amounts varying based on building location and improvement type
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Takes effect immediately upon enactment and automatically expires and repeals five years after the effective date
Legislative Description
Establishes a demonstration program extending the J-51 tax exemption to the conversion and rehabilitation of commercial and manufacturing space to co-located work space and residential units in certain high density areas in Kings county.
Last Action
REFERRED TO LOCAL GOVERNMENT
1/3/2024