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NY S09822
Bill
Status
9/20/2024
Primary Sponsor
Luis Sepulveda
Click for details
AI Summary
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Extends the application deadline for tax abatement benefits from March 1, 2025 to March 1, 2029 for industrial and commercial properties in cities with populations of one million or more persons.
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Extends the construction work deadline from April 1, 2025 to April 1, 2029, after which no benefits will be granted for work performed under building permits issued after that date.
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Extends the deadline for construction work commenced without a required building permit from April 1, 2025 to April 1, 2029.
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Amends the real property tax law and the administrative code of the city of New York to implement these extended deadlines.
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Takes effect immediately upon enactment.
Legislative Description
Extends the application deadlines for tax abatements for certain industrial and commercial properties in a city of one million or more persons.
Last Action
SIGNED CHAP.332
9/20/2024