NY A01193

Authorizes cities to adopt local laws granting property tax abatements to residential rental buildings (3+ units) that complete lead-based paint remediation

Tax abatement equals the cost of lead remediation, paid over a maximum of two years, with cities able to set maximum dollar limits per building

Lead remediation must be performed by EPA-certified firms and includes permanent removal, enclosure, or encapsulation of lead paint from interior surfaces, window sills, window frames, and porches

Property owners must apply within one year of completing remediation, submitting sworn statements, EPA certification of the contractor, itemized costs, and proof of payment

Buildings with delinquent city taxes are ineligible, and each building may only receive the abatement once; applies to assessment rolls based on taxable status dates on or after January 1, 2026