NY A02002

Creates a 50% property tax exemption on assessed value for real property owned by corporations or individuals operating a licensed child day care as defined under Social Services Law section 390

Requires counties, cities, towns, villages, or school districts to adopt a local law after holding a public hearing to grant the exemption in their jurisdiction

Allows local legislative bodies to adopt a local law reducing the maximum exemption below 50%

Terminates the exemption if the child day care property ceases to be used for eligible child care purposes