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NY S00664
Bill
Status
5/28/2025
Primary Sponsor
James Skoufis
Click for details
AI Summary
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Allows local governments to tax private businesses that lease or use federal or state-owned real property, treating their possessory interest as taxable real property after the governing body adopts a local law following a public hearing
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Exempts from taxation concessions available to the general public located in or adjacent to airports, parks, markets, fairgrounds, roads, piers, marinas, railroads, bus lines, subways, and similar public facilities
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Provides a four-year phase-in period for existing possessory interests, with exemptions of 80% in year one, 60% in year two, 40% in year three, and 20% in year four before full taxation
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Excludes businesses with fewer than 25 employees and possessory interests already making payments in lieu of taxes equal to what would be owed
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Exempts possessory interests on military land from school property taxes if the school district receives federal Impact Aid funds pursuant to 30 CFR Part 222
Legislative Description
Subjects to taxation the possessory interest of a private individual or corporation which uses real property owned by the United States or the state, except for real property owned by public authorities, for business purposes; excludes private property where the use is for a concession available to the general public located on property, such as parks, available for the use of the general public.
Last Action
REFERRED TO LOCAL GOVERNMENT
1/7/2026