NY S06211

Creates the "RESTORE Act" (Reducing Excess Scaffolding and Timely Ongoing Repair Efforts Act) to provide property tax abatements for New York City building owners who complete facade repairs and remove sidewalk sheds within 12 months of installation

Offers a graduated tax abatement based on repair speed: 50% abatement for completion within 3 months, decreasing by 5% for each additional month, down to 5% at 12 months; abatement is calculated on the lesser of repair costs or annual property taxes

Imposes penalties on building owners who fail to complete repairs and remove sheds within 18 months: 10% of property taxes plus 2% for each additional month of delay, capped at 25% maximum penalty per tax year

Applies to ongoing repair projects at the time of enactment, with special transition rules: projects underway less than one year receive no penalty for pre-enactment time; projects over one year old are counted toward penalties but get at least 6 months to complete without penalty

Requires building owners to submit proof of compliance to NYC Department of Finance to claim abatements, and allows owners to dispute penalties if delays resulted from factors outside their control