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Sponsors
No co-sponsors yet.
History
- Referred to housing, construction and community development
- Referred to housing, construction and community development
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Requires notice to the local housing agency when construction is halted on a project for which an application for a certain tax exemption has been made
Assembly Floor Calendar · Sponsor Brian Kavanagh
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S41
Title of bill
An act to amend the real property tax law, in relation to requiring notification to be given to the local housing agency in the event that cessation of construction on a project for which an application for a certain tax exemption has been made equals or exceeds one hundred twenty days
Purpose
To require applicants under the 421-a tax abatement program to provide written notice to the local housing agency when construction ceases for a period exceeding one hundred twenty days.
Summary of provisions
Adds a new subdivision 5-a to Section 421-a of the real property tax law requiring applicants to affirmatively notify the local housing agency in writing when construction ceases for a period exceeding one hundred twenty days, the reasons for the cessation and the date construction is expected to resume.
Existing law
Section 421-a real property tax law.
Justification
When affordable housing building projects are halted, communities should know about this loss of housing. Projects that cease construction without explanation leave neighbors questioning whether the excavation in their midst will ever conclude and provide the needed housing and improvements that were promised when the project was approved. Requiring the developer to provide notice when construction ceases and when it will resume will help assuage these concerns and provide some level of assurance that the project will be completed in a reasonable period of time.
Legislative history
2010: S.5281A (Squadron) - Third Reading Cal. 841, A.8125A (Kavanagh) - Passed Assembly 2009: S.5281A (Squadron) - Third Reading Cal. 516, A.8125A (Kavanagh) - Passed Assembly
Fiscal implications
None to New York State.
Local fiscal implications
None.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.