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Who cares
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Sponsors
1 Co-sponsor
History
- Referred to housing, construction and community development
- Referred to housing, construction and community development
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S5619
Title of bill
An act to amend the real property tax law, in relation to the exemption of new multiple dwellings from local taxation; and to repeal certain provisions of such law relating thereto
Summary of provisions
This legislation will restore the parameters of the 421-a real property tax program to pre-2008 changes
Existing law
Significantly limits the application of real property tax benefits
Justification
As a result of changes to the 421-a program in 2007/2008 applications for participation have dropped significantly, which has had an adverse economic impact in New York City.
Local fiscal implications
To be determined.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.