What's happening
This bill creates a tax credit for New York tenants who are members of tenant associations, with higher credits for regulated and public housing.
Why it matters
Encourages Tenant Organizing. By tying tax credits to tenant association membership, the bill incentivizes renters to join or form associations, potentially strengthening tenant advocacy and collective bargaining power across New York.
Targets Housing Equity. The bill provides larger credits for those in rent-regulated and public housing (10% and 15% of rent, respectively), aiming to deliver greater financial relief to lower-income tenants who are often more rent-burdened.
Refundable Benefit. If the credit exceeds a renter’s tax liability, the excess is refunded, ensuring that even tenants with little or no tax owed can still benefit—a crucial feature for many low-income New Yorkers.
Potential Policy Shift. This initiative marks a novel use of tax policy to promote social organization among tenants, potentially serving as a model for other states seeking to empower renters and address housing instability.
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Who cares
Headline styles
Tax Credit for Tenants
Plain English, a few words. Used as the page title.
Sponsors
4 Co-sponsors
History
- Referred to ways and means
- Referred to ways and means
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2203
2019-2020 Regular Sessions
IN ASSEMBLY
January 22, 2019
Introduced by M. of A. PICHARDO -- read once and referred to the Committee on Ways and Means
AN ACT to amend the tax law, in relation to establishing a tenant association tax credit
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 606 of the tax law is amended by adding a new subsection (jjj) to read as follows:
(jjj) Tenant association tax credit. (1) For taxable years beginning on and after January first, two thousand nineteen, a taxpayer who is a member of a tenant association shall be allowed a credit against the tax imposed by this article. The amount of the credit shall be:
(A) five percent of the taxpayer's monthly rent for a taxpayer living in market rate housing;
(B) ten percent of the taxpayer's monthly rent for a taxpayer living in rent regulated housing; and
(C) fifteen percent of the taxpayer's monthly rent for a taxpayer living in public housing.
(2) If the amount of the credit allowed under this subsection for any taxable year shall exceed the qualified taxpayer's tax for such year, the excess shall be treated as an overpayment of tax to be credited or refunded in accordance with section six hundred eighty-six of this article, provided, however, that no interest shall be paid thereon.
§ 2. This act shall take effect immediately and shall apply to taxable years beginning on and after January 1, 2019.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06372-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.