What's happening
This bill imposes a fee on owners of commercial properties that remain vacant for six months or more in large cities.
Why it matters
Targets long-term vacancies. By charging owners of commercial properties that have been vacant for six months or more, the bill incentivizes landlords to fill empty spaces rather than leave them unused, potentially helping to reduce urban blight and revitalizing business corridors.
Financial impact on property owners. The recurring 1% monthly fee (based on assessed value) can add up quickly, creating a significant financial pressure on owners who may be holding out for higher rents or waiting for property values to rise.
Potential ripple effects on local economies. The measure could help address issues like reduced foot traffic and declining neighborhood vitality often caused by clusters of vacant storefronts, indirectly benefiting small businesses, local employment, and community safety.
State revenue implications. All collected fees go into the state’s general fund, potentially providing new resources for public services, infrastructure, or urban development initiatives.
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Tax Vacant Storefronts
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History
- Referred to local governments
- Referred to local governments
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.
Tax Vacant Storefronts
In Senate Committee · Cities · Sponsor Robert Jackson
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
6997
2019-2020 Regular Sessions
IN ASSEMBLY
April 3, 2019
Introduced by M. of A. L. ROSENTHAL -- read once and referred to the Committee on Local Governments
AN ACT to amend the general municipal law, in relation to imposing a fee on vacant commercial properties in cities with a population of one million or more
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The general municipal law is amended by adding a new section 99-x to read as follows:
§ 99-x. Vacant commercial property fee. 1. As used in this section: (a) "Vacant property" means commercial property that has been continuously vacant for a period of six months or more.
(b) "Commercial property" means any property in a city with a population of one million or more that is zoned as commercial property by such city.
2. Notwithstanding any general, special or local law to the contrary, any owner of a vacant commercial property or properties in a city with a population of one million or more shall pay a fee to the state as prescribed in subdivision three of this section.
3. Such fee required by subdivision two of this section shall be at the rate of one percent of the assessed value of the vacant commercial property and shall be paid to the state every thirtieth day such commercial property remains vacant.
4. All fees received by the state pursuant to this section shall be paid into the general fund of the state.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08295-01-9
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.