What's happening
This bill extends the filing deadline for certain applicants seeking industrial and commercial abatement program benefits in New York City.
Why it matters
Offers a second chance for applicants who missed prior filing deadlines. businesses that met all other program requirements but failed to submit their final application on time after 2008 can now retroactively qualify for tax abatements, provided they act within the new three-month window.
Could lead to increased investment and development. by allowing late filers to benefit from the abatement program, the bill may encourage more industrial and commercial property upgrades or developments that were previously stalled due to missed deadlines.
May impact city tax revenues and planning. a sudden influx of late applications could temporarily reduce tax collections from eligible properties and require administrative resources to process and investigate these new filings.
Addresses fairness and administrative flexibility. the bill recognizes procedural errors or hardships faced by property owners, aiming to balance adherence to deadlines with flexibility for those who otherwise qualified for economic development incentives.
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Who cares
Headline styles
Extend Abatement Filing Deadline
Plain English, a few words. Used as the page title.
Sponsors
Senator · Senate District 14
No co-sponsors yet.
History
- Referred to cities
- Referred to cities
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2442
2019-2020 Regular Sessions
IN SENATE
January 24, 2019
Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Cities
AN ACT to amend the real property tax law, in relation to extending certain filing deadlines for the industrial and commercial abatement program
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subparagraph (ii) of paragraph (a) of subdivision 5 of section 489-cccccc of the real property tax law, as amended by chapter 397 of the laws of 2017, is amended to read as follows:
(ii) Final application. Applicants shall file a final application for benefits no later than one year from the date of issuance of the first building permit for construction work, or, where construction work does not require a building permit, no later than one year from the date of commencement of construction. Abatement benefits shall not be granted until the applicant files the final application. If the final application is not filed within such one year period, abatement benefits shall not be granted until such application is filed, and the department may delay the granting of such benefits, at the department's discretion, to investigate the reason for the late filing. The department shall accept applications from applicants who (A) after the effective date of local law number sixty-seven of the city of New York for the year two thousand eight, met the requirements of this title but failed to file a final application within the time frame required by this subparagraph and (B) file a final application no later than three months from the effective date of the chapter of the laws of two thousand nineteen that amended this subparagraph.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08678-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the real property tax law, in relation to extending certain filing deadlines for the industrial and commercial abatement program
Purpose or general idea of bill
To allow businesses that were not able to comply with the original Industrial and Commercial Abatement Program (ICAP) filing deadline--due to additional procedural steps mandated by Local Law 67 of 2008--the opportunity to re-file with the NYC Department of Finance for said bene- fits.
Summary of provisions
Section 1 enumerates a condition upon which ICAP benefits may be granted to applicants who were otherwise qualified in every way and missed the final application filing date owing to additional requirements imposed by Local Law 67 of 2008 that created delay.
Justification
The Industrial and Commercial Abatement Program (ICAP) is a tax abate- ment in a city with more than one million persons. New York City has used this enabling statute to adopt a local law and has a successful 1CAP abatement program. A complex formula credits businesses property tax bills during the years construction is done to improve their proper- ty. The purpose of this tax abatement was to incentivize businesses to expand. The program has been very popular and the program has met with success.
However, due to the original program structure, and dual filing dead- lines (including a preliminary application and final application) many otherwise eligible entities were not able to receive benefits because intervening governmental actions (such as stop-work orders; permitting issues and additional mandates) caused them to be unable to file the final application in a timely manner, meaning one year after the prelim- inary application.
Chapter 397 of the Laws of 2017 partially addressed these challenges by granting the NYC Department of Finance the discretion to investigate the circumstances of late filings and award benefits in cases that merit it, prospectively. However, we still have a universe of businesses that were denied benefits under the old model where there is clear evidence that a governmental mandate-such as Local Law 67/2008 interfered with the abil- ity to make a timely final application. This bill creates a one-time, three-month window for this specific subset of businesses to reapply for benefits that they were., otherwise eligible for in every other way.
Prior legislative history
2018: S 837 COMRIE Same as A 10533
Fiscal implications for state and local governments
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.