Senate Bill S1743

2023-2024 Legislative Session

Establishes a rent increase exemption for certain nonprofit organizations

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Cities 1 Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-S1743 (ACTIVE) - Details

See Assembly Version of this Bill:
A5920
Current Committee:
Senate Cities 1
Law Section:
Real Property Tax Law
Laws Affected:
Add Art 4 Title 7 §§499-aaaaaa - 499-hhhhhh, RPT L
Versions Introduced in Other Legislative Sessions:
2019-2020: S7616
2021-2022: S1041

2023-S1743 (ACTIVE) - Summary

Establishes a rent increase exemption for certain nonprofit organizations; provides a tax abatement for limiting rent increases on nonprofit organizations in a city of one million or more persons.

2023-S1743 (ACTIVE) - Sponsor Memo

2023-S1743 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1743
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2023
                                ___________
 
 Introduced  by  Sen.  RAMOS  -- read twice and ordered printed, and when
   printed to be committed to the Committee on Cities 1
 
 AN ACT to amend the real property tax law, in relation to establishing a
   nonprofit organization rent increase exemption
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Article 4 of the real property tax law is amended by adding
 a new title 7 to read as follows:
                                  TITLE 7
               TAX ABATEMENT FOR LIMITING RENT INCREASES ON
     NONPROFIT ORGANIZATIONS IN A CITY OF ONE MILLION OR MORE PERSONS
 SECTION 499-AAAAAA. DEFINITIONS.
         499-BBBBBB. REAL PROPERTY TAX ABATEMENT.
         499-CCCCCC. ELIGIBILITY REQUIREMENTS.
         499-DDDDDD. APPLICATION FOR CERTIFICATE OF ABATEMENT.
         499-EEEEEE. ENFORCEMENT AND ADMINISTRATION.
         499-FFFFFF. REPORTING REQUIREMENTS; REVOCATION OF ABATEMENTS.
         499-GGGGGG. TAX LIEN; INTEREST AND PENALTY.
         499-HHHHHH. CONFIDENTIALITY.
   §  499-AAAAAA.  DEFINITIONS.  WHEN  USED  IN THIS TITLE, THE FOLLOWING
 TERMS SHALL MEAN OR INCLUDE:
   1. "ABATEMENT BASE". THE LESSER OF (A) TWO DOLLARS AND FIFTY CENTS  OF
 THE  TAX  LIABILITY  PER  SQUARE FOOT OR (B) FIFTY PER CENTUM OF THE TAX
 LIABILITY PER SQUARE FOOT.
   2. "ABATEMENT ZONE". ANY AREA OF A CITY HAVING  A  POPULATION  OF  ONE
 MILLION  OR MORE. ANY TAX LOT THAT IS PARTLY LOCATED INSIDE AN ABATEMENT
 ZONE SHALL BE DEEMED TO BE ENTIRELY LOCATED INSIDE SUCH ZONE.
   3. "AGGREGATE FLOOR AREA". THE SUM OF THE GROSS AREAS OF  THE  SEVERAL
 FLOORS OF A BUILDING, MEASURED FROM THE EXTERIOR FACES OF EXTERIOR WALLS
 OR FROM THE CENTER LINES OF WALLS SEPARATING TWO BUILDINGS.
   4. "APPLICANT". THE LANDLORD AND THE TENANT.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04648-01-3
              

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