NY State Senate Bill 2023-S6829

Senate Bill S6829

2023-2024 Legislative Session

Establishes a demonstration program extending the J-51 tax exemption to the conversion and rehabilitation of commercial and manufacturing space to certain high density area in Kings county

download bill text pdf

Current Bill Status - In Senate Committee Local Government 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

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2024	referred to local government
May 11, 2023	referred to local government

2023-S6829 (ACTIVE) - Details

Current Committee:: Senate Local Government
Law Section:: Kings County
Versions Introduced in Other Legislative Sessions:: 2013-2014: S7606
2015-2016: S2730
2017-2018: S2359
2019-2020: S5030
2021-2022: S5431

2023-S6829 (ACTIVE) - Summary

Establishes a demonstration program extending the J-51 tax exemption to the conversion and rehabilitation of commercial and manufacturing space to co-located work space and residential units in certain high density areas in Kings county.

2023-S6829 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S6829

SPONSOR: PARKER
 
TITLE OF BILL:

An act to establish a demonstration program extending the J-51 tax
exemption to the conversion and rehabilitation of commercial and manu-
facturing space to co-located work space and residential units in
certain high density areas in Kings county; and providing for the repeal
of such provisions upon expiration thereof

 
PURPOSE OR GENERAL IDEA OF BILL:

This bill establishes a demonstration program extending the J-51 tax
exemption to the conversion and rehabilitation of commercial and manu-
facturing space to certain high density areas in Kings county.

 
SUMMARY OF PROVISIONS:

Section 1 establishes a demonstration program to extend the provisions
of the J-51 tax exemption to the conversion and rehabilitation of
commercial and manufacturing space to co-located work space and residen-

tial areas in certain high density, underutilized M-1 zoned properties
in Kings county.

 
JUSTIFICATION:

The J-51 benefit program is a tax incentive for the renovation of multi-
ple unit residential buildings in New York City. It was created in to
give incent to owners of rent-regulated buildings to make improvements
to their buildings. Through the program, owners are able to recover
approximately 75% of the costs of the improvements and with a building
receiving J-51 funds, it is not allowed to decontrol rent.

The J-51 tax incentive program has been a driving force in the rehabili-
tation of older residential buildings for years. But its reach must be
extended.

There are many underutilized properties in Brooklyn that have yet to
receive the benefits of J-51. This bill adapts to a new modality of an
entrepreneurial millennial workforce who will need to live and work
within the same space given the low to non-existent vacancy rate of
affordable housing. This modification to the program, will continue to
make J-51 one of the most successful housing rehabilitation programs in
New York City history.

 
PRIOR LEGISLATIVE HISTORY:

2021-22: S.5431 - Referred to Local Government

2019-20: S.5030 - Referred to Local Government

2017-18: S.2359 - REFERRED TO LOCAL GOVERNMENT:

2015-2016: S.2730 - Referred to Local Government

 
FISCAL IMPLICATIONS:

Minimal.
 
EFFECTIVE DATE:
This act shall take effect immediately and shall expire and be deemed
repealedp five years after such effective date.

2023-S6829 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6829
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               May 11, 2023
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to establish a  demonstration  program  extending  the  J-51  tax
   exemption to the conversion and rehabilitation of commercial and manu-
   facturing  space  to  co-located  work  space and residential units in
   certain high density areas in Kings  county;  and  providing  for  the
   repeal of such provisions upon expiration thereof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. There is hereby  established  a  demonstration  program  to
 extend  the  provisions  of the J-51 tax exemption to the conversion and
 rehabilitation of commercial and manufacturing space to co-located  work
 space  and  residential units in certain high density, underutilized M-1
 zoned properties in Kings county. For purposes of this section, J-51  is
 a  property  tax  exemption  and  abatement for renovating a residential
 apartment building in certain counties of the city  of  New  York.  Such
 credit  varies  depending  on  the  building's  location and the type of
 improvements and shall be extended to the county of Kings.
   § 2. This act shall take effect immediately and shall  expire  and  be
 deemed repealed five years after such effective date.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07987-01-3

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.