NY State Senate Bill 2023-S9822

Senate Bill S9822

2023-2024 Legislative Session

Extends the application deadlines for tax abatements for certain industrial and commercial properties in a city of one million or more persons

download bill text pdf

Current Bill Status - Passed Senate & Assembly

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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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jun 06, 2024	returned to senate passed assembly ordered to third reading rules cal.520 substituted for a10530 referred to ways and means delivered to assembly passed senate
Jun 04, 2024	ordered to third reading cal.1750
Jun 02, 2024	referred to rules

Votes

- Jun 6, 2024 - Floor Vote
  S9822
  
  60
  
  Aye
  
  1
  
  Nay
  
  0
  
  Absent
  
  1
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Jun 6, 2024
      
      aye (60)
      
      Addabbo Jr.
      
      Ashby
      
      Bailey
      
      Borrello
      
      Breslin
      
      Brisport
      
      Brouk
      
      Canzoneri-Fitzpatrick
      
      Chu
      
      Cleare
      
      Comrie
      
      Cooney
      
      Felder
      
      Fernandez
      
      Gallivan
      
      Gianaris
      
      Gonzalez
      
      Gounardes
      
      Griffo
      
      Harckham
      
      Helming
      
      Hinchey
      
      Hoylman-Sigal
      
      Jackson
      
      Kavanagh
      
      Krueger
      
      Lanza
      
      Liu
      
      Mannion
      
      Martinez
      
      Martins
      
      Mattera
      
      May
      
      Mayer
      
      Murray
      
      Myrie
      
      O'Mara
      
      Oberacker
      
      Ortt
      
      Palumbo
      
      Parker
      
      Persaud
      
      Ramos
      
      Rhoads
      
      Rivera
      
      Rolison
      
      Ryan
      
      Salazar
      
      Sanders Jr.
      
      Scarcella-Spanton
      
      Sepúlveda
      
      Serrano
      
      Stavisky
      
      Stec
      
      Stewart-Cousins
      
      Tedisco
      
      Thomas
      
      Webb
      
      Weber
      
      Weik
      
      nay (1)
      
      Skoufis
      
      excused (1)
      
      Walczyk
  Jun 4, 2024 - Rules Committee Vote
  S9822
  
  19
  
  Aye
  
  0
  
  Nay
  
  1
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Rules Committee Vote: Jun 4, 2024
      
      aye (19)
      
      Addabbo Jr.
      
      Bailey
      
      Breslin
      
      Comrie
      
      Fernandez
      
      Gallivan
      
      Gianaris
      
      Griffo
      
      Krueger
      
      Lanza
      
      Liu
      
      Mayer
      
      O'Mara
      
      Ortt
      
      Parker
      
      Sepúlveda
      
      Stec
      
      Stewart-Cousins
      
      Thomas
      
      aye wr (1)
      
      Helming

2023-S9822 (ACTIVE) - Details

See Assembly Version of this Bill:: A10530
Law Section:: Real Property Tax Law
Laws Affected:: Amd §489-dddddd, RPT L; amd §11-271, NYC Ad Cd

2023-S9822 (ACTIVE) - Summary

Extends the application deadlines for tax abatements for certain industrial and commercial properties in a city of one million or more persons.

2023-S9822 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S9822

SPONSOR: SEPULVEDA
 
TITLE OF BILL:

An act to amend the real property tax law and the administrative code of
the city of New York, in relation to extending the application deadlines
for tax abatements for certain industrial and commercial properties in a
city of one million or more persons

 
SUMMARY OF PROVISIONS:

Sections one and three of this bill would amend paragraph (a) of subdi-
vision 1 of section 489-dddddd of the Real Property Tax Law, and subdi-
vision a of section 11-271 of the New York City Administrative Code,
respectively, to extend to March 1.2029 the date by which an applicant
may apply for a tax abatement under the Industrial and Commercial Abate-
ment Program ("ICAP").

Sections two and four of this bill would amend subdivision 3 of section
489-dddddd of the Real Property Tax Law and subdivision c of section
11-271 of the New York City Administrative Code, respectively, to extend
to April 1, 2029 the date by which an applicant must have been granted a

building permit, or, where no building permit is required, commenced
construction to apply for a tax abatement pursuant to ICAP.

Section five of this bill would make it effective immediately.

 
REASONS FOR SUPPORT:

ICAP promotes significant new economic activityò. This bill would extend
the generally applicable deadlines and expiration dates for the
submission and processing of applications for ICAP benefits for four
years, and in doing so, continue to allow the City of New York to admin-
ister a tax benefit that is critical to economic development.

It would also prevent a dramatic escalation in the cost of electricity
in New York City by extending the eligibility for an as-of-right proper-
ty tax abatement for peaking generation units for an additional four
years. Continuation of the availability of this abatement is necessary
because the property taxes that could be levied on a new peaking gener-
ation unit are one factor considered by the Federal Energy Regulatory
Commission in its process for establishing capacity prices in New York's
wholesale electricity markets. Absent the availability of this abate-
ment, the cost of capacity would increase and be passed on to consumers
through higher electric rates.

The City's support for extending the eligibility of this property tax
abatement is consistent with the City's goals to reduce greenhouse gas
emissions and transition to a carbon-free electric system. and its
support of the Climate Leadership and Community Protection Act.  The
City supports the extension of the ICAP abatement available to peaking
units to protect its residents and businesses from unnecessary and
burdensome increases in their electric bills.

The precise increase in electric rates as a result of eliminating this
property tax abatement cannot be determined at this time.  Nevertheless.
failure to extend the abatement could unnecessarily cost New York City

residents and businesses hundreds of millions of dollars each year over
the next four years.

Accordingly. the Mayor urges the earliest possible favorable consider-
ation of this proposal by the Legislature.

2023-S9822 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9822
 
                             I N  S E N A T E
 
                               June 2, 2024
                                ___________
 
 Introduced  by Sen. SEPULVEDA -- (at request of the NYC Finance) -- read
   twice and ordered printed, and when printed to  be  committed  to  the
   Committee on Rules
 
 AN ACT to amend the real property tax law and the administrative code of
   the  city  of New York, in relation to extending the application dead-
   lines for tax abatements for certain industrial and commercial proper-
   ties in a city of one million or more persons
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (a) of subdivision 1 of section 489-dddddd of the
 real  property tax law, as amended by section 3 of part SS of chapter 56
 of the laws of 2020, is amended to read as follows:
   (a) Application for benefits pursuant to this title may be made  imme-
 diately  following the effective date of a local law enacted pursuant to
 this title and continuing until March first, two thousand  [twenty-five]
 TWENTY-NINE.
   § 2. Subdivision 3 of section 489-dddddd of the real property tax law,
 as amended by section 4 of part SS of chapter 56 of the laws of 2020, is
 amended to read as follows:
   3.  (a)  No  benefits  pursuant  to  this  title  shall be granted for
 construction work performed pursuant to a building permit  issued  after
 April first, two thousand [twenty-five] TWENTY-NINE.
   (b)  If  no building permit was required, then no benefits pursuant to
 this title shall be granted for  construction  work  that  is  commenced
 after April first, two thousand [twenty-five] TWENTY-NINE.
   § 3. Paragraph 1 of subdivision a of section 11-271 of the administra-
 tive code of the city of New York, as amended by section 8 of part SS of
 chapter 56 of the laws of 2020, is amended to read as follows:
   (1)  Application  for benefits pursuant to this part may be made imme-
 diately following the effective date of the local law  that  added  this
 section  and  continuing  until  March first, two thousand [twenty-five]
 TWENTY-NINE.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD15828-01-4
 S. 9822                             2

 
   § 4. Subdivision c of section 11-271 of the administrative code of the
 city of New York, as amended by section 9 of part SS of  chapter  56  of
 the laws of 2020, is amended to read as follows:
   c.  (1)  No  benefits  pursuant  to  this  part  shall  be granted for
 construction work performed pursuant to a building permit  issued  after
 April first, two thousand [twenty-five] TWENTY-NINE.
   (2)  If  no building permit was required, then no benefits pursuant to
 this part shall be granted for construction work that is commenced after
 April first, two thousand [twenty-five] TWENTY-NINE.
   § 5. This act shall take effect immediately.

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