Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2025 |
referred to real property taxation |
Assembly Bill A50
2025-2026 Legislative Session
Sponsored By
CARROLL R
Archive: Last Bill Status - In Assembly 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
Actions
co-Sponsors
Jo Anne Simon
2025-A50 (ACTIVE) - Details
- Current Committee:
- Assembly Real Property Taxation
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd §467-m, RPT L
- Versions Introduced in 2023-2024 Legislative Session:
-
A10694
2025-A50 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 50 2025-2026 Regular Sessions I N A S S E M B L Y (PREFILED) January 8, 2025 ___________ Introduced by M. of A. R. CARROLL, SIMON -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to enacting the "New York city arts space act" THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Short title. This act shall be known and may be cited as the "New York city arts space act". § 2. Section 467-m of the real property tax law is amended by adding a new subdivision 4-a to read as follows: 4-A. AFFORDABLE ARTS SPACE BENEFITS AND REQUIREMENTS. A. FOR THE PURPOSES OF THIS SUBDIVISION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOW- ING MEANINGS: (I) "AFFORDABLE ARTS SPACE" SHALL MEAN A SPACE RENTED OR LEASED BY AN ELIGIBLE ARTS ORGANIZATION FOR USE AS STUDIO, REHEARSAL, PERFORMANCE SPACE, OR ARTS OR CULTURAL PROGRAMMING OPEN TO THE GENERAL PUBLIC IN AN ELIGIBLE MULTIPLE DWELLING; AND (II) "ELIGIBLE ARTS ORGANIZATION" SHALL MEAN A NONPROFIT ORGANIZATION EITHER INCORPORATED IN OR REGISTERED TO DO BUSINESS IN THE STATE OF NEW YORK OR AN ORGANIZATION LOCATED IN THE STATE OF NEW YORK AND RECOGNIZED AS TAX-EXEMPT UNDER SECTION 501 (C) (3) OF THE UNITED STATES INTERNAL REVENUE CODE. B. AN AFFORDABLE ARTS SPACE SHALL MEET THE FOLLOWING REQUIREMENTS: (I) HAVE A MINIMUM TWO PERCENT OF THE AGGREGATE FLOOR AREA IN ELIGIBLE MULTIPLE DWELLINGS AND UP TO FIFTY PERCENT OF SUCH SPACE MAY BE CELLAR SPACE AS DEFINED BY A CITY OF NEW YORK ZONING RESOLUTION; (II) WHEN AN ELIGIBLE ARTS ORGANIZATION SUBLEASES AN AFFORDABLE ARTS SPACE TO AN ORGANIZATION THAT IS NOT AN ELIGIBLE ARTS ORGANIZATION SUCH RENTS SHALL COMPLY WITH REQUIREMENTS OF THIS SUBDIVISION. SUCH NON-ELI- GIBLE ORGANIZATIONS SHALL BE EITHER INCORPORATED IN OR REGISTERED TO DO EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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