Assembly Bill A889

2023-2024 Legislative Session

Relates to establishing a property tax credit for class 2 cooperative and condominium buildings that are designated safe after a facade safety program inspection

download bill text pdf

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Current 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

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2023-A889 (ACTIVE) - Details

Current Committee:
Assembly Real Property Taxation
Law Section:
New York City Administrative Code
Laws Affected:
Add §11-242.1, NYC Ad Cd
Versions Introduced in Other Legislative Sessions:
2015-2016: A5255
2017-2018: A1357
2019-2020: A578
2021-2022: A513

2023-A889 (ACTIVE) - Summary

Relates to establishing a property tax credit for class 2 cooperative and condominium buildings that are designated safe after a facade safety program inspection.

2023-A889 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    889
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 11, 2023
                                ___________
 
 Introduced  by  M.  of  A.  BRAUNSTEIN  -- read once and referred to the
   Committee on Real Property Taxation
 
 AN ACT to amend the administrative code of the  city  of  New  York,  in
   relation to establishing a property tax credit for class 2 cooperative
   and  condominium  buildings  that  are  designated safe after a facade
   safety program inspection

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. The administrative code of the city of New York is amended
 by adding a new section 11-242.1 to read as follows:
   §  11-242.1  EXEMPTION  FOR  BUILDINGS  DESIGNATED  SAFE   BY   FACADE
 INSPECTION SAFETY PROGRAM. A. AS USED IN THIS SECTION, "ELIGIBLE PROPER-
 TY"  SHALL MEAN ANY CLASS TWO COOPERATIVE AND/OR CONDOMINIUM BUILDING AS
 DEFINED BY SECTION EIGHTEEN HUNDRED TWO OF THE REAL  PROPERTY  TAX  LAW,
 THAT  HAS  BEEN DESIGNATED SAFE AFTER A FACADE SAFETY PROGRAM INSPECTION
 PURSUANT TO ARTICLE THREE HUNDRED TWO OF CHAPTER THREE OF TITLE  TWENTY-
 EIGHT OF THIS CODE.
   B.  THE  TAXES UPON ANY ELIGIBLE PROPERTY, SHALL BE ABATED AND REDUCED
 BY AN AMOUNT EQUAL TO ALL COSTS OF SUCH INSPECTION PURSUANT  TO  ARTICLE
 THREE HUNDRED TWO OF CHAPTER THREE OF TITLE TWENTY-EIGHT OF THIS CODE.
   C. SUCH ABATEMENT AS DESCRIBED IN SUBDIVISION B OF THIS SECTION, SHALL
 BE  REEVALUATED  EVERY  FIVE  YEARS  AFTER  SUCH INSPECTION IS PERFORMED
 PURSUANT TO ARTICLE THREE HUNDRED TWO OF CHAPTER THREE OF TITLE  TWENTY-
 EIGHT OF THIS CODE.
   § 2. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01212-01-3

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