New York State Assembly

Bill No.:  

 
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A01049 Summary:

BILL NO	A01049
SAME AS	SAME AS S02359
SPONSOR	Richardson
COSPNSR	Niou, Walker
MLTSPNSR
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.

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A01049 Actions:

BILL NO	A01049
01/10/2017	referred to real property taxation
01/03/2018	referred to real property taxation
05/31/2018	held for consideration in real property taxation

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A01049 Committee Votes:

Committee:REAL PROPERTY TAXATION   Chair:Galef      
DATE:05/31/2018AYE/NAY:9/0  Action: Held for Consideration         
Galef
Aye
Tague
Aye
McDonald
Aye
Miller
Aye
Pichardo
Aye
Dickens
Aye
Barnwell
Aye
Pellegrino
Aye
Rosenthal
Aye
Bohen
Excused

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A01049 Floor Votes:

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A01049 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1049
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 10, 2017
                                       ___________
 
        Introduced  by  M.  of  A.  RICHARDSON  -- read once and referred to the
          Committee on Real Property Taxation
 
        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:
 
     1    Section 1. There is hereby  established  a  demonstration  program  to
     2  extend  the  provisions  of the J-51 tax exemption to the conversion and
     3  rehabilitation of commercial and manufacturing space to co-located  work
     4  space  and  residential units in certain high density, underutilized M-1
     5  zoned properties in Kings county. For purposes of this section, J-51  is
     6  a  property  tax  exemption  and  abatement for renovating a residential
     7  apartment building in certain counties of the city  of  New  York.  Such
     8  credit  varies  depending  on  the  building's  location and the type of
     9  improvements and shall be extended to the county of Kings.
    10    § 2. This act shall take effect immediately and shall  expire  and  be
    11  deemed repealed five years after such effective date.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05597-01-7

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