STATE OF NEW YORK
________________________________________________________________________
8170
2025-2026 Regular Sessions
IN SENATE
May 16, 2025
___________
Introduced by Sen. KAVANAGH -- read twice and ordered printed, and when
printed to be committed to the Committee on Housing, Construction and
Community Development
AN ACT to amend the real property tax law, in relation to extending
certain deadlines related to a tax abatement for certain alterations
and improvements to multiple dwellings
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Clause (C) of subparagraph 10 of paragraph (a) and the
2 opening paragraph of paragraph (b) of subdivision 21 of section 489 of
3 the real property tax law, as added by chapter 536 of the laws of 2023,
4 are amended to read as follows:
5 (C) have a completion date that is after June twenty-ninth, two thou-
6 sand twenty-two and prior to June thirtieth, two thousand [twenty-six]
7 thirty and that is not more than thirty months after their commencement
8 date; and
9 Abatement. Notwithstanding the provisions of any other subdivision of
10 this section or of any general, special or local law to the contrary,
11 any city to which the multiple dwelling law is applicable, acting
12 through its local legislative body or other governing agency, is hereby
13 authorized and empowered, until and including June thirtieth, two thou-
14 sand [twenty-five] twenty-six, to adopt and amend local laws or ordi-
15 nances allowing for an abatement of real property taxes on an eligible
16 building in which eligible construction has been completed, provided
17 that:
18 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD13158-01-5
