New York State Assembly

Bill No.:  

 
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A01546 Summary:

BILL NO	A01546
SAME AS	No Same As
SPONSOR	Rosenthal L
COSPNSR
MLTSPNSR
Amd §421-a, RPT L
Requires affordable housing units that are subject to the provisions of the Affordable New York Housing Program to be subject to rent stabilization at the end of the tax abatement and extended affordability period; provides that units subject to tax exemptions or abatements pursuant to other laws be subject to rent stabilization at the expiration of such tax exemptions or abatements.

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A01546 Actions:

BILL NO	A01546
01/17/2023	referred to real property taxation
01/03/2024	referred to real property taxation

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A01546 Committee Votes:

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A01546 Floor Votes:

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A01546 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1546
 
                               2023-2024 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 17, 2023
                                       ___________
 
        Introduced  by  M.  of  A. L. ROSENTHAL -- read once and referred to the
          Committee on Real Property Taxation
 
        AN ACT to amend the real property tax  law,  in  relation  to  requiring
          certain affordable housing units to be subject to rent stabilization
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Paragraph (f) of subdivision 17 of  section  421-a  of  the
     2  real  property  tax  law is amended by adding a new subparagraph (ix) to
     3  read as follows:
     4    (ix) An affordable housing unit that is subject to a tax abatement and
     5  extended affordability period pursuant to the provisions of this section
     6  shall, upon the expiration of such tax abatement and  extended  afforda-
     7  bility  period,  be  subject to rent stabilization.   If such affordable
     8  housing unit receives benefits of tax exemption or tax  abatement  under
     9  the  provisions of any other law, such unit shall not be subject to rent
    10  stabilization until such tax exemption or tax abatement expires.
    11    § 2. This act shall take effect immediately.
 
 
 
 

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05773-01-3

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