New York State Assembly

 
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A08651 Summary:

A08651 Actions:

A08651 Committee Votes:

Committee:WAYS AND MEANS   Chair:Pretlow      
DATE:06/06/2025AYE/NAY:35/0  Action: Favorable refer to committee Rules        
Pretlow
Aye
Ra
Aye
Jackson
Aye
Fitzpatrick
Aye
Colton
Aye
Hawley
Aye
Cook
Aye
Blankenbush
Aye
Benedetto
Aye
Palmesano
Aye
Weprin
Aye
Walsh
Aye
Anderson
Aye
DeStefano
Aye
Braunstein
Aye
Manktelow
Aye
McDonald
Aye
Smullen
Aye
Rozic
Aye
Giglio
Aye
Dinowitz
Aye
Lavine
Aye
Bronson
Aye
Dilan
Aye
Seawright
Aye
Hyndman
Aye
Walker
Aye
Wright
Aye
Simon
Aye
Cruz
Aye
Otis
Aye
Solages
Aye
Hunter
Aye
Epstein
Aye
Septimo
Aye

Committee:RULES   Chair:Glick      
DATE:06/09/2025AYE/NAY:25/0  Action: Favorable         
Heastie
Excused
Barclay
Aye
Pretlow
Aye
Hawley
Aye
Cook
Aye
Blankenbush
Aye
Glick
Aye
Ra
Aye
Dinowitz
Aye
Brabenec
Aye
Colton
Aye
Palmesano
Aye
Magnarelli
Excused
Reilly
Excused
Paulin
Aye
Smith
Aye
Peoples-Stokes
Aye
Jensen
Aye
Benedetto
Aye
Lavine
Aye
Lupardo
Aye
Braunstein
Aye
Davila
Excused
Hyndman
Excused
Rozic
Aye
Bronson
Aye
Hevesi
Aye
Hunter
Aye
Taylor
Aye
Cruz
Aye
Vanel
Excused

A08651 Floor Votes:

A08651 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         8651--A
 
                               2025-2026 Regular Sessions
 
                   IN ASSEMBLY
 
                                      May 22, 2025
                                       ___________
 
        Introduced by M. of A. SIMONE -- read once and referred to the Committee
          on Housing -- committee discharged, bill amended, ordered reprinted as
          amended and recommitted to said committee
 
        AN  ACT  to  amend  the  private housing finance law, in relation to the
          amount of taxes paid by a cooperative

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Paragraph  (a-4)  of  subdivision 1 of section 125 of the
     2  private housing finance law, as added by chapter  531  of  the  laws  of
     3  2014, is amended to read as follows:
     4    (a-4)  Any  inconsistent  provision  of law notwithstanding, in a city
     5  having a population of one million or more, where  a  local  legislative
     6  body  has  acted  to  extend the tax exemption of a mutual redevelopment
     7  company for the maximum period provided for in paragraph (a-2)  of  this
     8  subdivision,  the  local  legislative  body  may grant an additional tax
     9  exemption for a period of up to fifty years, provided that the amount of
    10  taxes to be paid during any such period of tax exemption  shall  be  not
    11  less  than an amount equal to the [greater] lesser of (i) [ten] five per
    12  centum of the annual rent or carrying charges of the project minus util-
    13  ities for the residential portion of the  project,  or  (ii)  the  taxes
    14  payable  by  such  company  for  the  residential portion of the project
    15  during the tax year commencing July first, two thousand  and  ending  on
    16  June  thirtieth,  two  thousand  one.  Such  grant  of an additional tax
    17  exemption period shall take effect upon the expiration  of  the  maximum
    18  period provided for in paragraph (a-2) of this subdivision.
    19    § 2. This act shall take effect immediately.
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11932-07-5