S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10508
 
                           I N  A S S E M B L Y
 
                               May 31, 2022
                                ___________
 
 Introduced  by  COMMITTEE  ON RULES -- (at request of M. of A. Glick) --
   read once and referred to the Committee on Real Property Taxation
 
 AN ACT to amend the real property tax law, in  relation  to  authorizing
   tax abatements for certain properties containing dwelling units
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subdivision 13 of section 467-c of  the  real property  tax
 law, as added by a chapter of the laws of 2022 amending the real proper-
 ty tax law relating to authorizing  tax abatements for  certain  proper-
 ties containing dwelling units, as proposed in legislative bills numbers
 S. 6903 and A. 7986, is amended to read as follows:
   13. In a city with a population of one million or more, any such local
 law,  ordinance  or resolution may provide for A RENT INCREASE EXEMPTION
 ORDER AND the abatement of taxes of such city imposed on  real  property
 formerly  subject to the provisions of Article II of the private housing
 finance law PRIOR TO THE EFFECTIVE DATE OF THE CHAPTER OF  THE  LAWS  OF
 TWO  THOUSAND TWENTY-TWO THAT ADDED THIS SUBDIVISION containing dwelling
 units that are subject to a regulatory agreement [with a federal, state,
 or local governmental entity or instrumentality] in which the qualifying
 head of household or their qualifying successor in interest: (a)  has  a
 signed  agreement  with  the landlord to limit increases in maximum rent
 for the lifetime of the tenancy to an amount  established  by  the  rent
 guidelines board in its annual guidelines for rent adjustments for hous-
 ing  accommodations  subject  to  the emergency tenant protection act of
 nineteen seventy-four or the administrative code of the city of New York
 or to another amount provided for in such regulatory agreement; and  (b)
 is otherwise eligible for such tax abatement.  ANY SUCH LOCAL LAW, ORDI-
 NANCE,  OR  RESOLUTION  MAY  PROVIDE  THAT  THE EFFECTIVE DATE OF A RENT
 INCREASE EXEMPTION ORDER/TAX ABATEMENT CERTIFICATE SHALL BE MAY  THIRTY-
 FIRST,  TWO  THOUSAND TWENTY-TWO FOR ANY APPLICANT FOUND ELIGIBLE WITHIN
 ONE HUNDRED EIGHTY DAYS OF THE DATE THE PROVISIONS OF  THIS  SUBDIVISION
 TAKE EFFECT.
   §  2.  This  act  shall  take  effect on the same date and in the same
 manner as a chapter  of  the  laws  of  2022  amending the real property
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD11609-03-2
 A. 10508                            2
 
 tax law relating  to  authorizing  tax abatements for certain properties
 containing dwelling units, as proposed in legislative bills  numbers  S.
 6903 and A. 7986,  takes effect.