S T A T E O F N E W Y O R K
________________________________________________________________________
9129
I N A S S E M B L Y
January 31, 2022
___________
Introduced by M. of A. BRAUNSTEIN -- read once and referred to the
Committee on Real Property Taxation
AN ACT to amend the real property tax law, in relation to providing an
extension of time to complete construction for certain building
projects due to the COVID-19 pandemic
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 2 of section 489-cccccc of the real property
tax law, as added by chapter 119 of the laws of 2008, is amended to read
as follows:
2. Time limit for completion of construction. (A) Construction of
buildings or structures for which benefits have been approved shall be
completed no later than five years from the date of issuance of the
first building permit, or if no permit was required, the commencement of
construction. Failure to meet this requirement shall result in termi-
nation of any inflation protection provided under subdivision three of
section four hundred eighty-nine-bbbbbb of this title for any tax year
that begins following the date by which completion of construction is
required under this paragraph.
(B) (I) NOTWITHSTANDING THE PROVISIONS OF PARAGRAPH (A) OF THIS SUBDI-
VISION, AN ADDITIONAL TWENTY-SEVEN MONTH EXTENSION SHALL BE PROVIDED FOR
ALL PROJECTS WHERE SUCH FIVE YEAR PERIOD WOULD HAVE TERMINATED BETWEEN
MARCH SEVENTH, TWO THOUSAND TWENTY AND JUNE TWENTY-FIFTH, TWO THOUSAND
TWENTY-ONE, TO PROVIDE RELIEF FOR (A) THE FIFTEEN-MONTH PERIOD DURING
WHICH A STATE DISASTER EMERGENCY WAS DECLARED BY THE GOVERNOR PURSUANT
TO EXECUTIVE ORDER TWO HUNDRED TWO OF TWO THOUSAND TWENTY IN RESPONSE TO
THE COVID-19 PANDEMIC AND THE ISSUANCE BY THE GOVERNOR OF EXECUTIVE
ORDER TWO HUNDRED TEN OF TWO THOUSAND TWENTY-ONE WHICH RESCINDED ALL
PREVIOUS PANDEMIC RELATED EXECUTIVE ORDERS AND LIFTED SUCH STATE OF
EMERGENCY, PLUS (B) AN ADDITIONAL TWELVE MONTHS FOR PROJECTS TO COMPLETE
CONSTRUCTION AFTER THE EXPIRATION OF SUCH EXECUTIVE ORDERS.
(II) FOR SUCH PROJECTS, THE AMOUNT OF ABATEMENT SHALL BE CALCULATED AS
PROVIDED HEREIN. THE FIRST YEAR OF THE ABATEMENT SHALL BE THE TAX YEAR
WITH THE FIRST TAXABLE STATUS DATE THAT FOLLOWS THE SOONER OF (A) THE
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD13065-01-1
A. 9129 2
COMPLETION OF CONSTRUCTION, OR (B) FOUR YEARS FROM THE DATE THE FIRST
BUILDING PERMIT WAS ISSUED, OR IF NO PERMIT WAS REQUIRED, THE COMMENCE-
MENT OF CONSTRUCTION. IN THE EVENT THAT THE FIRST YEAR OF THE ABATEMENT
OCCURRED PRIOR TO THE CURRENT TAX YEAR, THE PROPERTY OWNER SHALL BE
ENTITLED TO A REFUND OF THE AMOUNT OF THE ABATEMENT FOR ANY YEAR OCCUR-
RING AFTER THE ABATEMENT COMMENCED.
§ 2. This act shall take effect immediately.