Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Jan 05, 2022 | referred to real property taxation |
Jan 19, 2021 | referred to real property taxation |
Current Bill Status - In Assembly Committee
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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Actions
Co-Sponsors
Nily Rozic
Mathylde Frontus
Jo Anne Simon
A2380 (ACTIVE) - Details
A2380 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2380 2021-2022 Regular Sessions I N A S S E M B L Y January 19, 2021 ___________ Introduced by M. of A. NIOU, ROZIC, FRONTUS, SIMON -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to establishing the COVID-19 small business recovery lease act of 2021; and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Short title. This act shall be known and may be cited as the "COVID-19 small business recovery lease act of 2021". § 2. Article 4 of the real property tax law is amended by adding a new title 6 to read as follows: TITLE 6 AUTHORIZATION OF REAL PROPERTY TAX ABATEMENT FOR CERTAIN PROPERTIES ENTERING INTO COVID-19 RECOVERY LEASES SECTION 499-AAAAA. DEFINITIONS. 499-BBBBB. REAL PROPERTY TAX ABATEMENT. § 499-AAAAA. DEFINITIONS. FOR THE PURPOSE OF THIS TITLE: 1. "ELIGIBLE COMMERCIAL TENANT" SHALL MEAN A SMALL BUSINESS, AS DEFINED BY SECTION ONE HUNDRED THIRTY-ONE OF THE ECONOMIC DEVELOPMENT LAW, THAT ENTERS INTO OR SEEKS TO ENTER INTO A COVID-19 RECOVERY LEASE FOR PROPERTY SUCH TENANT CURRENTLY OCCUPIES, OR FOR PROPERTY THAT IS VACANT FOR REASONS OTHER THAN EVICTION. 2. "COVID-19 RECOVERY LEASE" SHALL MEAN A COMMERCIAL LEASE AGREEMENT THAT: (A) IS ENTERED INTO WITHIN TWO YEARS OF THE EFFECTIVE DATE OF THIS TITLE BETWEEN AN ELIGIBLE COMMERCIAL TENANT AND A PROPERTY OWNER, WHERE EITHER THE ELIGIBLE COMMERCIAL TENANT OR THE PROPERTY OWNER HAS SUFFERED A FINANCIAL HARDSHIP DURING THE COVID-19 COVERED PERIOD, OR BOTH HAVE SUFFERED SUCH A HARDSHIP; (B) HAS A TERM OF NOT LESS THAN TEN YEARS; (C) PROVIDES FOR ANNUAL RENT INCREASES DURING A TERM OF NOT LESS THAN AT LEAST TEN YEARS THAT DO NOT EXCEED THE AMOUNTS PERMITTED PURSUANT TO A LOCAL LAW ENACTED FOR THE PURPOSE OF SETTING SUCH MAXIMUM INCREASES; (D) EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.