Senate Bill S6965

Signed By Governor
2023-2024 Legislative Session

Relates to applicants eligible for a rent increase exemption order and abatement of taxes pursuant to certain local law, ordinance or resolution in a city with a population of one million or more

download bill text pdf

Sponsored By

Current Bill Status Via A7394 - Signed by Governor

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-S6965 (ACTIVE) - Details

See Assembly Version of this Bill:
A7394
Law Section:
Real Property Tax Law
Laws Affected:
Amd §467-c, RPT L

2023-S6965 (ACTIVE) - Summary

Relates to applicants eligible for a rent increase exemption order and abatement of taxes pursuant to certain local law, ordinance or resolution in a city with a population of one million or more; provides that such applicants shall be those found eligible before 03/31/2024.

2023-S6965 (ACTIVE) - Sponsor Memo

2023-S6965 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6965
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               May 16, 2023
                                ___________
 
 Introduced  by Sen. KAVANAGH -- read twice and ordered printed, and when
   printed to be committed to the Committee on Cities 1
 
 AN ACT to amend the real property tax law,  in  relation  to  applicants
   eligible  for  a  rent increase exemption order and abatement of taxes
   pursuant to certain local law, ordinance or resolution in a city  with
   a population of one million or more
 
   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  amended by chapter 687 of the laws of 2022, 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 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] ON OR BEFORE MARCH THIRTY-FIRST, TWO THOUSAND TWENTY-FOUR.
   § 2. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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