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Assembly Bill A10999A

2025-2026 Legislative Session

Enacts the "teardown tax act"

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Bill Amendments

2025-A10999 - Details

See Senate Version of this Bill:
S9867
Current Committee:
Assembly Cities
Law Section:
New York City Administrative Code
Laws Affected:
Add §28-112.14, NYC Ad Cd

2025-A10999 - Summary

Enacts the "teardown tax act"; establishes a dwelling unit removal surcharge on the conversion of multiple dwelling units into single-family dwellings in the city of New York.

2025-A10999 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10999
 
                           I N  A S S E M B L Y
 
                              April 15, 2026
                                ___________
 
 Introduced by M. of A. LEE -- read once and referred to the Committee on
   Cities
 
 AN  ACT  to  amend  the  administrative code of the city of New York, in
   relation to enacting the "teardown tax act"
 
   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 "teardown tax act".
   § 2. The administrative code of the city of New  York  is  amended  by
 adding a new section 28-112.14 to read as follows:
   §  28-112.14  DWELLING  UNIT  REMOVAL SURCHARGE ON CERTAIN RESIDENTIAL
 PROPERTY. 1. A DWELLING UNIT REMOVAL SURCHARGE IS HEREBY IMPOSED ON  THE
 ISSUANCE  OF ANY PERMIT FOR DEMOLITION OR ALTERATION THAT REMOVES ONE OR
 MORE DWELLING UNITS FROM THE RESIDENTIAL HOUSING MARKET.  SUCH SURCHARGE
 SHALL BE TEN THOUSAND DOLLARS PER DWELLING UNIT REMOVED FROM  THE  RESI-
 DENTIAL HOUSING MARKET AS A RESULT OF SUCH DEMOLITION OR ALTERATION.
   2.  PRIOR  TO  ANY ISSUANCE OF A PERMIT FOR DEMOLITION OF ANY DWELLING
 UNIT, THE DEPARTMENT SHALL DETERMINE WHETHER THE  SURCHARGE  IMPOSED  BY
 SUBDIVISION  ONE OF THIS SECTION SHALL BE ASSESSED. WHERE THE DEPARTMENT
 DETERMINES THAT SUCH SURCHARGE SHALL BE ASSESSED,  THE  APPLICANT  SHALL
 PAY  TO  THE  DEPARTMENT  OF  FINANCE  AN  AMOUNT EQUAL TO THE SURCHARGE
 REQUIRED UNDER SUBDIVISION ONE OF THIS SECTION. NO PERMIT FOR DEMOLITION
 OF ANY DWELLING UNIT SUBJECT TO SUCH SURCHARGE SHALL BE  ISSUED  BY  THE
 DEPARTMENT  UNTIL:    (A)  THE  APPLICANT  FOR  SUCH PERMIT PROVIDES THE
 DEPARTMENT WITH A COPY OF THE RECEIPT OF PAYMENT ISSUED BY  THE  DEPART-
 MENT  OF  FINANCE SHOWING THAT SUCH SURCHARGE HAS BEEN PAID; AND (B) THE
 DEPARTMENT OF FINANCE PROVIDES WRITTEN NOTIFICATION OF SUCH FACT TO  THE
 DEPARTMENT.
   3.  PRIOR TO ANY ISSUANCE OF A PERMIT FOR THE ALTERATION OF ANY DWELL-
 ING UNIT, THE DEPARTMENT SHALL DETERMINE WHETHER THE PROPOSED ALTERATION
 WOULD RESULT IN THE REMOVAL OF A  DWELLING  UNIT  FROM  THE  RESIDENTIAL
 HOUSING  MARKET.  WHERE  THE  DEPARTMENT DETERMINES THAT SUCH ALTERATION
 WOULD RESULT IN THE REMOVAL OF A  DWELLING  UNIT  FROM  THE  RESIDENTIAL
 HOUSING  MARKET, THE SURCHARGE IMPOSED BY SUBDIVISION ONE SHALL APPLY TO
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

2025-A10999A (ACTIVE) - Details

See Senate Version of this Bill:
S9867
Current Committee:
Assembly Cities
Law Section:
New York City Administrative Code
Laws Affected:
Add §28-112.14, NYC Ad Cd

2025-A10999A (ACTIVE) - Summary

Enacts the "teardown tax act"; establishes a dwelling unit removal surcharge on the conversion of multiple dwelling units into single-family dwellings in the city of New York.

2025-A10999A (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                 10999--A
 
                           I N  A S S E M B L Y
 
                              April 15, 2026
                                ___________
 
 Introduced by M. of A. LEE -- read once and referred to the Committee on
   Cities  --  committee  discharged,  bill amended, ordered reprinted as
   amended and recommitted to said committee
 
 AN ACT to amend the administrative code of the  city  of  New  York,  in
   relation to enacting the "teardown tax act"
 
   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 "teardown tax act".
   §  2.  The  administrative  code of the city of New York is amended by
 adding a new section 28-112.14 to read as follows:
   § 28-112.14 DWELLING UNIT REMOVAL  SURCHARGE  ON  CERTAIN  RESIDENTIAL
 PROPERTY.  1.  A DWELLING UNIT REMOVAL SURCHARGE IS HEREBY IMPOSED PRIOR
 TO THE ISSUANCE OF ANY NEW OR AMENDED CERTIFICATE OF OCCUPANCY  FOR  ANY
 MULTIPLE  DWELLING  CONVERTED  INTO  A  SINGLE-FAMILY  DWELLING.    SUCH
 SURCHARGE SHALL  BE  FIFTY  THOUSAND  DOLLARS  FOR  EACH  DWELLING  UNIT
 LAWFULLY  EXISTING  IN  THE  MULTIPLE  DWELLING PRIOR TO THE CONVERSION,
 EXCLUDING THE SINGLE DWELLING UNIT AUTHORIZED FOLLOWING THE CONVERSION.
   2. PRIOR TO ANY ISSUANCE OF ANY NEW OR AMENDED CERTIFICATE OF OCCUPAN-
 CY, THE DEPARTMENT SHALL DETERMINE  WHETHER  THE  SURCHARGE  IMPOSED  BY
 SUBDIVISION  ONE OF THIS SECTION SHALL BE ASSESSED. WHERE THE DEPARTMENT
 DETERMINES THAT SUCH SURCHARGE SHALL BE ASSESSED,  THE  APPLICANT  SHALL
 PAY  TO  THE  DEPARTMENT  OF  FINANCE  AN  AMOUNT EQUAL TO THE SURCHARGE
 REQUIRED UNDER SUBDIVISION ONE  OF  THIS  SECTION.  NO  NEW  OR  AMENDED
 CERTIFICATE  OF OCCUPANCY OF ANY DWELLING UNIT SUBJECT TO SUCH SURCHARGE
 SHALL BE ISSUED BY THE DEPARTMENT UNTIL:   (A) THE  APPLICANT  FOR  SUCH
 PERMIT  PROVIDES  THE  DEPARTMENT  WITH A COPY OF THE RECEIPT OF PAYMENT
 ISSUED BY THE DEPARTMENT OF FINANCE SHOWING THAT SUCH SURCHARGE HAS BEEN
 PAID; AND (B) THE DEPARTMENT OF FINANCE PROVIDES WRITTEN NOTIFICATION OF
 SUCH FACT TO THE DEPARTMENT.
   3.  THE DEPARTMENT SHALL HAVE, IN ADDITION  TO  ANY  OTHER  FUNCTIONS,
 POWERS  AND DUTIES WHICH HAVE BEEN OR MAY BE CONFERRED ON IT BY LAW, THE
 POWER TO MAKE AND PROMULGATE RULES TO CARRY OUT  THE  PURPOSES  OF  THIS
 SECTION.    SUCH  RULES SHALL INCLUDE, BUT NOT BE LIMITED TO, PROCEDURES
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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