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Senate Bill S10300

2025-2026 Legislative Session

Reduces certain commercial rent taxes for premises occupied by certain retail and food services businesses located in the borough of Manhattan south of the center line of ninety-sixth street

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Current Bill Status - In Senate Committee Cities 1 Committee

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2025-S10300 (ACTIVE) - Details

See Assembly Version of this Bill:
A6580
Current Committee:
Senate Cities 1
Law Section:
New York City Administrative Code
Laws Affected:
Amd §11-704, NYC Ad Cd
Versions Introduced in 2023-2024 Legislative Session:
S6555

2025-S10300 (ACTIVE) - Summary

Reduces certain commercial rent taxes for premises occupied by certain retail or food services businesses having a base rent of less than one million dollars per year and located in the borough of Manhattan south of the center line of ninety-sixth street.

2025-S10300 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10300
 
                             I N  S E N A T E
 
                               May 12, 2026
                                ___________
 
 Introduced  by  Sens.  BOTTCHER,  SCARCELLA-SPANTON  --  read  twice and
   ordered printed, and when printed to be committed to the Committee  on
   Cities 1
 
 AN  ACT  to  amend  the  administrative code of the city of New York, in
   relation to reducing certain commercial rent taxes for premises  occu-
   pied by certain retail and food services businesses

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph 2 of subdivision  h  of  section  11-704  of  the
 administrative  code  of  the  city of New York, as amended by local law
 number 63 for the year 1997, is amended to read as follows:
   (2) In the case of any taxable premises  located  in  the  borough  of
 Manhattan south of the center line of ninety-sixth street, the base rent
 for such premises shall be reduced by (i) fifteen percent for the period
 beginning  March first, nineteen hundred ninety-six and ending May thir-
 ty-first, nineteen hundred ninety-six, (ii) twenty-five percent for  the
 period  beginning  June  first,  nineteen  hundred ninety-six and ending
 August thirty-first, nineteen hundred ninety-eight,  and  (iii)  thirty-
 five  percent  for  periods  beginning September first, nineteen hundred
 ninety-eight and thereafter, such reduction to be made after  all  other
 exemptions  and  deductions  authorized by this chapter have been taken,
 EXCEPT THAT THE BASE RENT FOR A TAXABLE PREMISES WHICH IS OCCUPIED BY  A
 RETAIL  BUSINESS  OR FOOD SERVICES BUSINESS WITH AN ANNUALIZED BASE RENT
 OF LESS THAN ONE  MILLION  DOLLARS  SHALL  BE  REDUCED  BY  ONE  HUNDRED
 PERCENT.
   §  2.  This act shall take effect on the first of July next succeeding
 the date on which it shall have become a law.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01957-01-5

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