Senate Bill S7685

2025-2026 Legislative Session

Relates to increasing the amount of the childcare center tax abatement for certain properties in a city having a population of one million or more

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Sponsored By

Current Bill Status - Passed Senate & Assembly


  • 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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2025-S7685 (ACTIVE) - Details

See Assembly Version of this Bill:
A8028
Law Section:
Real Property Tax Law
Laws Affected:
Amd §§499-bbbbb & 499-ccccc, RPT L

2025-S7685 (ACTIVE) - Summary

Relates to increasing the amount of the childcare center tax abatement for certain properties in a city having a population of one million or more for abatements taken in a tax year commencing on or after July first, two thousand twenty-five; provides that no such childcare center tax abatement shall be authorized for any tax year commencing on or after July first, two thousand thirty-two; extends the deadline for application for such childcare center tax abatement to March fifteenth, two thousand twenty-seven.

2025-S7685 (ACTIVE) - Sponsor Memo

2025-S7685 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7685
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                              April 29, 2025
                                ___________
 
 Introduced  by  Sen. PERSAUD -- 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 increasing the
   amount of the childcare center tax abatement for certain properties in
   a city having 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.  Paragraphs  (a),  (b) and (c) of subdivision 2 of section
 499-bbbbb of the real property tax law, as added by section 1 of part HH
 of chapter 59 of the laws of 2022, are amended to read as follows:
   (a) (I) Beginning in the tax year commencing on or after  July  first,
 two  thousand twenty-three, the amount of such tax abatement provided to
 an eligible building described in subdivision one of this section  shall
 be  equal  to the costs incurred in the construction, conversion, alter-
 ation or improvement that has resulted in the creation of a premises  of
 a  childcare  center or in an increase in the maximum number of children
 allowed on the premises of an existing childcare center,  provided  that
 such costs are certified in accordance with paragraph (d) of subdivision
 two  of  section  four  hundred  ninety-nine-ccccc  of  this  title, and
 provided further that, during the abatement period[,]: (A) the amount of
 such abatement shall not exceed thirty-five dollars for each square foot
 of the premises, nor exceed one hundred  thousand  dollars,  FOR  A  TAX
 ABATEMENT  INITIALLY TAKEN IN A TAX YEAR COMMENCING PRIOR TO JULY FIRST,
 TWO THOUSAND TWENTY-FIVE; AND (B) THE AMOUNT OF SUCH ABATEMENT SHALL NOT
 EXCEED THIRTY-FIVE DOLLARS FOR EACH SQUARE FOOT  OF  THE  PREMISES,  NOR
 EXCEED  THREE  HUNDRED  FIFTY  THOUSAND  DOLLARS,  FOR  A  TAX ABATEMENT
 INITIALLY TAKEN IN A TAX YEAR COMMENCING ON OR  AFTER  JULY  FIRST,  TWO
 THOUSAND TWENTY-FIVE.
   [(i)]  (II)  For  any  tax year, such abatement shall not exceed seven
 dollars for each square foot of the premises, provided that such  amount
 may  be reduced as a result of an allocation of available funds for such
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11224-01-5
              

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