New York A 10999: Enacts the "teardown tax act"

Bill Text

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A10999 Summary:

BILL NOA10999A

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SAME ASSAME AS S09867-B

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SPONSORLee

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COSPNSR

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MLTSPNSR

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Add §28-112.14, NYC Ad Cd

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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.

Go to top A10999 Actions:

BILL NOA10999A

&nbsp

04/15/2026referred to cities

05/12/2026amend and recommit to cities

05/12/2026print number 10999a

Go to topA10999 Committee&nbspVotes:

Go to topA10999 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA10999 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 10999--A

 IN ASSEMBLY

 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:

 1 Section 1. Short title. This act shall be known and may be cited as
 2 the "teardown tax act".
 3 § 2. The administrative code of the city of New York is amended by
 4 adding a new section 28-112.14 to read as follows:
 5 § 28-112.14 Dwelling unit removal surcharge on certain residential
 6 property. 1. A dwelling unit removal surcharge is hereby imposed prior
 7 to the issuance of any new or amended certificate of occupancy for any
 8 multiple dwelling converted into a single-family dwelling. Such
 9 surcharge shall be fifty thousand dollars for each dwelling unit
 10 lawfully existing in the multiple dwelling prior to the conversion,
 11 excluding the single dwelling unit authorized following the conversion.
 12 2. Prior to any issuance of any new or amended certificate of occupan-
 13 cy, the department shall determine whether the surcharge imposed by
 14 subdivision one of this section shall be assessed. Where the department
 15 determines that such surcharge shall be assessed, the applicant shall
 16 pay to the department of finance an amount equal to the surcharge
 17 required under subdivision one of this section. No new or amended
 18 certificate of occupancy of any dwelling unit subject to such surcharge
 19 shall be issued by the department until: (a) the applicant for such
 20 permit provides the department with a copy of the receipt of payment
 21 issued by the department of finance showing that such surcharge has been
 22 paid; and (b) the department of finance provides written notification of
 23 such fact to the department.
 24 3. The department shall have, in addition to any other functions,
 25 powers and duties which have been or may be conferred on it by law, the
 26 power to make and promulgate rules to carry out the purposes of this
 27 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.
 LBD15389-11-6

 A. 10999--A 2

 1 for the department to (a) make a determination as to whether a proposed
 2 demolition or alteration will result in the conversion of a multiple
 3 dwelling into a single-family dwelling and (b) require that the approval
 4 of any new or amended certificate of occupancy be conditioned upon the
 5 payment of the surcharge if such proposed demolition or alteration would
 6 result in such loss.
 7 4. All revenues generated by the surcharge shall be transferred to the
 8 landmarks preservation commission, established under chapter three of
 9 title twenty-five of this code, for the purpose of administering grants
 10 under such commission's historic preservation grant program.
 11 5. Definitions. For the purposes of this section, the following terms
 12 shall have the following meanings:
 13 (a) The terms "dwelling unit removal surcharge" or "surcharge" shall
 14 mean the dwelling unit removal permit surcharge established under subdi-
 15 vision one of this section.
 16 (b) The term "dwelling unit" shall have the same meaning as such term
 17 is defined by section 27-2004 of this code.
 18 § 3. This act shall take effect on the ni