New York A 50: Requires automobile manufacturers to provide the original purchaser or lessee with information that would extend coverage beyond the original warranty expiration

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A00050 Summary:

BILL NOA00050 

&nbsp

SAME ASSAME AS S01077

&nbsp

SPONSORCarroll R

&nbsp

COSPNSRSimon, Shrestha, Glick, Kim, Powers

&nbsp

MLTSPNSR

&nbsp

Amd §467-m, RPT L

&nbsp

Enacts the New York city arts space act which provides tax benefits for eligible arts spaces.

Go to top A00050 Actions:

BILL NOA00050 

&nbsp

01/08/2025referred to real property taxation

01/07/2026referred to real property taxation

Go to topA00050 Committee&nbspVotes:

Go to topA00050 Floor&nbspVotes:

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

Go to topA00050 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 50

 2025-2026 Regular Sessions

 IN ASSEMBLY

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by M. of A. R. CARROLL, SIMON -- read once and referred to
 the Committee on Real Property Taxation

 AN ACT to amend the real property tax law, in relation to enacting the
 "New York city arts space 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 "New York city arts space act".
 3 § 2. Section 467-m of the real property tax law is amended by adding a
 4 new subdivision 4-a to read as follows:
 5 4-a. Affordable arts space benefits and requirements. a. For the
 6 purposes of this subdivision, the following terms shall have the follow-
 7 ing meanings:
 8 (i) "Affordable arts space" shall mean a space rented or leased by an
 9 eligible arts organization for use as studio, rehearsal, performance
 10 space, or arts or cultural programming open to the general public in an
 11 eligible multiple dwelling; and
 12 (ii) "Eligible arts organization" shall mean a nonprofit organization
 13 either incorporated in or registered to do business in the state of New
 14 York or an organization located in the state of New York and recognized
 15 as tax-exempt under section 501 (c) (3) of the United States internal
 16 revenue code.
 17 b. An affordable arts space shall meet the following requirements:
 18 (i) have a minimum two percent of the aggregate floor area in eligible
 19 multiple dwellings and up to fifty percent of such space may be cellar
 20 space as defined by a city of New York zoning resolution;
 21 (ii) when an eligible arts organization subleases an affordable arts
 22 space to an organization that is not an eligible arts organization such
 23 rents shall comply with requirements of this subdivision. Such non-eli-
 24 gible organizations shall be either incorporated in or registered to do

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00495-01-5

 A. 50 2

 1 business and such non-eligible organizations shall be located in the
 2 state of New York;
 3 (iii) be rented at a rate of no more than twenty dollars per square
 4 foot per year and the base rent shall be adjusted at a rate not to
 5 exceed three percent per year for the term of the arts space restriction
 6 period;
 7 (iv) the owner of an eligible building prior to entering into a lease
 8 or rental agreement with an eligible arts organization shall ensure that
 9 such affordable arts space meets the conditions necessary to receive a
 10 temporary certificate of occupancy as defined in the administrative code
 11 of the city of New York;
 12 (v) if the term of the lease or rental agreement entered into by the
 13 property owner and an eligible arts organization is less than the bene-
 14 fit period, the base rent for the subsequent tenant shall be equivalent
 15 to the base rent of the initial tenant as adjusted annually from the
 16 start date of the initial lease at a rate of no more than three percent
 17 per year; and
 18 (vi) any lease or rental agreement entered into by the property owner
 19 of an eligible building and an eligible arts organization in addition to
 20 being subject to the requirements of this subdivision shall be subject
 21 to any other laws, rules, and regulations of the city of New York.
 22 c. An affordable arts space shall be entitled to the following bene-
 23 fits:
 24 (i) for eligible buildings with rental agreements entered into with
 25 eligible arts organizations, for every one dollar per square foot per
 2