New York S 4298: Relates to a minority and women-owned business enterprise participation goal requirement in order to receive exemption of new multiple dwellings from local taxation

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S04298 Summary:

BILL NOS04298 

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SAME ASSAME AS A07106

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SPONSORPARKER

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COSPNSRBAILEY, SEPULVEDA

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MLTSPNSR

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Amd §421-a, RPT L

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Relates to a minority and women-owned business enterprise participation goal requirement in order to receive exemption of new multiple dwellings from local taxation.

Go to top S04298 Actions:

BILL NOS04298 

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02/03/2025REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

01/07/2026REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

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Go to topS04298 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4298

 2025-2026 Regular Sessions

 IN SENATE

 February 3, 2025
 ___________

 Introduced by Sens. PARKER, BAILEY, SEPULVEDA -- read twice and ordered
 printed, and when printed to be committed to the Committee on Housing,
 Construction and Community Development

 AN ACT to amend the real property tax law, in relation to a minority and
 women-owned business enterprise participation goal requirement in
 order to receive exemption of new multiple dwellings from local taxa-
 tion for the purpose of fixing economic disparity

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivision 2 of section 421-a of the real property tax law
 2 is amended by adding a new closing paragraph to read as follows:
 3 Any new multiple dwelling otherwise eligible for an exemption from
 4 taxation under this section must also be in compliance with the goals
 5 for minority and women-owned business enterprise participation pursuant
 6 to sections three hundred twelve and three hundred thirteen of the exec-
 7 utive law. Nothing in this section shall supersede an applicant's abili-
 8 ty to use a waiver as prescribed by such sections.
 9 § 2. The opening paragraph of paragraph a of subdivision 3 of section
 10 421-a of the real property tax law, as amended by section 63-g of part A
 11 of chapter 20 of the laws of 2015, is amended to read as follows:
 12 Application forms for exemption under this section shall be filed with
 13 the assessors between February first and March fifteenth and, based on
 14 the certification of the local housing agency as herein provided, the
 15 assessors shall certify to the collecting officer the amount of taxes to
 16 be abated. If there be in a city of one million population or more a
 17 department of housing preservation and development, the term "housing
 18 agency" shall mean only such department of housing preservation and
 19 development. No such application shall be accepted by the assessors
 20 unless accompanied by a certificate of the local housing agency certify-
 21 ing the applicant's eligibility pursuant to subdivisions two and four of
 22 this section. No such certification of eligibility shall be issued by

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08016-01-5

 S. 4298 2

 1 the local housing agency until such agency determines whether the appli-
 2 cant is in full compliance with the provisions of sections three hundred
 3 twelve and three hundred thirteen of the executive law, and the initial
 4 adjusted monthly rent to be paid by tenants residing in rental dwelling
 5 units contained within the multiple dwelling and the comparative
 6 adjusted monthly rent that would have to be paid by such tenants if no
 7 tax exemption were applicable as provided by this section. The initial
 8 adjusted monthly rent will be certified by the local housing agency as
 9 the first rent for the subject dwelling units. A copy of such certif-
 10 ication with respect to such units shall be attached by the applicant to
 11 the first effective lease or occupancy agreement. The initial adjusted
 12 monthly rent shall reflect the full tax exemption benefits as approved
 13 by the agency.
 14 § 3. This act shall take effect immediately.

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