New York S 1091: Authorizes a municipality to increase the number of years of service that a participant in a defined contribution plan or defined benefit plan service award program may receive a contribution

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S01091 Summary:

BILL NOS01091 

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SAME ASNo Same As

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SPONSORRAMOS

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COSPNSR

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MLTSPNSR

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Add Art 4 Title 7 §§499-aaaaaa - 499-hhhhhh, RPT L

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Establishes a rent increase exemption for certain nonprofit organizations; provides a tax abatement for limiting rent increases on nonprofit organizations in a city of one million or more persons.

Go to top S01091 Actions:

BILL NOS01091 

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01/08/2025REFERRED TO CITIES 1

01/07/2026REFERRED TO CITIES 1

Go to topS01091 Committee&nbspVotes:

Go to topS01091 Floor&nbspVotes:

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

Go to topS01091 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1091

 2025-2026 Regular Sessions

 IN SENATE

 January 8, 2025
 ___________

 Introduced by Sen. RAMOS -- 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 establishing a
 nonprofit organization rent increase exemption

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

 1 Section 1. Article 4 of the real property tax law is amended by adding
 2 a new title 7 to read as follows:
 3 TITLE 7
 4 TAX ABATEMENT FOR LIMITING RENT INCREASES ON
 5 NONPROFIT ORGANIZATIONS IN A CITY OF ONE MILLION OR MORE PERSONS
 6 Section 499-aaaaaa. Definitions.
 7 499-bbbbbb. Real property tax abatement.
 8 499-cccccc. Eligibility requirements.
 9 499-dddddd. Application for certificate of abatement.
 10 499-eeeeee. Enforcement and administration.
 11 499-ffffff. Reporting requirements; revocation of abatements.
 12 499-gggggg. Tax lien; interest and penalty.
 13 499-hhhhhh. Confidentiality.
 14 § 499-aaaaaa. Definitions. When used in this title, the following
 15 terms shall mean or include:
 16 1. "Abatement base". The lesser of (a) two dollars and fifty cents of
 17 the tax liability per square foot or (b) fifty per centum of the tax
 18 liability per square foot.
 19 2. "Abatement zone". Any area of a city having a population of one
 20 million or more. Any tax lot that is partly located inside an abatement
 21 zone shall be deemed to be entirely located inside such zone.
 22 3. "Aggregate floor area". The sum of the gross areas of the several
 23 floors of a building, measured from the exterior faces of exterior walls
 24 or from the center lines of walls separating two buildings.
 25 4. "Applicant". The landlord and the tenant.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD03150-01-5

 S. 1091 2

 1 5. "Benefit period". The period commencing with the first day of the
 2 month immediately following the rent commencement date and terminating
 3 no later than one hundred twenty months thereafter.
 4 6. "Billable assessed value". The lesser of the taxable transitional
 5 or the taxable actual assessed value of the eligible building and the
 6 land on which the eligible building is located for the fiscal year in
 7 which the benefit period commences.
 8 7. "Commercial activities". The buying, selling or otherwise providing
 9 of goods or services by a nonprofit organization.
 10 8. "Department of finance". The department of finance of any city
 11 having a population of one million or more.
 12 9. "Eligible building". With respect to the abatement zone defined in
 13 subdivision two of this section, a non-residential or mixed-use building
 14 which shall not include any building owned by a governmental agency.
 15 Each condominium unit in a building that meets the requirements of this
 16 subdivision shall be considered a separate eligible building.
 17 10. "Eligibility period". The period commencing April first, two thou-
 18 sand twenty-seven and terminating March thirty-first, two thousand thir-
 19 ty-seven.
 20 11. "Eligible premises". With respect to the abatement zone defined in
 21 subdivision two of this section, premises located in an eligible build-
 22 ing that (a) are occupied or used by a nonprofit organization and (b)
 23 are occupied or used by a tenant under a lease that meets the eligibil-
 24 ity requirements of section four hundred ninety-nine-cccccc of this
 25 title.
 26 12. "Fiscal year". The fiscal year of