New York S 9867: Enacts the "teardown tax act"

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S09867 Summary:

BILL NOS09867B

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SAME ASSAME AS A10999-A

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SPONSORBOTTCHER

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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 S09867 Actions:

BILL NOS09867B

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04/09/2026REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

04/16/2026AMEND AND RECOMMIT TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

04/16/2026PRINT NUMBER 9867A

05/12/2026AMEND AND RECOMMIT TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

05/12/2026PRINT NUMBER 9867B

Go to topS09867 Committee&nbspVotes:

Go to topS09867 Floor&nbspVotes:

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

Go to topS09867 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9867--B

 IN SENATE

 April 9, 2026
 ___________

 Introduced by Sen. BOTTCHER -- read twice and ordered printed, and when
 printed to be committed to the Committee on Housing, Construction and
 Community Development -- committee discharged, bill amended, ordered
 reprinted as amended and recommitted to said committee -- 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.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD15389-12-6

 S. 9867--B 2

 1 3. The department shall have, in addition to any other functions,
 2 powers and duties which have been or may be conferred on it by law, the
 3 power to make and promulgate rules to carry out the purposes of this
 4 section. Such rules shall include, but not be limited to, procedures
 5 for the department to (a) make a determination as to whether a proposed
 6 demolition or alteration will result in the conversion of a multiple
 7 dwelling into a single-family dwelling and (b) require that the approval
 8 of any new or amended certificate of occupancy be conditioned upon the
 9 payment of the surcharge if such proposed demolition or alteration would
 10 result in such loss.
 11 4. All revenues generated by the surcharge shall be transferred to the
 12 landmarks preservation commission, established under chapter three of
 13 title twenty-five of this code, for the purpose of administering grants
 14 under such commission's historic preservation grant program.
 15 5. Definitions. For the purposes of this section, the following terms
 16 sha