BILL NUMBER: S216REVISED 1/29/24
SPONSOR: MYRIE
 
TITLE OF BILL:
An act to repeal section 421-a of the real property tax law, relating to
the affordable New York housing program; to amend the real property tax
law, the administrative code of the city of New York, and the private
housing finance law, in relation to making necessary technical and
conforming changes; and to repeal certain sections of the administrative
code of the city of New York relating thereto
 
PURPOSE:
The purpose of the bill is to correct technical issues within the Prop-
erty Tax and Private Housing Finance Law relating to multiple dwellings.
 
SUMMARY OF PROVISIONS:
Section 1 repeals section 421-a of the Real Property Tax law.
Section 2 repeals section 11-245 of the administrative code of the City
of New York. Section 3 repeals section 11-245.1 of the administrative
code of the City of New York. Section 4 repeals section 11-245.1a of the
administrative code of the City of New York.
Section 5 repeals section 11.245.1b of the administrative code of the
City of New York. Section 6 redefines "lease" in the administrative code
of the City of New York.
Section 7 amends subdivision 1 of section 11-239 of the administrative
code of the City of New York by adding local law 40 of the City of New
York which states the rate at which tax rebates are calculated upon the
change in value in property taxes over time.
Section 8 amends subdivision h of section 26-901 of the administrative
code of the City of New York by adding local law 44 of the City of New
York which defines "housing development project".
Section 9 amends subdivision 18 of section 654-d of the private housing
finance law by adding chapter 703 of the laws of 1992 which explains the
applicable properties that the rent stabilization law of nineteen
hundred sixty-nine.
Section 10 amends subdivision 6 of section 421-m of the real property
tax law by adding section 43 of part B of chapter 97 of the laws of 2011
which outlines the exceptions to the prior section.
Section 11 amends subdivision 1 of section 467-e of the real property
tax law by adding chapter 483 of the laws of 2007 which empowers cities
with a population of 1 million to be able to amend local laws thus
affecting property tax rebates.
Section 12 amends subdivision la of section 489 of the real property tax
law by adding chapter 450 of the laws of 2003 which allocates tax lots
in the borough of Manhattan along with defining, "floor area".
Section 13 provides the effective date.
 
JUSTIFICATION:
 
LEGISLATIVE HISTORY:
S260A of 2021-22: Referred to Housing, Construction, and Community
Development.
S7238 of 2020-21: Referred to Housing, Construction, and Community
Development.
 
FISCAL IMPLICATIONS:
To be determined
 
EFFECTIVE DATE:
This act shall take effect immediately.

Statutes affected:
S216: 421-a real property tax law, 654-d private housing finance law, 654-d(18) private housing finance law, 467-e real property tax law, 467-e(1) real property tax law