Assembly BillIntroduced
A 7943: Provides for a real property tax exemption for property owned by single-member limited liability companies where such property serves as the primary residence of such member.
What A 7943 does, verified January 8, 2026
The proposed legislation aims to provide a real property tax exemption for certain dwellings owned by limited liability companies. The exemption will be granted if the property serves as the primary residence of the member of the limited liability company. This change will apply to single-member limited liability companies holding legal title to a dwelling, as long as it serves as their primary residence. The exemption will take effect immediately upon the bill's passage.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: referred to real property taxation (2026-01-07)Alert me
Quick answers about A 7943
- What is the current status of A 7943?
- As of January 8, 2026, A 7943 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on January 7, 2026, was "referred to real property taxation".
- Did A 7943 pass?
- Not yet. A 7943 has been introduced and has not passed either house.
- Who wrote A 7943, and where is it now?
- A 7943 was authored by Asm. Paula Elaine Kay. Its committee of record is Assembly Real Property Taxation.
Author and sponsors
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| Jan. 07, 2026 | referred to real property taxation |
| Apr. 16, 2025 | referred to real property taxation |
Latest bill textIntroduced version, April 16, 2025 · 187 words
STATE OF NEW YORK ________________________________________________________________________ 7943 2025-2026 Regular Sessions IN ASSEMBLY April 16, 2025 ___________ Introduced by M. of A. KAY -- read once and referred to the Committee on Real Property Taxation AN ACT to amend the real property tax law, in relation to a real proper- ty tax exemption for property owned by certain limited liability companies The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 3 of section 425 of the real property tax law 2 is amended by adding a new paragraph (e-1) to read as follows: 3 (e-1) Dwellings owned by certain limited liability companies. If legal 4 title to a dwelling is held by a single-member limited liability compa- 5 ny, the exemption shall be granted if the property serves as the primary 6 residence of the member of such limited liability company. 7 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD09758-01-5
Text of A 7943 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions