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.

  
  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.