New York Assembly bill in Session 2025-2026.
Status: in_committee. Latest action: January 7, 2026.
Grants real property tax abatement to rent-controlled or rent regulated properties when the maximum authorized rent exceeds 1/2 of the tenants' household income.
Authorizes application of the property tax abatement for rent-controlled or rent regulated properties occupied by senior citizens or disabled persons, to those units occupied by tenants paying the maximum allowable rent when such rent exceeds 1/2 of the household income; provides for state payments to cities affected thereby equal to 10% of lost real property tax revenue.
| Date | Event | Detail |
|---|---|---|
| 2025-01-14 | Introduced | Bill introduced |
| 2026-01-07 | Status | in_committee |
| 2026-01-07 | Latest Action | In Assembly Committee |