STATE OF NEW YORK ________________________________________________________________________ 6965 2023-2024 Regular Sessions IN SENATE May 16, 2023 ___________ Introduced by Sen. KAVANAGH -- read twice and ordered printed, and when printed to be committed to the Committee on Cities 1 AN ACT to amend the real property tax law, in relation to applicants eligible for a rent increase exemption order and abatement of taxes pursuant to certain local law, ordinance or resolution in a city with a population of one million or more The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 13 of section 467-c of the real property tax 2 law, as amended by chapter 687 of the laws of 2022, is amended to read 3 as follows: 4 13. In a city with a population of one million or more, any such local 5 law, ordinance or resolution may provide for a rent increase exemption 6 order and the abatement of taxes of such city imposed on real property 7 formerly subject to the provisions of Article II of the private housing 8 finance law prior to the effective date of the chapter of the laws of 9 two thousand twenty-two that added this subdivision containing dwelling 10 units that are subject to a regulatory agreement in which the qualifying 11 head of household or their qualifying successor in interest: (a) has a 12 signed agreement with the landlord to limit increases in maximum rent 13 for the lifetime of the tenancy to an amount established by the rent 14 guidelines board in its annual guidelines for rent adjustments for hous- 15 ing accommodations subject to the emergency tenant protection act of 16 nineteen seventy-four or the administrative code of the city of New York 17 or to another amount provided for in such regulatory agreement; and (b) 18 is otherwise eligible for such tax abatement. Any such local law, ordi- 19 nance, or resolution may provide that the effective date of a rent 20 increase exemption order/tax abatement certificate shall be May thirty- 21 first, two thousand twenty-two for any applicant found eligible [within 22 one hundred eighty days of the date the provisions of this subdivision 23 take effect] on or before March thirty-first, two thousand twenty-four. 24 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11433-01-3