New York Assembly Bill A05905 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 5905 2025-2026 Regular Sessions  IN ASSEMBLY February 24, 2025 ___________ Introduced by M. of A. ROSENTHAL -- read once and referred to the Committee on Housing AN ACT to amend the real property tax law, in relation to the distrib- ution of affordable units in certain projects The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 7 of section 421-a of the real property tax law 2 is amended by adding four new paragraphs (h), (i), (j) and (k) to read 3 as follows: 4 (h) Affordable units must be proportionally dispersed throughout the 5 project and may not be concentrated in certain floors, buildings or 6 areas of a building or buildings. 7 (i) Affordable units must have equal access to common spaces, amen- 8 ities, and ingress and egress as market-rate units. 9 (j) Within a city having a population of one million or more, the city 10 council may, by majority vote, waive the requirements of paragraphs (h) 11 and (i) of this subdivision for any project. 12 (k) Any projects completed prior to the effective date of this para- 13 graph shall ensure compliance with paragraph (i) of this section. 14 § 2. This act shall take effect immediately and shall apply to 15 projects that remain in construction as of the effective date of this 16 section. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02875-02-5