Proposed Real Property Tax Law Section 421-a Legislation Has Been Introduced
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Proposed Real Property Tax Law Section 421-a legislation has been introduced in the New York State Senate and New York State Assembly. These bills cover Real Property Tax Law Section 421-a for new residential multiple dwelling construction commencing after June 15, 2015. Below are the links to the full text of the bills. It is likely that these bills will be amended if enacted into law.
NY Senate Proposal—
http://open.nysenate.gov/legislation/bill/S5768-2015
NY Assembly Proposals-