Int. No. 525
By Council Members Dilan, Gentile, Gerson, James, Nelson, Stewart, Weprin, White Jr. and The Public Advocate (Ms. Gotbaum)
A Local Law to amend the administrative code of the city of New York, in relation to tax exemption and abatement for certain rehabilitated buildings as authorized by section 488-a of the real property tax law.
Be it enacted by the Council as follows:
Section 1. Paragraph (i) of subdivision b of section 11-244 of the administrative code of the city of New York, as amended by local law number 17 for the year 2003, is amended to read as follows:
(i) the eligible improvements are commenced after July first, nineteen hundred eighty, and prior to December thirty-first, [two thousand seven] two thousand eleven, and are completed within thirty-six months from commencement;
§2. This local law shall take effect immediately.
LS# 2549
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