Legislation Details

File #: Int 2483-2021    Version: * Name: Imposition of interest for the nonpayment of taxes on certain real property for the duration of the COVID-19 disaster emergency declared by the state.
Type: Introduction Status: Filed (End of Session)
Committee: Committee on Finance
On agenda: 12/15/2021
Enactment date: Law number:
Title: A Local Law to amend the administrative code of the city of New York, in relation to the imposition of interest for the nonpayment of taxes on certain real property for the duration of the COVID-19 disaster emergency declared by the state
Sponsors: Kalman Yeger
Council Member Sponsors: 1
Summary: This bill would eliminate interest on unpaid property taxes due and payable on or after March 7, 2020 through to the through to the end of the first month that commences after the expiration of the State’s COVID-19 disaster emergency for real property with an annual tax bill of $100,000 or less.
Attachments: 1. Summary of Int. No. 2483, 2. Int. No. 2483, 3. December 15, 2021 - Stated Meeting Agenda with Links to Files, 4. Hearing Transcript - Stated Meeting 12-15-21, 5. Minutes of the Stated Meeting - December 15, 2021

Int. No. 2483

 

By Council Member Yeger

 

A Local Law to amend the administrative code of the city of New York, in relation to the imposition of interest for the nonpayment of taxes on certain real property for the duration of the COVID-19 disaster emergency declared by the state

 

Be it enacted by the Council as follows:

Section 1. Section 11-224.1 of the administrative code of the city of New York is amended by adding a new subdivision h to read as follows:

h. Notwithstanding any inconsistent provision of law or rule, beginning on March seventh, two thousand twenty and ending on the last day of the first month that commences after the expiration of the state disaster emergency declared by the governor in executive order number 202 issued on March 7, 2020 and extended thereafter, no interest shall be imposed on an unpaid installment of tax due and payable provided that the amount of tax owed on the subject property for the applicable tax year does not exceed one hundred thousand dollars.

§ 2. This local law takes effect immediately and is retroactive to and deemed to have been in effect as of March 7, 2020.

 

 

 

 

 

 

 

 

 

NB

LS #15018

08/06/2020 8:25pm