File #: Int 0064-2024    Version: * Name: Temporary exemption from the payment of the commercial rent tax for certain businesses.
Type: Introduction Status: Committee
Committee: Committee on Finance
On agenda: 2/8/2024
Enactment date: Law number:
Title: A Local Law in relation to a temporary exemption from the payment of the commercial rent tax for certain businesses
Sponsors: Keith Powers , Kalman Yeger , Althea V. Stevens, Erik D. Bottcher, Gale A. Brewer, (in conjunction with the Manhattan Borough Preside
Council Member Sponsors: 5
Summary: This bill would exempt all tenants who used their taxable premises primarily as a retail store providing goods or services, or as a food service establishment providing food or beverages for individual portion service directly to consumers, including restaurants, nightclubs and bars, from the Commercial Rent Tax for the tax period from June 1, 2022 to May 31, 2025.
Attachments: 1. Summary of Int. No. 64, 2. Int. No. 64, 3. February 8, 2024 - Stated Meeting Agenda, 4. Hearing Transcript - Stated Meeting 2-8-24, 5. Minutes of the Stated Meeting - February 8, 2024

Int. No. 64

 

By Council Members Powers, Yeger, Stevens, Bottcher and Brewer (in conjunction with the Manhattan Borough President)

 

A Local Law in relation to a temporary exemption from the payment of the commercial rent tax for certain businesses

 

Be it enacted by the Council as follows:

 

Section 1. a. Definitions. For the purposes of this local law, the following terms have the following meanings:

Taxable premises. The term “taxable premises” has the same meaning as set forth in section 11-701 of the administrative code of the city of New York.

Tenant. The term “tenant” has the same meaning as set forth in section 11-701 of the administrative code of the city of New York.

b. Notwithstanding any local law to the contrary, a tenant shall be exempt from the payment of the tax imposed by chapter 7 of title 11 of the administrative code of the city of New York for the tax years beginning on June 1, 2022, June 1, 2023 and June 1, 2024, if, in the regular course of business during such years, the tenant’s taxable premises was occupied or used primarily for the purpose of: (i) selling or renting goods directly to the public; (ii) providing services to consumers at retail; or (iii) providing food or beverage for individual portion service directly to the consumer, whether consumption occurs on or off the premises or is provided from a pushcart, stand or vehicle.

§ 2. This local law takes effect immediately and is retroactive to and deemed to have been in effect as of June 1, 2022.

 

 

 

 

Session 13

MJT

2/1/2024

 

Session 12

NAW/NAB/SJ

LS #903, 1010

5/27/2022 9:19 AM

 

Session 11

RKC

LS #5827

Int. #1371-2009

 

RKC/SR

LS #5400/14866

Int. #2007-2000