New York City Council Header
File #: Int 1539-2019    Version: * Name: Requiring the dept of city planning to issue recommendations of which census tracts should be designated as opportunity zones.
Type: Introduction Status: Committee
Committee: Committee on Land Use
On agenda: 4/18/2019
Enactment date: Law number:
Title: A Local Law to amend the administrative code of the city of New York, in relation to requiring the department of city planning to issue recommendations of which census tracts should be designated as opportunity zones
Sponsors: James G. Van Bramer
Council Member Sponsors: 1
Summary: This bill would require the Department of City Planning (DCP) to study the census tracts that have been designated as Opportunity Zones, which are granted tax benefits pursuant to section 13823 of the Tax Cuts and Jobs Act of 2017 and census tracts eligible to be considered for such designation. DCP would then file a report with the Mayor, the Speaker of the City Council, the Regional Economic Development Council and the Governor containing recommendations for changes to which census tracts are designated as Opportunity Zones.
Indexes: Report Required
Attachments: 1. Summary of Int. No. 1539, 2. Int. No. 1539, 3. April 18, 2019 - Stated Meeting Agenda with Links to Files, 4. Hearing Transcript - Stated Meeting 4-18-19, 5. Minutes of the Stated Meeting - April 18, 2019

Int. No. 1539

 

By Council Member Van Bramer

 

A Local Law to amend the administrative code of the city of New York, in relation to requiring the department of city planning to issue recommendations of which census tracts should be designated as opportunity zones

 

Be it enacted by the Council as follows:

 

Section 1. Chapter 1 of title 25 of the administrative code of the city of New York is amended by adding a new section 25-116 to read as follows:

§ 25-116 Opportunity zone recommendations. a. Definitions. For the purposes of this section, the following terms have the following meanings:

Department. The term “department” means the department of city planning.

b. No later than January 1, 2023, and every five years thereafter, the department shall complete a study of census tracts designated as Opportunity Zones pursuant to section 13823 of the tax cuts and jobs act of 2017, as enacted by public law 115-97, and census tracts eligible to be considered for Opportunity Zone designation, and shall file with the mayor, the speaker of the council, the regional economic development council and the governor and post on the department’s website a report disclosing its recommendations for changes to census tracts that are designated as Opportunity Zones. The department may revise its recommendations within six months of filing such report.

§ 2. This local law takes effect immediately.

 

 

 

 

JG

LS # 9676

03/20/19 3:56 PM