Details Meeting Name: Committee on Finance Agenda status: Final Meeting date/time: 3/2/2023 10:00 AM Minutes status: Final   Meeting location: Committee Room - City Hall VOTE Published agenda: Agenda Published minutes: Minutes   Meeting video: Video   Attachments: CLICK ANY FILE # BELOW (in blue) TO ACCESS LEGISLATION AND ATTACHMENTS Meeting Items (15) 15 records Group Clear sorting Clear grouping Group by Type Group by Result Export Export to Excel Export to PDF Export to Word Show: All agenda items Legislation only All agenda items File # Ver. Prime Sponsor Agenda # Agenda Note Name Type Summary Action Result Action Details Multimedia                     Roll call Not available Int 0524-2022 * David M. Carr   Proposed Int. No 524-A Interest rates applicable to installment agreements for the payment of property tax arrears. Introduction This bill would authorize the New York City Banking Commission to recommend, and the Council to adopt, an interest rate that would be applicable to the property tax arrears that accrue while an eligible property with an assessed value of $250,000 or less is the subject of a valid payment agreement plan with the Department of Finance. Eligible properties must be the primary resident of the homeowner(s) whose total income does not exceed $200,000. These threshold cover 82 percent on New York City primary resident homeowners. The rate recommended by the Banking Commission must be at least equal to the most recently determined federal short-term interest rate rounded to the nearest half percent. The Department of Finance must conduct outreach for the new rate and report back to the Mayor and the Speaker. In addition, the local law would repeal provisions requiring the Banking Commission to make certain recommendations for interest rates for the nonpayment of water and sewer rents because those provisions are preempted by a State law setting such interest rates. Hearing Held by Committee   Action details Not available Int 0524-2022 * David M. Carr     Interest rates applicable to installment agreements for the payment of property tax arrears. Introduction This bill would authorize the New York City Banking Commission to recommend, and the Council to adopt, an interest rate that would be applicable to the property tax arrears that accrue while an eligible property with an assessed value of $250,000 or less is the subject of a valid payment agreement plan with the Department of Finance. Eligible properties must be the primary resident of the homeowner(s) whose total income does not exceed $200,000. These threshold cover 82 percent on New York City primary resident homeowners. The rate recommended by the Banking Commission must be at least equal to the most recently determined federal short-term interest rate rounded to the nearest half percent. The Department of Finance must conduct outreach for the new rate and report back to the Mayor and the Speaker. In addition, the local law would repeal provisions requiring the Banking Commission to make certain recommendations for interest rates for the nonpayment of water and sewer rents because those provisions are preempted by a State law setting such interest rates. Amendment Proposed by Comm   Action details Not available Int 0524-2022 * David M. Carr     Interest rates applicable to installment agreements for the payment of property tax arrears. Introduction This bill would authorize the New York City Banking Commission to recommend, and the Council to adopt, an interest rate that would be applicable to the property tax arrears that accrue while an eligible property with an assessed value of $250,000 or less is the subject of a valid payment agreement plan with the Department of Finance. Eligible properties must be the primary resident of the homeowner(s) whose total income does not exceed $200,000. These threshold cover 82 percent on New York City primary resident homeowners. The rate recommended by the Banking Commission must be at least equal to the most recently determined federal short-term interest rate rounded to the nearest half percent. The Department of Finance must conduct outreach for the new rate and report back to the Mayor and the Speaker. In addition, the local law would repeal provisions requiring the Banking Commission to make certain recommendations for interest rates for the nonpayment of water and sewer rents because those provisions are preempted by a State law setting such interest rates. Amended by Committee   Action details Not available Int 0524-2022 A David M. Carr     Interest rates applicable to installment agreements for the payment of property tax arrears. Introduction This bill would authorize the New York City Banking Commission to recommend, and the Council to adopt, an interest rate that would be applicable to the property tax arrears that accrue while an eligible property with an assessed value of $250,000 or less is the subject of a valid payment agreement plan with the Department of Finance. Eligible properties must be the primary resident of the homeowner(s) whose total income does not exceed $200,000. These threshold cover 82 percent on New York City primary resident homeowners. The rate recommended by the Banking Commission must be at least equal to the most recently determined federal short-term interest rate rounded to the nearest half percent. The Department of Finance must conduct outreach for the new rate and report back to the Mayor and the Speaker. In addition, the local law would repeal provisions requiring the Banking Commission to make certain recommendations for interest rates for the nonpayment of water and sewer rents because those provisions are preempted by a State law setting such interest rates. Approved by Committee Pass Action details Not available Res 0508-2023 * Justin L. Brannan   Preconsidered Approving the new designation and changes in the designation of certain organizations to receive funding in the Expense Budget. Resolution   Hearing on P-C Item by Comm   Action details Not available Res 0508-2023 * Justin L. Brannan     Approving the new designation and changes in the designation of certain organizations to receive funding in the Expense Budget. Resolution   P-C Item Approved by Comm Pass Action details Not available M 0125-2023 *     Preconsidered The Operating Budget of the Council of the City of NY. Communication   Hearing on P-C Item by Comm   Action details Not available M 0125-2023 *       The Operating Budget of the Council of the City of NY. Communication   P-C Item Approved by Committee with Companion Resolution Pass Action details Not available M 0126-2023 *     Preconsidered Schedule detailing the lump sum OTPS Unit of Appropriation of the Operating Budget of the Council of the City of NY. Communication   Hearing on P-C Item by Comm   Action details Not available M 0126-2023 *       Schedule detailing the lump sum OTPS Unit of Appropriation of the Operating Budget of the Council of the City of NY. Communication   P-C Item Approved by Committee with Companion Resolution Pass Action details Not available M 0128-2023 *     Preconsidered Appropriation of new City revenues in Fiscal Year 2023, pursuant to Section 107(e) of the New York City Charter (MN-3) Communication   Hearing on P-C Item by Comm   Action details Not available M 0128-2023 *       Appropriation of new City revenues in Fiscal Year 2023, pursuant to Section 107(e) of the New York City Charter (MN-3) Communication   P-C Item Approved by Committee with Companion Resolution Pass Action details Not available LU 0174-2023 * Justin L. Brannan   Preconsidered The Renaissance, Block 1600, Lot 1002, Manhattan, Community District No. 10, Council District No. 9. Land Use Application   Hearing on P-C Item by Comm   Action details Not available LU 0174-2023 * Justin L. Brannan     The Renaissance, Block 1600, Lot 1002, Manhattan, Community District No. 10, Council District No. 9. Land Use Application   P-C Item Approved by Committee with Companion Resolution Pass Action details Not available