New York City Council Header
Meeting Name: Committee on Finance Agenda status: Final
Meeting date/time: 11/30/2017 10:00 AM Minutes status: Final  
Meeting location: Committee Room - City Hall
Published agenda: Agenda Agenda Published minutes: Minutes Minutes  
Meeting video:  
Attachments:
File #Ver.Prime SponsorAgenda #Agenda NoteNameTypeSummaryActionResultAction DetailsMultimedia
            Roll call Not available
Int 0799-2015 *Daniel R. Garodnick Proposed Int. No. 799-BCommercial rent tax.IntroductionThis local law would establish a Small Business Tax Credit (“the credit”) against the Commercial Rent Tax. The credit would provide complete tax relief for taxpayers who have incomes of $5 million or less and who pay less than $500,000 per year in rent. Taxpayers who have incomes of $5 million or less and who pay between $500,000 and $550,000 per year in rent, and those taxpayers who have incomes between $5 million and $10 million and who pay less than $550,000 per year in rent would receive a partial, sliding scale credit. Taxpayers who have incomes of more than $10 million would not receive any credit. The credit would be available beginning July 1, 2018.Hearing Held by Committee  Action details Not available
Int 0799-2015 *Daniel R. Garodnick  Commercial rent tax.IntroductionThis local law would establish a Small Business Tax Credit (“the credit”) against the Commercial Rent Tax. The credit would provide complete tax relief for taxpayers who have incomes of $5 million or less and who pay less than $500,000 per year in rent. Taxpayers who have incomes of $5 million or less and who pay between $500,000 and $550,000 per year in rent, and those taxpayers who have incomes between $5 million and $10 million and who pay less than $550,000 per year in rent would receive a partial, sliding scale credit. Taxpayers who have incomes of more than $10 million would not receive any credit. The credit would be available beginning July 1, 2018.Amendment Proposed by Comm  Action details Not available
Int 0799-2015 *Daniel R. Garodnick  Commercial rent tax.IntroductionThis local law would establish a Small Business Tax Credit (“the credit”) against the Commercial Rent Tax. The credit would provide complete tax relief for taxpayers who have incomes of $5 million or less and who pay less than $500,000 per year in rent. Taxpayers who have incomes of $5 million or less and who pay between $500,000 and $550,000 per year in rent, and those taxpayers who have incomes between $5 million and $10 million and who pay less than $550,000 per year in rent would receive a partial, sliding scale credit. Taxpayers who have incomes of more than $10 million would not receive any credit. The credit would be available beginning July 1, 2018.Amended by Committee  Action details Not available
Int 0799-2015 BDaniel R. Garodnick  Commercial rent tax.IntroductionThis local law would establish a Small Business Tax Credit (“the credit”) against the Commercial Rent Tax. The credit would provide complete tax relief for taxpayers who have incomes of $5 million or less and who pay less than $500,000 per year in rent. Taxpayers who have incomes of $5 million or less and who pay between $500,000 and $550,000 per year in rent, and those taxpayers who have incomes between $5 million and $10 million and who pay less than $550,000 per year in rent would receive a partial, sliding scale credit. Taxpayers who have incomes of more than $10 million would not receive any credit. The credit would be available beginning July 1, 2018.Approved by CommitteePass Action details Not available
Int 1376-2016 *Helen K. Rosenthal Proposed Int. No. 1376-ARequiring the dept of finance to issue an annual report on the commercial rent tax.IntroductionThis legislation would require the Department of Finance to issue an annual report on the commercial rent tax. Such report would include information on the number and location of premises and the amount of the tax paid, by base rent range and industry; the number of taxpayers and the amount of the tax paid, by base rent range and industry; the number of taxpayers who paid the tax on more than one property, by base rent range and industry; the total amount of tax collected, by base rent and industry; the number of taxable premises and taxpayers who received the Small Business Tax Credit, by base rent range and industry; the total amount of the tax collected in the prior ten tax years and the average tax liability per premises and taxpayer; and a comparison of the total amount of the tax collected in the prior ten tax years and the average market value of commercial property in Manhattan.Hearing Held by Committee  Action details Not available
Int 1376-2016 *Helen K. Rosenthal  Requiring the dept of finance to issue an annual report on the commercial rent tax.IntroductionThis legislation would require the Department of Finance to issue an annual report on the commercial rent tax. Such report would include information on the number and location of premises and the amount of the tax paid, by base rent range and industry; the number of taxpayers and the amount of the tax paid, by base rent range and industry; the number of taxpayers who paid the tax on more than one property, by base rent range and industry; the total amount of tax collected, by base rent and industry; the number of taxable premises and taxpayers who received the Small Business Tax Credit, by base rent range and industry; the total amount of the tax collected in the prior ten tax years and the average tax liability per premises and taxpayer; and a comparison of the total amount of the tax collected in the prior ten tax years and the average market value of commercial property in Manhattan.Amendment Proposed by Comm  Action details Not available
Int 1376-2016 *Helen K. Rosenthal  Requiring the dept of finance to issue an annual report on the commercial rent tax.IntroductionThis legislation would require the Department of Finance to issue an annual report on the commercial rent tax. Such report would include information on the number and location of premises and the amount of the tax paid, by base rent range and industry; the number of taxpayers and the amount of the tax paid, by base rent range and industry; the number of taxpayers who paid the tax on more than one property, by base rent range and industry; the total amount of tax collected, by base rent and industry; the number of taxable premises and taxpayers who received the Small Business Tax Credit, by base rent range and industry; the total amount of the tax collected in the prior ten tax years and the average tax liability per premises and taxpayer; and a comparison of the total amount of the tax collected in the prior ten tax years and the average market value of commercial property in Manhattan.Amended by Committee  Action details Not available
Int 1376-2016 AHelen K. Rosenthal  Requiring the dept of finance to issue an annual report on the commercial rent tax.IntroductionThis legislation would require the Department of Finance to issue an annual report on the commercial rent tax. Such report would include information on the number and location of premises and the amount of the tax paid, by base rent range and industry; the number of taxpayers and the amount of the tax paid, by base rent range and industry; the number of taxpayers who paid the tax on more than one property, by base rent range and industry; the total amount of tax collected, by base rent and industry; the number of taxable premises and taxpayers who received the Small Business Tax Credit, by base rent range and industry; the total amount of the tax collected in the prior ten tax years and the average tax liability per premises and taxpayer; and a comparison of the total amount of the tax collected in the prior ten tax years and the average market value of commercial property in Manhattan.Approved by CommitteePass Action details Not available
Int 1750-2017 *Julissa Ferreras-Copeland Proposed Int. No. 1750-ARequiring the dept of finance to provide new homeowners with information about real property taxes and exemptions.IntroductionThe Department of Finance (DOF) is required to publish a property tax informational brochure for class 1 and class 2 properties describing the way those properties are valued and assessed, explaining how those values affect property tax bills, providing information about property tax exemptions, and setting forth the timeline of relevant property tax deadlines. This local law would require that, whenever a document transferring ownership of a one-to-four family home or a residential cooperative and condominium is recorded with the City Register or Richmond County Clerk, DOF would have to mail or email a copy of the property tax informational brochure to the new homeowners.Hearing Held by Committee  Action details Not available
Int 1750-2017 *Julissa Ferreras-Copeland  Requiring the dept of finance to provide new homeowners with information about real property taxes and exemptions.IntroductionThe Department of Finance (DOF) is required to publish a property tax informational brochure for class 1 and class 2 properties describing the way those properties are valued and assessed, explaining how those values affect property tax bills, providing information about property tax exemptions, and setting forth the timeline of relevant property tax deadlines. This local law would require that, whenever a document transferring ownership of a one-to-four family home or a residential cooperative and condominium is recorded with the City Register or Richmond County Clerk, DOF would have to mail or email a copy of the property tax informational brochure to the new homeowners.Amendment Proposed by Comm  Action details Not available
Int 1750-2017 *Julissa Ferreras-Copeland  Requiring the dept of finance to provide new homeowners with information about real property taxes and exemptions.IntroductionThe Department of Finance (DOF) is required to publish a property tax informational brochure for class 1 and class 2 properties describing the way those properties are valued and assessed, explaining how those values affect property tax bills, providing information about property tax exemptions, and setting forth the timeline of relevant property tax deadlines. This local law would require that, whenever a document transferring ownership of a one-to-four family home or a residential cooperative and condominium is recorded with the City Register or Richmond County Clerk, DOF would have to mail or email a copy of the property tax informational brochure to the new homeowners.Amended by Committee  Action details Not available
Int 1750-2017 AJulissa Ferreras-Copeland  Requiring the dept of finance to provide new homeowners with information about real property taxes and exemptions.IntroductionThe Department of Finance (DOF) is required to publish a property tax informational brochure for class 1 and class 2 properties describing the way those properties are valued and assessed, explaining how those values affect property tax bills, providing information about property tax exemptions, and setting forth the timeline of relevant property tax deadlines. This local law would require that, whenever a document transferring ownership of a one-to-four family home or a residential cooperative and condominium is recorded with the City Register or Richmond County Clerk, DOF would have to mail or email a copy of the property tax informational brochure to the new homeowners.Approved by CommitteePass Action details Not available
Res 1730-2017 *Julissa Ferreras-Copeland PreconsideredApproving 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 1730-2017 *Julissa Ferreras-Copeland  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 CommPass Action details Not available
LU 0819-2017 *Julissa Ferreras-Copeland PreconsideredSydney House, BronxLand Use Application Hearing on P-C Item by Comm  Action details Not available
LU 0819-2017 *Julissa Ferreras-Copeland  Sydney House, BronxLand Use Application P-C Item Approved by Committee with Companion ResolutionPass Action details Not available
LU 0820-2017 *Julissa Ferreras-Copeland PreconsideredMount Hope Preservation Apartments, BronxLand Use Application Hearing on P-C Item by Comm  Action details Not available
LU 0820-2017 *Julissa Ferreras-Copeland  Mount Hope Preservation Apartments, BronxLand Use Application P-C Item Approved by Committee with Companion ResolutionPass Action details Not available
            Not available