New York City Council Header
Meeting Name: Committee on Finance Agenda status: Final
Meeting date/time: 6/10/2020 10:00 AM Minutes status: Final  
Meeting location: REMOTE HEARING (VIRTUAL ROOM 2)
Published agenda: Agenda Agenda Published minutes: Minutes Minutes  
Meeting video:  
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Int 1952-2020 *Vanessa L. Gibson  Creation of a database to track the expenditure of funds in connection with COVID-19, and to provide for the repeal thereof.IntroductionThis bill would require the City to create a public database on its website that would track expenditures of federal, state and local funds for addressing COVID-19, including agency spending, city procurement contracts, grants and loans.Hearing Held by Committee  Action details Not available
Int 1952-2020 *Vanessa L. Gibson  Creation of a database to track the expenditure of funds in connection with COVID-19, and to provide for the repeal thereof.IntroductionThis bill would require the City to create a public database on its website that would track expenditures of federal, state and local funds for addressing COVID-19, including agency spending, city procurement contracts, grants and loans.Laid Over by Committee  Action details Not available
Int 1964-2020 *Margaret S. Chin PreconsideredAuthorize adoption by resolution of an interest rate for nonpayment of taxes on real property with an assessed value over two hundred fifty thousand dollars in FY'21 for certain property owners adversely affected by COVID-19.IntroductionThis bill would authorize the City Council to pass a resolution adopting a 7.5 percent interest rate on the late payment of fiscal year 2021 property taxes due on July 1, 2020 for the period between July 1, 2020 and October 15, 2020 for certain real property owners. To be eligible, property owners would be required to demonstrate to the Department of Finance (DOF) by no later than September 30, 2020 that such property owner has been adversely affected by COVID-19 and either: (a) owns class 4 real property with an assessed value of more than $250,000 and less than $750,000; or (b) owns real property with an assessed value over $250,000 where at least 50 percent of the property is used for residential rental dwellings and contains no more than 30 rental dwelling units, of which at least 50 percent are rent regulated accommodations. For the first category, adversely affected by COVID-19 means the income of the property owner declined between March 7, 2020 and June 30, 2020, by at least 50 percent as compared to the corresponding period in the previous calendar year, and for the second category that the income of the property owner declined between March 7, 2020 and June 30, 2020, by at least 25 percent as compared to the corresponding period in the previous calendar year. Additionally, DOF would be required to report to the Speaker of the Council no later than November 1, 2020 the number of properties for which the 7.5 percent interest rate was imposed pursuant to the provisions of this local law and the aggregate value of the real property tax liability of those properties.Hearing on P-C Item by Comm  Action details Not available
Int 1964-2020 *Margaret S. Chin  Authorize adoption by resolution of an interest rate for nonpayment of taxes on real property with an assessed value over two hundred fifty thousand dollars in FY'21 for certain property owners adversely affected by COVID-19.IntroductionThis bill would authorize the City Council to pass a resolution adopting a 7.5 percent interest rate on the late payment of fiscal year 2021 property taxes due on July 1, 2020 for the period between July 1, 2020 and October 15, 2020 for certain real property owners. To be eligible, property owners would be required to demonstrate to the Department of Finance (DOF) by no later than September 30, 2020 that such property owner has been adversely affected by COVID-19 and either: (a) owns class 4 real property with an assessed value of more than $250,000 and less than $750,000; or (b) owns real property with an assessed value over $250,000 where at least 50 percent of the property is used for residential rental dwellings and contains no more than 30 rental dwelling units, of which at least 50 percent are rent regulated accommodations. For the first category, adversely affected by COVID-19 means the income of the property owner declined between March 7, 2020 and June 30, 2020, by at least 50 percent as compared to the corresponding period in the previous calendar year, and for the second category that the income of the property owner declined between March 7, 2020 and June 30, 2020, by at least 25 percent as compared to the corresponding period in the previous calendar year. Additionally, DOF would be required to report to the Speaker of the Council no later than November 1, 2020 the number of properties for which the 7.5 percent interest rate was imposed pursuant to the provisions of this local law and the aggregate value of the real property tax liability of those properties.P-C Item Laid Over by Comm  Action details Not available
Int 1974-2020 *Public Advocate Jumaane Williams PreconsideredDeferral of property tax liability on real property with an assessed value of two hundred fifty thousand dollars or less owned by certain property owners impacted by COVID-19.IntroductionThis bill would authorize the City Council to pass a resolution adopting a zero percent interest rate the late payment of property taxes due on July 1, 2020, and paid between July 15 and September 30, 2020, for certain class 1 and condominium property owners who use the subject property as their primary residence. To be eligible, property owners would be required to demonstrate to the Department of Finance (DOF) by no later than September 30, 2020 that they were adversely affected by COVID-19 and be either: (a) enrolled in a Property Tax and Interest Deferral Program installment agreement with the Department of Finance (DOF); or (b) have a property with an assessed value of $250,000 or less and an income of less than $150,000. Additionally, DOF would be required to report to the Speaker of the Council no later than November 1, 2020 the number of properties for which the zero percent interest rate was imposed pursuant to the provisions of this local law and the aggregate value of the real property tax liability of those properties.Hearing on P-C Item by Comm  Action details Not available
Int 1974-2020 *Public Advocate Jumaane Williams  Deferral of property tax liability on real property with an assessed value of two hundred fifty thousand dollars or less owned by certain property owners impacted by COVID-19.IntroductionThis bill would authorize the City Council to pass a resolution adopting a zero percent interest rate the late payment of property taxes due on July 1, 2020, and paid between July 15 and September 30, 2020, for certain class 1 and condominium property owners who use the subject property as their primary residence. To be eligible, property owners would be required to demonstrate to the Department of Finance (DOF) by no later than September 30, 2020 that they were adversely affected by COVID-19 and be either: (a) enrolled in a Property Tax and Interest Deferral Program installment agreement with the Department of Finance (DOF); or (b) have a property with an assessed value of $250,000 or less and an income of less than $150,000. Additionally, DOF would be required to report to the Speaker of the Council no later than November 1, 2020 the number of properties for which the zero percent interest rate was imposed pursuant to the provisions of this local law and the aggregate value of the real property tax liability of those properties.P-C Item Laid Over by Comm  Action details Not available