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S10300 • 2025

Reduces certain commercial rent taxes for premises occupied by certain retail and food services businesses located in the borough of Manhattan south of the center line of ninety-sixth street

Reduces certain commercial rent taxes for premises occupied by certain retail and food services businesses located in the borough of Manhattan south of the center line of ninety-sixth street

Housing Taxes
Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Erik Bottcher
Last action
2026-05-12
Official status
In Senate Committee
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Reduces certain commercial rent taxes for premises occupied by certain retail and food services businesses located in the borough of Manhattan south of the center line of ninety-sixth street

Reduces certain commercial rent taxes for premises occupied by certain retail and food services businesses located in the borough of Manhattan south of the center line of ninety-sixth street Reduces certain commercial rent taxes for premises occupied by certain retail or food services businesses having a base rent of less than one million dollars per year and located in the borough of Manhattan south of the center line of ninety-sixth street.

What This Bill Does

  • Reduces certain commercial rent taxes for premises occupied by certain retail and food services businesses located in the borough of Manhattan south of the center line of ninety-sixth street Reduces certain commercial rent taxes for premises occupied by certain retail or food services businesses having a base rent of less than one million dollars per year and located in the borough of Manhattan south of the center line of ninety-sixth street.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-05-12 Senate

    REFERRED TO CITIES 1

Official Summary Text

Reduces certain commercial rent taxes for premises occupied by certain retail and food services businesses located in the borough of Manhattan south of the center line of ninety-sixth street
Reduces certain commercial rent taxes for premises occupied by certain retail or food services businesses having a base rent of less than one million dollars per year and located in the borough of Manhattan south of the center line of ninety-sixth street.

Current Bill Text

Read the full stored bill text 
S T A T E   O F   N E W   Y O R K
        ________________________________________________________________________

                                          10300

                                    I N  S E N A T E

                                      May 12, 2026
                                       ___________

        Introduced  by  Sens.  BOTTCHER,  SCARCELLA-SPANTON  --  read  twice and
          ordered printed, and when printed to be committed to the Committee  on
          Cities 1

        AN  ACT  to  amend  the  administrative code of the city of New York, in
          relation to reducing certain commercial rent taxes for premises  occu-
          pied by certain retail and food services businesses

          THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
        BLY, DO ENACT AS FOLLOWS:

     1    Section 1. Paragraph 2 of subdivision  h  of  section  11-704  of  the
     2  administrative  code  of  the  city of New York, as amended by local law
     3  number 63 for the year 1997, is amended to read as follows:
     4    (2) In the case of any taxable premises  located  in  the  borough  of
     5  Manhattan south of the center line of ninety-sixth street, the base rent
     6  for such premises shall be reduced by (i) fifteen percent for the period
     7  beginning  March first, nineteen hundred ninety-six and ending May thir-
     8  ty-first, nineteen hundred ninety-six, (ii) twenty-five percent for  the
     9  period  beginning  June  first,  nineteen  hundred ninety-six and ending
    10  August thirty-first, nineteen hundred ninety-eight,  and  (iii)  thirty-
    11  five  percent  for  periods  beginning September first, nineteen hundred
    12  ninety-eight and thereafter, such reduction to be made after  all  other
    13  exemptions  and  deductions  authorized by this chapter have been taken,
    14  EXCEPT THAT THE BASE RENT FOR A TAXABLE PREMISES WHICH IS OCCUPIED BY  A
    15  RETAIL  BUSINESS  OR FOOD SERVICES BUSINESS WITH AN ANNUALIZED BASE RENT
    16  OF LESS THAN ONE  MILLION  DOLLARS  SHALL  BE  REDUCED  BY  ONE  HUNDRED
    17  PERCENT.
    18    §  2.  This act shall take effect on the first of July next succeeding
    19  the date on which it shall have become a law.



         EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01957-01-5