Bill > S01632

This bill discontinues the real property tax exemption for certain real property used for home games for professional major league sports teams in New York City, beginning with the 2024 assessment roll. The bill also states that any provisions in a lease, agreement, or other written instrument requiring that any taxes or charges be made the obligation of any person or entity other than the property owner shall be deemed void as against public policy. The revenue and penalties collected from the discontinued exemption will be remitted by New York City to the Metropolitan Transportation Authority.