Bill > S00664

This bill amends the real property tax law to allow municipal corporations to impose taxes on certain possessory interests of private lessees or contractors using real property owned by the United States or New York state. Specifically, the bill creates a framework for taxing businesses that use government-owned property for commercial purposes, with some important exceptions. Concessions located in public spaces like parks, airports, or transportation facilities would be exempt from taxation. The bill requires municipal governing bodies to pass a local law or resolution to implement these taxes, and provides a phased approach to taxation where possessory interests would be progressively taxed over four years, starting with an 80% exemption and gradually reducing to a 20% exemption. The taxation would only apply to businesses with 25 or more employees, and would not apply to entities already making payments in lieu of taxes. Additionally, the bill includes a special provision for military land parcels that receive federal Impact Aid, which would be fully exempt from school property taxes. The new taxation rules would take effect on the first day of January following the bill's passage into law.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S664