Bill > A01193

This bill allows local governments, such as counties, cities, villages, or towns, to offer a property tax abatement to owners of certain residential rental buildings for the costs associated with lead-based paint remediation, which means permanently eliminating lead-based paint or its hazards through measures like removal, enclosure, encapsulation, or replacement of affected components. This abatement does not cover general renovations or temporary fixes, and the work must be performed by certified professionals. To qualify, the property must be residential rental property (not a hotel or motel) and have no delinquent property taxes, or have an approved payment plan for any delinquencies. The abatement amount will generally equal the reasonable costs of the remediation, up to limits set by the local government, and will be spread over a maximum of five years, not exceeding the annual property tax liability. Property owners must apply with documentation proving the remediation was done correctly and by certified individuals, and they cannot receive other tax benefits for the same remediation costs.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A1193