Bill > A01193

This bill provides a tax abatement program for residential rental buildings that undergo lead-based paint remediation in certain cities. Under the proposed law, cities can adopt local regulations allowing property owners of residential buildings with three or more units to receive a tax reduction equal to the cost of safely removing lead-based paint from interior surfaces, window sills, window frames, and porches. To qualify, the lead-based paint removal must be performed by EPA-certified firms, completed after the local law's effective date, and the building must have no delinquent city taxes. Property owners must apply for the abatement within one year of completing the remediation, providing sworn statements, certification documents, and itemized cost summaries. The abatement will be paid over a maximum of two years and cannot exceed the building's annual tax liability. Each residential rental building is limited to one lead-based paint remediation tax abatement, and the application information will be kept confidential. The bill aims to incentivize property owners to address lead-based paint hazards, which can cause serious health risks, particularly to children, by offering a financial benefit for remediation efforts.

Budget and Finance

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