Bill > A03037

This bill establishes a moratorium (temporary halt) on tax lien sales in cities with a population of one million or more, specifically targeting large cities like New York City. The moratorium will extend until April 1, 2026, and is specifically justified by the financial hardships property owners have experienced as a result of the COVID-19 pandemic. A tax lien sale occurs when a local government sells a property's unpaid tax debt to an investor, which can potentially lead to foreclosure if the property owner cannot repay the debt. By suspending these sales, the bill aims to provide relief to property owners who may have struggled financially during and after the pandemic, preventing them from losing their properties due to tax delinquencies. The bill takes effect immediately upon passage, ensuring quick implementation of the tax lien sale moratorium.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A3037