Bill > S04298

This bill modifies the real property tax law to require that new multiple dwellings seeking a tax exemption must also comply with minority and women-owned business enterprise (MWBE) participation goals, as outlined in sections 312 and 313 of the executive law. Specifically, the bill adds a new provision that any new multiple dwelling seeking tax exemption must demonstrate compliance with MWBE participation requirements, though applicants retain the ability to use waivers as prescribed by law. The bill also amends the application process for tax exemptions, requiring local housing agencies to verify an applicant's compliance with MWBE provisions before certifying eligibility. This change aims to promote economic equity by ensuring that developers seeking property tax benefits also support minority and women-owned businesses in their construction and development projects. The new requirements will apply to all new multiple dwellings seeking tax exemptions, with a particular focus on cities with populations over one million, such as New York City.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S4298