Bill > S06211

This bill provides a tax incentive program for building owners in New York City to complete exterior facade repairs quickly and efficiently. The "RESTORE Act" (Reducing Excess Scaffolding and Timely Ongoing Repair Efforts Act) creates a graduated tax abatement system for buildings over six stories that require exterior repairs, with the goal of reducing lengthy construction periods and unnecessary sidewalk obstructions. Building owners who complete required facade repairs and remove sidewalk sheds within 12 months will be eligible for property tax reductions, with the highest 50% abatement available for repairs completed within three months, and progressively lower percentages for repairs taking longer. If repairs are not completed within 18 months, owners will face escalating tax penalties, starting at 10% of property taxes and increasing by 2% each month, up to a maximum of 25% of property taxes. The bill applies to all building types, including private landlords, cooperative housing corporations, and condominium associations, and provides a mechanism for owners to dispute penalties if delays were caused by factors outside their control. The aim is to incentivize timely building maintenance while recognizing the financial challenges of complex repair projects.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S6211