Bill > A07106

This bill amends 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 provision that any new multiple dwelling seeking a tax exemption must demonstrate compliance with MWBE participation requirements. When developers apply for a tax exemption, the local housing agency must now verify whether the applicant is in full compliance with MWBE regulations before certifying the project's eligibility. Importantly, the bill allows for waivers to MWBE requirements as prescribed in the referenced executive law sections, ensuring some flexibility for developers. The goal of this legislation appears to be promoting economic opportunities for minority and women-owned businesses in the real estate development process by making MWBE participation a condition for receiving property tax exemptions for new multiple dwelling projects. The bill will take effect immediately upon passage.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A7106