Bill > A08028

This bill modifies the childcare center tax abatement program for properties located in cities with a population of one million or more, specifically New York City. The bill increases the maximum tax abatement amounts for eligible childcare centers, with different caps depending on whether the abatement is first taken before or after July 1, 2025. For standard tax abatements, the maximum amount increases from $100,000 to $350,000, and for enhanced abatements in childcare desert areas, the cap rises from $225,000 to $750,000. The bill also adjusts the per-square-foot abatement rates and annual tax liability limits. Additionally, the legislation extends the application deadline for these tax abatements from March 15, 2025, to March 15, 2027, and sets a sunset date of July 1, 2032, after which no new tax abatements can be authorized. The total annual aggregate amount of tax abatements remains capped at $25 million, and the changes are designed to incentivize the creation and expansion of childcare centers in areas with limited childcare options.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A8028