Bill > S07685

This bill modifies the childcare center tax abatement program for properties in cities with populations over one million, primarily New York City. The bill increases the maximum tax abatement amounts for eligible childcare centers, with different caps depending on when the tax abatement is first taken. For tax abatements initially taken before July 1, 2025, the maximum abatement is $100,000 and $20,000 per year, while for abatements taken on or after July 1, 2025, the maximum increases to $350,000 and $70,000 per year. An enhanced abatement is available for childcare centers located in "childcare deserts," with even higher maximum amounts: $225,000 and $45,000 per year before July 1, 2025, and $750,000 and $150,000 per year afterwards. The total annual tax abatements remain capped at $25 million, and the program will no longer authorize new abatements after July 1, 2032. Additionally, the bill extends the application deadline for these tax abatements from March 15, 2025, to March 15, 2027, giving property owners more time to apply for the program. The goal appears to be incentivizing the creation and expansion of childcare centers in areas with limited childcare options.

Budget and Finance, Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S7685