New York city arts space act provides tax benefits for eligible arts spaces.

The New York city arts space act amends the real property tax law to provide tax benefits for eligible arts spaces. It defines "affordable arts space" as a space rented by an eligible arts organization for use as studio, rehearsal, performance space, or arts or cultural programming open to the general public in an eligible multiple dwelling. Eligible arts organizations must be nonprofit organizations incorporated in or registered to do business in New York State or recognized as tax-exempt under the United States Internal Revenue Code.

New York city arts space act provides tax benefits for eligible arts spaces.

The New York city arts space act amends the real property tax law to provide tax benefits for eligible arts spaces. It defines "affordable arts space" as a space rented by an eligible arts organization for use as studio, rehearsal, performance space, or arts or cultural programming open to the general public in an eligible multiple dwelling. Eligible arts organizations must be nonprofit organizations incorporated in or registered to do business in New York State or recognized as tax-exempt under the United States Internal Revenue Code.