Establishes a demonstration program extending the J-51 tax exemption to the conversion and rehabilitation of commercial and manufacturing space in.

The bill establishes a demonstration program to extend the J-51 tax exemption to the conversion and rehabilitation of commercial and manufacturing space into co-located work and residential units in certain high density areas in Kings county. The J-51 tax exemption is a property tax exemption and abatement for renovating residential apartment buildings in certain counties of New York. The program will expire and be repealed five years after its effective date.

Establishes a demonstration program extending the J-51 tax exemption to the conversion and rehabilitation of commercial and manufacturing space in.

The bill establishes a demonstration program to extend the J-51 tax exemption to the conversion and rehabilitation of commercial and manufacturing space into co-located work and residential units in certain high density areas in Kings county. The J-51 tax exemption is a property tax exemption and abatement for renovating residential apartment buildings in certain counties of New York. The program will expire and be repealed five years after its effective date.