New York S07780 extends tax exemption for mutual redevelopment companies in cities with over one million residents.

New York S07780 amends the private housing finance law to allow local legislative bodies in cities with over one million residents to extend the tax exemption for mutual redevelopment companies. This extension can be granted after the initial maximum exemption period has expired, provided certain tax payment conditions are met. The act takes effect immediately upon signing.

New York S07780 extends tax exemption for mutual redevelopment companies in cities with over one million residents.

New York S07780 amends the private housing finance law to allow local legislative bodies in cities with over one million residents to extend the tax exemption for mutual redevelopment companies. This extension can be granted after the initial maximum exemption period has expired, provided certain tax payment conditions are met. The act takes effect immediately upon signing.