Reduces commercial rent taxes for retail and food services businesses in Manhattan south of 96th Street with annual base rent under $1 million.

New York S10300 amends the administrative code to reduce commercial rent taxes for retail and food services businesses in Manhattan south of 96th Street. The bill phases in the tax reductions over several periods, starting with a 15% reduction from March to May 1996, followed by a 25% reduction from June to August 1998, and culminating in a 35% reduction from September 1998 onwards. The reductions apply to businesses with an annual base rent of less than one million dollars.

Reduces commercial rent taxes for retail and food services businesses in Manhattan south of 96th Street with annual base rent under $1 million.

New York S10300 amends the administrative code to reduce commercial rent taxes for retail and food services businesses in Manhattan south of 96th Street. The bill phases in the tax reductions over several periods, starting with a 15% reduction from March to May 1996, followed by a 25% reduction from June to August 1998, and culminating in a 35% reduction from September 1998 onwards. The reductions apply to businesses with an annual base rent of less than one million dollars.