Affordable New York Housing Program 421-a(16) Rules

Adopted Rules: Closed to Comments

Agency:
Effective Date: 
Thursday, October 26, 2017

HPD’s rule amendments implement the Affordable New York Housing Program adopted by the State Legislature in Chapter 20 of the Laws of 2015 and amended by Chapter 59 of the Laws of 2017. The Affordable New York Housing Program provides a tax exemption similar to the prior Real Property Tax Law Section 421-a exemption, but for buildings that commence construction after December 31, 2015.