Int 0063-2024
Exemption from the commercial rent tax.
IntroductionFiledCommittee on Financeintroduced 2024-02-08
Filed — closed without being enacted.
Official record · Legistar
Agenda: 2024-02-08Passed: 2025-12-31
Summary
Currently, billboards and advertising signs are considered taxable premises for purposes of the commercial rent tax and the rent paid to advertise on those spaces is subject to the tax. This bill would exempt the rents for premises within the Theater Subdistrict solely used for the purpose of advertisement.
Committee on Finance — Executive Budget review and Budget modification, Banking Commission, Comptroller's Office, Department of Finance, Independent Budget Office, Office of Administrative Tax Appeal, and fiscal policy and revenue from any source.
How it compares
44% of similar bills passed
22 passed · 28 died
This bill: 691 days in committee
Similar bills: median 538 days · 42 days when passed
Compared against 50 Introduction bills in Committee on Finance.
Ranked by how closely each matches this bill's topic — closest first:
Int 1372-2019
Exemption from the commercial rent tax.
1071dFiled
Int 0496-2022
Exemption from the commercial rent tax.
576dFiled
Int 1107-2016
Exemption from the commercial rent tax.
662dFiled
Int 0863-2001
Commercial Rent or occupancy tax, increasing exemptions from such tax.
9dEnacted
Int 0543-1999
Commercial Rent or Occupancy Tax
978dFiled
Int 1779-2019
Exempting certain grocery stores from the commercial rent tax.
792dFiled
+ 44 more comparable bills
Sponsors (5)
Lifecycle
IntroducedIntroduced by Council
2024-02-08 · City Council
ActionReferred to Comm by Council
2024-02-08 · City Council
ClosedFiled (End of Session)
2025-12-31 · City Council
Heard at (1)
City Council · 2024-02-08 · 1:30 PM · Council Chambers - City Hall
Attachments (5)
- Summary of Int. No. 63
- Int. No. 63
- February 8, 2024 - Stated Meeting Agenda
- Hearing Transcript - Stated Meeting 2-8-24
- Minutes of the Stated Meeting - February 8, 2024
Full text
Be it enacted by the Council as follows:
Section 1. Subdivision a of section 11-704 of the administrative code of the city of New York, as amended by chapter 2 of the laws of 2005, is amended to add a new paragraph 7 to read as follows:
7. Any tenant who uses the premises solely for advertising when such premises are located in the "Theater Subdistrict," as defined by section 81-71 of the zoning resolution of the city of New York.
� 2. This local law takes effect on June 1, 2024.
Session 13
MJT
1/31/2024
Session 12
NAB
LS #1377
3/14/22
Session 11
NAB/RKC
LS #7313
Int. #1372-2019
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