New York Amends Law Extending Tax Exemption for Mutual Redevelopment Companies

The New York Governor signed a law that amends the private housing finance law to allow cities with populations over one million to grant mutual redevelopment companies an additional tax exemption period of up to fifty years. The law takes effect immediately. [A.B. 8651, enacted 10/14/25]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.