The New York Assembly declined to take up a bill granting New York City property owners more time to qualify for a tax break for making energy-efficiency upgrades or other renovations to affordable multifamily housing.
The bill, S8170, passed in the Senate last week and would have allowed building owners four additional years to complete construction that could qualify for the incentive. The Assembly ended its voting session on Tuesday without taking up the bill.
The J-51 tax break was last updated in 2023 to help pay for upgrades—such as replacing dirty boilers—to meet greenhouse gas emissions caps set ...
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