Relates to authorizing a reduction of taxes pursuant to shelter rent
Summary
Relates to authorizing a reduction of taxes pursuant to shelter rent; provides that upon consent of the local legislative body in a city with a population of one million or more such taxes may be reduced to five per centum or less, including a full reduction of the annual shelter rent or carrying charges of a project.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 26, 2025
Last action May 13, 2026
Maddy AI version diff · 2 comparisons
What changed between versions
S5662A
→
S5662B
·
3 edits
MINOR
The bill was amended to clarify tax reduction rules for affordable housing projects in cities with populations of one million or more. The changes remove confusing bracketed text and explicitly allow these large cities to reduce taxes to a maximum of five percent, or even to zero (full reduction), upon local legislative consent. This provides greater flexibility for municipalities to offer significant tax relief to support affordable housing development.
Scope change
The scope of tax relief eligibility for large cities (population of one million or more) was clarified to explicitly permit full tax reductions, whereas the previous version contained ambiguous or conflicting language regarding the maximum tax rate.
ELIGIBILITY
Clarified that cities with populations of one million or more can reduce taxes to no more than five percent of annual shelter rent or carrying charges.
Explicitly added language allowing cities with populations of one million or more to further reduce taxes to five percent or less, including a full reduction to zero, upon local legislative consent.
TECHNICAL
Removed bracketed placeholder text and conflicting language that previously created ambiguity about the maximum allowable tax rate for large cities.
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
9
Key actions
4
Committee
5
Amendments
4
May 13, 2026
Upper · Passed
PRINT NUMBER 5662B
upper
May 13, 2026
Upper · Passed
AMEND AND RECOMMIT TO FINANCE
upper
Mar 18, 2026
Committee
REPORTED AND COMMITTED TO FINANCE
upper
Jan 8, 2026
Upper · Passed
PRINT NUMBER 5662A
upper
Jan 8, 2026
Upper · Passed
AMEND AND RECOMMIT TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
upper
Jan 7, 2026
Committee
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
upper
Apr 8, 2025
Committee
REPORTED AND COMMITTED TO FINANCE
upper
Mar 10, 2025
Committee
REPORTED AND COMMITTED TO CITIES 1
upper
Feb 26, 2025
Committee
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
upper
1 primary · 1 co-sponsor
Sponsors
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