The New York City Industrial and Commercial Abatement Program (ICAP) has been extended to remain in effect through 2030, with some modifications. The New York state budget bill for FY 2026, signed by Governor Kathy Hochul on...more
On May 1, 2023, the New York State Legislature voted to adopt the Fiscal Year 2024 budget which included the renewal and extension of the sunset date of five programs that abate real estate taxes, reduce commercial rent tax,...more
The New York State Enacted Fiscal Year 2021 budget included the renewal and extension of nine programs that abate real estate taxes, city corporate taxes, sales taxes, and provide energy discounts to qualified applicants....more
New laws may benefit developers and businesses with applications long pending and for future applicants that depend on these incentive programs to help induce investment and economic growth in the New York City. These...more