On April 19, Governor Andrew Cuomo signed into law the New York Budget Bill for the 2021-2022 state fiscal year (Senate Bill S2509C) (the New Budget Bill). The New Budget Bill contains a major change to the liability...more
Key Points -
- Proposed taxes on mezzanine and preferred equity financing, and a tax on high-value second homes in New York City (commonly known as a “pied-à-terre” tax), were not included among the revenue-raising...more
Key Points -
- New York State lawmakers, who are looking to make up the gap in the state's annual budget, are considering proposals for nearly $7 billion in tax hikes in a package that includes taxes on mezzanine and...more
Under the newly enacted law Int. No. 1932-A, the New York City Administrative Code was amended to render unenforceable, in certain instances, the personal liability of guarantors of payment obligations contained in commercial...more
6/1/2020
/ Commercial Leases ,
Commercial Property Owners ,
Commercial Tenants ,
Coronavirus/COVID-19 ,
Eviction ,
Landlords ,
Moratorium ,
Relief Measures ,
Rent ,
Rental Property ,
State and Local Government ,
Tenants