Exemption from the commercial rent tax.
Introduced
Moved
Reached a final decision
Introduced Feb 8, 2024
Official status: Filed (End of Session)
Derived from the official record below.
Officially: “A Local Law to amend the administrative code of the city of New York, in relation to an exemption from the commercial rent tax” Read the full text
Finance
What it does
Currently, billboards and advertising signs are considered taxable premises for purposes of the commercial rent tax and the rent paid to advertise on those spaces is subject to the tax. This bill would exempt the rents for premises within the Theater Subdistrict solely used for the purpose of advertisement.
Summary written by City Council staff, from the official record. Plain-language AI rewrite with cited sections coming. Not legal advice.
Where it is
Introduced by Council · Feb 8, 2024
Referred to Comm by Council · Feb 8, 2024
Filed (End of Session) · Dec 31, 2025
Official documents
Summary of Int. No. 63
officialInt. No. 63
officialFebruary 8, 2024 - Stated Meeting Agenda
officialHearing Transcript - Stated Meeting 2-8-24
officialMinutes of the Stated Meeting - February 8, 2024
officialStraight from the Council record: fiscal impact statements, committee reports, and hearing transcripts as filed.
The numbers
4
sponsors on the bill
Sponsors
Every fact on this page links to its source, starting with the official bill record. Last action: Filed (End of Session) (Dec 31, 2025).