Rent Regulation - 421a Extension until 6/23/15

NY State has approved a retroactive extension of rent regulations that will keep the current law in effect until midnight Tuesday, June 23, 2015. 

The State has also approved a retroactive extension of 421a (tax abatement) in its current form also until midnight Tuesday June 23, 2015. 

For developers and builders who have the ability to “commence construction” by midnight Tuesday, June 23, 2015, including those who have commenced after June 15, 2015, such projects meeting the requirements will be covered by the current law.