We are pleased to inform you that the Parker-Braunstein Bill (Assembly Bill 5050), which provides real estate tax relief for carbon-reducing capital projects received a major boost this week. As you are well aware, the PCCC has been instrumental in the drafting and introduction of the Parker-Braunstein bill. This bill is part of our multi-prong approach to bringing relief from the devastating financial impact of Local Law 97 penalties and retrofits.
The “boost” came in the form of two letters from New York City Council members in support of Parker-Braunstein. The first letter was sent by Council Member Justin Brannan from the 47th District, Brooklyn, NY to NYS Senate Majority Leader Stewart Cousins and Assembly Speaker Heastie. The letter was co-signed by twenty-four (24) NYC Council Members. Our thanks to CM Brannan for his leadership on this issue and to all the NYC Council members who signed this letter.
The second letter was sent by the New York City Council Common Sense Caucus to the Governor’s Office and was signed by nine (9) NYC Council members. Again, the Co-op/Condo community is grateful for this support. The support of these NY City Council Members is critical to the passage of this bill.
We will continue to follow and advocate on behalf of our members for the passage of the Parker-Braunstein bill.