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S 1462

Fix Our Forests Act

119th Congress Introduced by John Curtis and 3 co-sponsors

Bill S 1462 offers ground rent rebates to eligible homeowners and renters in Battery Park, easing financial burdens and promoting housing stability in the area.

Committee on Agriculture, Nutrition, and Forestry. Reported by Senator Boozman with an amendment in the nature of a substitute. Without written report.
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Bill Summary · S 1462

Summary of Bill S 1462

Title: Relates to establishing ground rent rebates for eligible homeowners and renters in the Battery Park project area

Bill Number: S 1462
Introduced On: January 10, 2025
Current Status: Referred to Corporations, Authorities and Commissions
Legislative Actions:
- 2025-05-28: Passed Senate
- 2025-05-28: Delivered to Assembly
- 2025-05-28: Referred to Corporations, Authorities and Commissions
- 2025-05-22: Advanced to Third Reading
- 2025-05-21: 2nd Report Calendar
- 2025-05-20: 1st Report Calendar 1182
- 2025-01-10: Referred to Corporations, Authorities and Commissions

Purpose and Intent

Bill S 1462 aims to provide financial relief to eligible homeowners and renters residing in the Battery Park project area by establishing a system of ground rent rebates. The intent is to alleviate the financial burden associated with ground rents, thereby promoting housing stability and affordability in this specific urban area.

Key Provisions

  • Ground Rent Rebates: The bill proposes the creation of a rebate program for ground rents paid by eligible homeowners and renters in the Battery Park area.
  • Eligibility Criteria: Specific criteria will be established to determine who qualifies for the rebates, which may include income thresholds, residency requirements, and property ownership status.
  • Implementation Timeline: The bill outlines a timeline for the implementation of the rebate program, although specific dates for the rollout are not detailed in the current version.

Impact

  • Homeowners and Renters: The primary beneficiaries of this bill will be homeowners and renters in the Battery Park project area who are struggling with ground rent payments.
  • Local Economy: By providing financial relief, the bill may contribute to greater economic stability in the Battery Park area, potentially leading to increased consumer spending and investment in the community.
  • Government Administration: The bill will require the establishment of a framework for administering the rebate program, which may involve additional costs and resources for local government agencies.

Procedural Aspects

  • The bill has successfully passed the Senate and is currently in the Assembly for further consideration.
  • It has been referred to the Corporations, Authorities and Commissions committee, where it will undergo additional review and potential amendments before further legislative action.

Related Legislation

  • S 9455: A related bill from a prior session that may address similar issues.
  • S 2963: Another prior session bill that could provide context or background relevant to S 1462.
  • A 4537: A companion bill in the Assembly that aligns with the objectives of S 1462.

This summary provides an overview of Bill S 1462, highlighting its purpose, key provisions, and potential impacts on the community it aims to serve.

Compiled from official sources — confirm details with the bill’s official record.

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