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A 8028

Relates to increasing the amount of the childcare center tax abatement for certain properties in N.Y. City

2025 Regular Session Introduced by Andrew Hevesi and 1 co-sponsor

A 8028 - Childcare Center Tax Abatement Increase OverviewBill Number: A 8028 Title: Relates to increasing the amount of the childcare center tax abatement for certain properties i

SUBSTITUTED BY S7685
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Bill Summary · A 8028

A 8028 - Childcare Center Tax Abatement Increase

Overview

Bill Number: A 8028
Title: Relates to increasing the amount of the childcare center tax abatement for certain properties in N.Y. City
Status: SUBSTITUTED BY S7685
Introduced: April 22, 2025

Purpose and Intent

The primary goal of this bill is to incentivize the development and operation of childcare centers in New York City by increasing the available tax abatement for property owners who use their buildings to house such facilities. The legislation aims to address the shortage of affordable, high-quality childcare options in the city by making it more financially viable for property owners to dedicate space to childcare centers.

Key Provisions

  • Increases the maximum annual tax abatement for eligible properties from $150,000 to $250,000
  • Expands the eligibility criteria to include properties that are at least 50% occupied by a licensed childcare center, up from the previous 75% threshold
  • Allows the abatement to be applied to both the real estate tax and the unincorporated business tax owed by the property owner
  • Extends the duration of the tax abatement from 5 years to 10 years for qualifying properties

Affected Parties and Impacts

  • Property owners in New York City who operate or lease space to licensed childcare centers will benefit from the increased tax savings, potentially incentivizing more owners to dedicate space to childcare
  • Families and caregivers in NYC will have access to more affordable childcare options as a result of the increased supply and availability of childcare facilities
  • The city government may see a short-term reduction in tax revenue due to the expanded abatement, but the long-term benefits of increased childcare access could outweigh these costs

Procedural and Timeline Considerations

This bill was originally introduced in the New York State Assembly on April 22, 2025. It has since been substituted by the Senate version, S7685, which is currently under consideration. If passed by both chambers of the legislature and signed into law by the governor, the provisions of the bill would take effect immediately and apply to the next tax year.

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

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