Meeting Name: Committee on Finance Agenda status: Final
Meeting date/time: 6/30/2024 12:30 PM Minutes status: Final  
Meeting location: Council Chambers - City Hall
BUDGET ADOPTION
Published agenda: Agenda Agenda Published minutes: Minutes Minutes  
Meeting video:  
Attachments: CLICK ANY FILE # BELOW (in blue) TO ACCESS LEGISLATION AND ATTACHMENTS, Schedule C
File #Ver.Prime SponsorAgenda #Agenda NoteNameTypeSummaryActionResultAction DetailsMultimedia
            Roll call Not available
Int 0962-2024 *Justin L. Brannan  Resolution and enforcement of property tax collection and preservation of housing for certain properties.IntroductionThe bill would increase the frequency by which the Department of Finance (DOF) must notify owners of real property of any and all real property tax liens they have, as well as inform owners on how to learn what liens the Department of Environmental Protection may have issued for nonpayment of sewer or water rents or sewer surcharges. The bill would prohibit the sale of tax liens on vacant land that has been determined undevelopable by a Mayor-determined agency. The bill would require the Department of Housing Preservation and Development (HPD) to conduct Housing Maintenance Code inspections of certain Class 2 multiple dwellings that have appeared on the tax lien sale list at least twice over a four-year period, and for DOF to provide a list of such properties to HPD before conducting a lien sale. The bill would authorize the DOF Commissioner to conduct a sale of tax liens through and including December 31, 2028, as well as make substantive reforms to the tax lien sale process. The bill codifies and expands various reporting requirements to the Council, including additional information about status and debts of properties whose liens have been sold to the various City created Trusts as well as various documents and agreements that govern the Trusts. The bill increases and fixes the property tax and interest deferral (PT AID) payment plan income threshold to match that of the Enhanced STAR threshold and increases how much property tax may be deferred under PT AID. The bill also creates a new type of PT AID payment plan that mirrors elements of the circuit breaker proposed by the Advisory Commission on Property Tax Reform whereby an owner who pays more than 10 percent of their income may defer the amount above that percentage, so long as the remaining payments are not less than $1,500 a year. The bill would establish an “Easy Exit” program, where owners of certain Class 1 properties and condominium units can request DOF remove their home from the tax lien sale up to three times within a 36-month period, as of right. The bill would allow owners of non-condo/co-op Class 1 properties in severe financial distress to, after consulting with an attorney, voluntarily partner with a Qualified Preservation Purchaser (QPP) whereby existing debt would be extinguished and title to the property will be transferred to the QPP. In turn, the QPP provides the property owner a long-term affordable lease which can be passed on to heirs and allows for the former homeowner to recoup any equity they held in the property. The bill establishes a 10-member task force of Mayoral and Council appointees to examine and devise ways delinquent City property tax could be collected fairly and effectively without the sale of tax liens.Hearing Held by Committee  Action details Not available
Int 0962-2024 *Justin L. Brannan  Resolution and enforcement of property tax collection and preservation of housing for certain properties.IntroductionThe bill would increase the frequency by which the Department of Finance (DOF) must notify owners of real property of any and all real property tax liens they have, as well as inform owners on how to learn what liens the Department of Environmental Protection may have issued for nonpayment of sewer or water rents or sewer surcharges. The bill would prohibit the sale of tax liens on vacant land that has been determined undevelopable by a Mayor-determined agency. The bill would require the Department of Housing Preservation and Development (HPD) to conduct Housing Maintenance Code inspections of certain Class 2 multiple dwellings that have appeared on the tax lien sale list at least twice over a four-year period, and for DOF to provide a list of such properties to HPD before conducting a lien sale. The bill would authorize the DOF Commissioner to conduct a sale of tax liens through and including December 31, 2028, as well as make substantive reforms to the tax lien sale process. The bill codifies and expands various reporting requirements to the Council, including additional information about status and debts of properties whose liens have been sold to the various City created Trusts as well as various documents and agreements that govern the Trusts. The bill increases and fixes the property tax and interest deferral (PT AID) payment plan income threshold to match that of the Enhanced STAR threshold and increases how much property tax may be deferred under PT AID. The bill also creates a new type of PT AID payment plan that mirrors elements of the circuit breaker proposed by the Advisory Commission on Property Tax Reform whereby an owner who pays more than 10 percent of their income may defer the amount above that percentage, so long as the remaining payments are not less than $1,500 a year. The bill would establish an “Easy Exit” program, where owners of certain Class 1 properties and condominium units can request DOF remove their home from the tax lien sale up to three times within a 36-month period, as of right. The bill would allow owners of non-condo/co-op Class 1 properties in severe financial distress to, after consulting with an attorney, voluntarily partner with a Qualified Preservation Purchaser (QPP) whereby existing debt would be extinguished and title to the property will be transferred to the QPP. In turn, the QPP provides the property owner a long-term affordable lease which can be passed on to heirs and allows for the former homeowner to recoup any equity they held in the property. The bill establishes a 10-member task force of Mayoral and Council appointees to examine and devise ways delinquent City property tax could be collected fairly and effectively without the sale of tax liens.Approved by CommitteeFail Action details Not available
Res 0482-2024 *Justin L. Brannan PreconsideredCOMPUTING AND CERTIFYING ADJUSTED BASE PROPORTION OF EACH CLASS OF REAL PROPERTY FOR FISCAL 2025 TO THE STATE BOARD OF REAL PROPERTY TAX SERVICES.Resolution Hearing on P-C Item by Comm  Action details Not available
Res 0482-2024 *Justin L. Brannan  COMPUTING AND CERTIFYING ADJUSTED BASE PROPORTION OF EACH CLASS OF REAL PROPERTY FOR FISCAL 2025 TO THE STATE BOARD OF REAL PROPERTY TAX SERVICES.Resolution P-C Item Approved by CommPass Action details Not available
Res 0483-2024 *Justin L. Brannan PreconsideredCOMPUTING AND CERTIFYING BASE PERCENTAGE, CURRENT PERCENTAGE AND CURRENT BASE PROPORTION OF EACH CLASS OF REAL PROPERTY FOR FISCAL 2025 TO THE STATE BOARD OF REAL PROPERTY TAX SERVICES.Resolution Hearing on P-C Item by Comm  Action details Not available
Res 0483-2024 *Justin L. Brannan  COMPUTING AND CERTIFYING BASE PERCENTAGE, CURRENT PERCENTAGE AND CURRENT BASE PROPORTION OF EACH CLASS OF REAL PROPERTY FOR FISCAL 2025 TO THE STATE BOARD OF REAL PROPERTY TAX SERVICES.Resolution P-C Item Approved by CommPass Action details Not available
Res 0484-2024 *Justin L. Brannan PreconsideredApproving the new designation and changes in the designation of certain organizations to receive funding in the Expense Budget.Resolution Hearing Held by Committee  Action details Not available
Res 0484-2024 *Justin L. Brannan  Approving the new designation and changes in the designation of certain organizations to receive funding in the Expense Budget.Resolution P-C Item Approved by CommPass Action details Not available
Res 0485-2024 *Justin L. Brannan PreconsideredInterest rate be two and one half % per annum for FY'25 for certain properties for which the owner has entered into an installment payment agreement with the department of finance for payment of delinquent property taxes, assessments or other charges.Resolution Hearing on P-C Item by Comm  Action details Not available
Res 0485-2024 *Justin L. Brannan  Interest rate be two and one half % per annum for FY'25 for certain properties for which the owner has entered into an installment payment agreement with the department of finance for payment of delinquent property taxes, assessments or other charges.Resolution P-C Item Approved by CommPass Action details Not available
Res 0486-2024 *Justin L. Brannan PreconsideredInterest rate be 9% per annum for FY'25 for non-payment of taxes on properties with an assessed value of more than $250,000 but less than or equal to $450,000, or more than $250,000 but less than or equal to $450,000 per residential unit.Resolution Hearing on P-C Item by Comm  Action details Not available
Res 0486-2024 *Justin L. Brannan  Interest rate be 9% per annum for FY'25 for non-payment of taxes on properties with an assessed value of more than $250,000 but less than or equal to $450,000, or more than $250,000 but less than or equal to $450,000 per residential unit.Resolution P-C Item Approved by CommPass Action details Not available
Res 0487-2024 *Justin L. Brannan PreconsideredInterest rate be 6% per annum for FY'25 for non-payment of taxes on properties with an assessed value of not more than $250,000, or not more than $250,000 per residential unit for cooperative apartments.Resolution Hearing on P-C Item by Comm  Action details Not available
Res 0487-2024 *Justin L. Brannan  Interest rate be 6% per annum for FY'25 for non-payment of taxes on properties with an assessed value of not more than $250,000, or not more than $250,000 per residential unit for cooperative apartments.Resolution P-C Item Approved by CommPass Action details Not available
Res 0488-2024 *Justin L. Brannan PreconsideredInterest rate be 16% per annum for FY'25 for non-payment of taxes on properties with an assessed value of more than $450,000, or more than $450,000 per residential unit for cooperative apartments.Resolution Hearing on P-C Item by Comm  Action details Not available
Res 0488-2024 *Justin L. Brannan  Interest rate be 16% per annum for FY'25 for non-payment of taxes on properties with an assessed value of more than $450,000, or more than $450,000 per residential unit for cooperative apartments.Resolution P-C Item Approved by CommPass Action details Not available
M 0042-2024 *   Submitting the Expense Revenue Contract Budget, for Fiscal Year 2025.Mayor's Message Hearing Held by Committee  Action details Not available
M 0042-2024 *   Submitting the Expense Revenue Contract Budget, for Fiscal Year 2025.Mayor's Message Approved by CommitteePass Action details Not available
Res 0489-2024 *Justin L. Brannan PreconsideredM 42 - EXECUTIVE EXPENSE CONTRACT REVENUE BUDGET FOR FY 2025, AS MODIFIED: RESOLUTION TO PROVIDE THE AMOUNTS NECESSARY FOR THE SUPPORT OF THE GOVERNMENT OF NYC AND FOR THE PAYMENT OF DEBTS, THEREOF.Resolution Hearing on P-C Item by Comm  Action details Not available
Res 0489-2024 *Justin L. Brannan  M 42 - EXECUTIVE EXPENSE CONTRACT REVENUE BUDGET FOR FY 2025, AS MODIFIED: RESOLUTION TO PROVIDE THE AMOUNTS NECESSARY FOR THE SUPPORT OF THE GOVERNMENT OF NYC AND FOR THE PAYMENT OF DEBTS, THEREOF.Resolution P-C Item Approved by CommPass Action details Not available
Res 0490-2024 *Justin L. Brannan PreconsideredM 42 – EXECUTIVE EXPENSE CONTRACT REVENUE BUDGET FOR FY 2025, AS MODIFIED: RESOLUTION TO ADOPT A CONTRACT BUDGET.Resolution Hearing on P-C Item by Comm  Action details Not available
Res 0490-2024 *Justin L. Brannan  M 42 – EXECUTIVE EXPENSE CONTRACT REVENUE BUDGET FOR FY 2025, AS MODIFIED: RESOLUTION TO ADOPT A CONTRACT BUDGET.Resolution P-C Item Approved by CommPass Action details Not available
M 0043-2024 *   Submitting the Executive Capital Budget for Fiscal Year 2025.Mayor's Message Hearing Held by Committee  Action details Not available
M 0043-2024 *   Submitting the Executive Capital Budget for Fiscal Year 2025.Mayor's Message Approved by CommitteePass Action details Not available
Res 0491-2024 *Justin L. Brannan  M 43 - EXECUTIVE CAPITAL BUDGET FOR FY'25 AND CAPITAL PROGRAM FOR THE ENSUING THREE YEARS, AS MODIFIED (RESOLUTION A)Resolution Hearing Held by Committee  Action details Not available
Res 0491-2024 *Justin L. Brannan  M 43 - EXECUTIVE CAPITAL BUDGET FOR FY'25 AND CAPITAL PROGRAM FOR THE ENSUING THREE YEARS, AS MODIFIED (RESOLUTION A)Resolution Approved by CommitteePass Action details Not available
Res 0492-2024 *Justin L. Brannan  M 43 – EXECUTIVE CAPITAL BUDGET FOR FY'25 AND CAPITAL PROGRAM FOR THE ENSUING THREE YEARS, AS MODIFIED (RESOLUTION B).Resolution Hearing on P-C Item by Comm  Action details Not available
Res 0492-2024 *Justin L. Brannan  M 43 – EXECUTIVE CAPITAL BUDGET FOR FY'25 AND CAPITAL PROGRAM FOR THE ENSUING THREE YEARS, AS MODIFIED (RESOLUTION B).Resolution P-C Item Approved by CommPass Action details Not available
M 0047-2024 *   Submitting the Proposed City Fiscal Year 2025 Community Development Program.Mayor's Message Hearing Held by Committee  Action details Not available
M 0047-2024 *   Submitting the Proposed City Fiscal Year 2025 Community Development Program.Mayor's Message Approved by CommitteePass Action details Not available
Res 0493-2024 *Justin L. Brannan  M 47 - Approving The City Fiscal Year 2025 Community Development Program, Reallocation of Fiftieth Year Community Development Funds, and the Proposed Fifty-First Year Community Development Program.Resolution Hearing on P-C Item by Comm  Action details Not available
Res 0493-2024 *Justin L. Brannan  M 47 - Approving The City Fiscal Year 2025 Community Development Program, Reallocation of Fiftieth Year Community Development Funds, and the Proposed Fifty-First Year Community Development Program.Resolution P-C Item Approved by CommPass Action details Not available
M 0055-2024 *  PreconsideredTransfer City funds between various agencies in Fiscal Year 2024 to implement changes to the City's expense budget, pursuant to Section 107(b) of the New York City Charter. (MN-7)Communication Hearing on P-C Item by Comm  Action details Not available
M 0055-2024 *   Transfer City funds between various agencies in Fiscal Year 2024 to implement changes to the City's expense budget, pursuant to Section 107(b) of the New York City Charter. (MN-7)Communication P-C Item Approved by CommPass Action details Not available
Res 0494-2024 *Justin L. Brannan PreconsideredM 55 - APPROVING THE MODIFICATION (MN-7) OF UNITS OF APPROPRIATION AND THE TRANSFER OF CITY FUNDS BETWEEN AGENCIES PROPOSED BY THE MAYOR PURSUANT TO SECTION 107(b) OF THE NEW YORK CITY CHARTER.Resolution Hearing on P-C Item by Comm  Action details Not available
Res 0494-2024 *Justin L. Brannan  M 55 - APPROVING THE MODIFICATION (MN-7) OF UNITS OF APPROPRIATION AND THE TRANSFER OF CITY FUNDS BETWEEN AGENCIES PROPOSED BY THE MAYOR PURSUANT TO SECTION 107(b) OF THE NEW YORK CITY CHARTER.Resolution P-C Item Approved by CommPass Action details Not available
M 0056-2024 *  PreconsideredAppropriation of new City revenues in fiscal year 2024 in the amount of $372.2 million, pursuant to Section 107(e) of the New York City Charter. (MN-8)Communication Hearing on P-C Item by Comm  Action details Not available
M 0056-2024 *   Appropriation of new City revenues in fiscal year 2024 in the amount of $372.2 million, pursuant to Section 107(e) of the New York City Charter. (MN-8)Communication P-C Item Approved by CommPass Action details Not available
Res 0495-2024 *Justin L. Brannan PreconsideredM 56 - APPROVING A MODIFICATION (MN-8) PURSUANT TO SECTION 107(e) OF THE CHARTER OF THE CITY OF NEW YORK.Resolution Hearing on P-C Item by Comm  Action details Not available
Res 0495-2024 *Justin L. Brannan  M 56 - APPROVING A MODIFICATION (MN-8) PURSUANT TO SECTION 107(e) OF THE CHARTER OF THE CITY OF NEW YORK.Resolution P-C Item Approved by CommPass Action details Not available
M 0057-2024 *  PreconsideredReport of the Committee on Finance in favor of approving a resolution of the Council of the City of New York fixing the tax rate for the Fiscal Year 2025, adopted June 30, 2024 upon the recommendation of the Committee on Finance of the Council.Communication Hearing on P-C Item by Comm  Action details Not available
M 0057-2024 *   Report of the Committee on Finance in favor of approving a resolution of the Council of the City of New York fixing the tax rate for the Fiscal Year 2025, adopted June 30, 2024 upon the recommendation of the Committee on Finance of the Council.Communication P-C Item Approved by CommPass Action details Not available
Res 0496-2024 *  PreconsideredM __ - PROVIDE THE AMOUNTS NECESSARY FOR THE SUPPORT OF THE GOVERNMENT OF THE CITY OF NEW YORK AND THE COUNTIES THEREIN AND FOR THE PAYMENT OF INDEBTEDNESS THEREOF, FOR THE FISCAL YEAR BEGINNING ON JULY 1, 2024 AND ENDING ON JUNE 30, 2025.Resolution Hearing on P-C Item by Comm  Action details Not available
Res 0496-2024 *   M __ - PROVIDE THE AMOUNTS NECESSARY FOR THE SUPPORT OF THE GOVERNMENT OF THE CITY OF NEW YORK AND THE COUNTIES THEREIN AND FOR THE PAYMENT OF INDEBTEDNESS THEREOF, FOR THE FISCAL YEAR BEGINNING ON JULY 1, 2024 AND ENDING ON JUNE 30, 2025.Resolution P-C Item Approved by CommPass Action details Not available
M 0014-2024 *  TO BE FILEDSubmitting Preliminary Expense, Revenue, and Contract Budget for Fiscal Year 2025.Mayor's Message Hearing Held by Committee  Action details Not available
M 0014-2024 *   Submitting Preliminary Expense, Revenue, and Contract Budget for Fiscal Year 2025.Mayor's Message Filed by CommitteePass Action details Not available
M 0015-2024 *  TO BE FILEDSubmitting January 2024 Financial Plan Detail for Fiscal Years 2024-2028.Mayor's Message Hearing Held by Committee  Action details Not available
M 0015-2024 *   Submitting January 2024 Financial Plan Detail for Fiscal Years 2024-2028.Mayor's Message Filed by CommitteePass Action details Not available
M 0016-2024 *  TO BE FILEDSubmitting Geographic Reports for Expense Budget for Fiscal Year 2025.Mayor's Message Hearing Held by Committee  Action details Not available
M 0016-2024 *   Submitting Geographic Reports for Expense Budget for Fiscal Year 2025.Mayor's Message Filed by CommitteePass Action details Not available
M 0017-2024 *  TO BE FILEDSubmitting Departmental Estimates for Fiscal Year 2025.Mayor's Message Hearing Held by Committee  Action details Not available
M 0017-2024 *   Submitting Departmental Estimates for Fiscal Year 2025.Mayor's Message Filed by CommitteePass Action details Not available
M 0018-2024 *  TO BE FILEDSubmitting the Preliminary Capital Budget, Fiscal Year 2025.Mayor's Message Hearing Held by Committee  Action details Not available
M 0018-2024 *   Submitting the Preliminary Capital Budget, Fiscal Year 2025.Mayor's Message Filed by CommitteePass Action details Not available
M 0019-2024 *  TO BE FILEDSubmitting the Preliminary Capital Commitment Plan, Fiscal Year 2025, Volumes 1, 2, 3, & 4.Mayor's Message Hearing Held by Committee  Action details Not available
M 0019-2024 *   Submitting the Preliminary Capital Commitment Plan, Fiscal Year 2025, Volumes 1, 2, 3, & 4.Mayor's Message Filed by CommitteePass Action details Not available
M 0044-2024 *  TO BE FILEDSubmitting the Executive Budget Supporting Schedules, for Fiscal Year 2025.Mayor's Message Hearing Held by Committee  Action details Not available
M 0044-2024 *   Submitting the Executive Budget Supporting Schedules, for Fiscal Year 2025.Mayor's Message Filed by CommitteePass Action details Not available
M 0045-2024 *  TO BE FILEDSubmitting the Capital Commitment Plan, Executive Budget, Fiscal Year 2025, Volumes 1, 2, 3 and 4.Mayor's Message Hearing Held by Committee  Action details Not available
M 0045-2024 *   Submitting the Capital Commitment Plan, Executive Budget, Fiscal Year 2025, Volumes 1, 2, 3 and 4.Mayor's Message Filed by CommitteePass Action details Not available
M 0046-2024 *  TO BE FILEDSubmitting the Budget Summary, the Message of the Mayor, and the Program to Eliminate the Gap relative to the Executive Budget, Fiscal Year 2025.Mayor's Message Hearing Held by Committee  Action details Not available
M 0046-2024 *   Submitting the Budget Summary, the Message of the Mayor, and the Program to Eliminate the Gap relative to the Executive Budget, Fiscal Year 2025.Mayor's Message Filed by CommitteePass Action details Not available
M 0049-2024 *  TO BE FILEDNYC Banking Commission - Transmitting recommendations of the interest rate to be charged for Fiscal Year 2025.Communication Hearing Held by Committee  Action details Not available
M 0049-2024 *   NYC Banking Commission - Transmitting recommendations of the interest rate to be charged for Fiscal Year 2025.Communication Filed by CommitteePass Action details Not available