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Committee advances bill to create ground-rent rebates for Battery Park City residents
Summary
The Committee on Corporations, Authorities and Commissions moved Senate Bill 1462 to the Senate floor on March 24, 2026. The measure would amend the Public Authorities Law to create ground-rent rebates for eligible homeowners and renters in the Battery Park City project area to promote housing stability.
The committee moved Senate Bill 1462 to the floor after its introduction on March 24. The committee clerk read the bill as "an act to amend the Public Authorities Law in relation to establishing ground rent rebates for eligible homeowners and renters in the Battery Park project area." The chair described the bill as promoting housing stability in the Battery Park City neighborhood.
Committee members moved and seconded the bill and, after the chair called for the ayes, the measure was recorded as passed and will be reported to the Senate floor. The transcript records the chair saying the committee had "enough votes to pass this bill and report it to the floor," but does not include a numerical roll-call tally or the names of members who voted in favor or opposed.
The bill would amend provisions of the Public Authorities Law to authorize rebates for ground rent to eligible homeowners and renters in the Battery Park City project area. The transcript contains no details about rebate amounts, eligibility thresholds, administrative steps, or an implementation timetable; those details were not specified in the committee reading.
The committee concluded consideration of S1462 and advanced it to the floor for further action.
