New York Board Continues Quest to Calculate Value of Future Tax Savings

At its December 2024, quarterly meeting (the “Meeting”), the NYS Public Subsidy Board (the “Board”) continued its May 20, 2024, public hearing on calculating the value of future tax savings, such as tax abatements, tax credits, tax exemptions, payments in lieu of taxes or any savings realized from the involvement of a public entity. Projects which receive public funding, including tax savings, in excess of 30% of the total construction cost are “covered” for purposes of New York Labor Law §...
By: Harris Beach PLLC

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