A Local Law to amend the administrative code of the city of New York, in relation to the registration requirements and the datasets for ground floor or second floor commercial premises

Summary

This bill would amend the commercial property vacancy registry law. It would require that supplemental registration statements be filed by August 15 (for the period from January 1 through June 30), and February 15 (for the period from July 1 through December 31) each year, rather than s single filing on June 30 under current law. Supplemental registration statements would be required for any property that is vacant at the end of a given reporting period. It would also require that the Department of Finance release this supplemental registration statement data within 60 days of the reporting deadline, compared with six months under current law. This is intended to increase the frequency and timeliness of reported data on commercial vacancies in the City.

Official summary of legislation · NYC Council