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Senate bill · S1462 (2025-26)

Relates to establishing ground rent rebates for eligible homeowners and renters in the Battery Park project area

PassedLatest action Jun 2, 2026

New York State Senate

Same as A4537, the matching bill in the Assembly.

Sponsor

Brian Kavanagh

State Senator, District 27 · Democratic

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Summary

Relates to establishing ground rent rebates for eligible homeowners and renters in the Battery Park project area; provides for a rebate program; provides for a process for application and certification.

Summary from NY Open Legislation. How we handle summaries

Amends the Public Authorities Law.

From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 21, 2026. About our data

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Purpose, from the sponsor's memo

This bill is intended to promote housing affordability and stability for income-eligible homeowners and renters whose primary residences are located in the Battery Park City neighborhood in Lower Manhattan.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Where it stands

Passed the legislature and is awaiting a signature.

  1. Introduced
  2. In committee
  3. Up for a vote
  4. Passed one chamber
  5. Passed
  6. Enacted

Committee

Corporations, Authorities and Commissions · New York State Assembly

Also referred to Corporations, Authorities And Commissions · New York State Senate, Ways and Means · New York State Assembly.

Cosponsors

Deborah Glick and Grace Lee

Showing the cosponsors who are on Agora, A to Z. The official record may list more.

Read on NY Senate (opens in a new tab)
  • Democratic2

Shown in neutral colors by design; Agora is non-partisan.

The sponsor's argument

Why Brian Kavanagh says this is needed

Located in Lower Manhattan on the West Side, Battery Park City (BPC) is a dense, mixed residential and commercial neighborhood. Over time, rapid escalation of property values in the area have made it increasingly difficult for many residents to continue to afford to live there, espe- cially low-, moderate-, and middle-income residents who first moved to BPC when the neighborhood was affordable and who helped build BPC into the community it is today. This legislation will promote the housing stability and affordability for income-eligible primary residents who own or rent their home in BPC. Like most property leases, ground rent in Battery Park City increases over time. The initial ground lease agreements included provisions that reset a building's ground rent to the BPCA at a new amount that is calculated at 6% of the property's fair market value at the time of the reset. Under the provisions of the initial agreements, the reset would happen every 15 years. While there are ongoing efforts to renegotiate the provisions of various buildings' ground leases, there is a need to ensure that low-, moderate, and middle-income homeowners and renters have effective protections from unaffordable increases that might continue to be generally applicable to their buildings. To ensure that long-time BPC residents who have contributed to the flourishing of the neighborhood can afford to remain in their homes, this bill would freeze the ground rent obligations for primary resident homeowners who have an annual income at or below 150% of area median income. For renters, this bill would freeze the portion of a renter's rent payment attributable to ground rent for primary resident renters who live in designated quasi- rent stabilized units or have restrictions on annual rent increases under a regulatory agreement. Any amount above the frozen ground rent would be credited back to qualifying homeowners and renters via a rebate.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Recorded votes

  • Vote: Floor vote

    NY SenateJun 1, 2026Result: passed

    (38) (22) (0) (3)

  • Vote: Floor vote

    NY SenateApr 1, 2026Result: passed

    (38) (22) (0) (3)

  • Vote: Committee vote · Corporations, Authorities And Commissions

    Senate Corporations, Authorities And CommissionsMar 24, 2026Result: passed

    (5) (2) (0) (0)

  • Vote: Floor vote

    NY SenateMay 28, 2025Result: passed

    (40) (21) (0) (2)

  • Vote: Committee vote · Corporations, Authorities And Commissions

    Senate Corporations, Authorities And CommissionsMay 20, 2025Result: passed

    (5) (1) (0) (1)

Full history

  1. Jun 2, 2026

    Ordered to Third Reading Rules CAL.334

    ORDERED TO THIRD READING RULES CAL.334

    NY Assembly

  2. Jun 2, 2026

    Passed a chamber

    PASSED ASSEMBLY

    NY Assembly

  3. Jun 2, 2026

    Reported out of committee

    REPORTED

    NY Assembly

  4. Jun 2, 2026

    Substituted

    SUBSTITUTED FOR A4537A

    NY Assembly

  5. Jun 1, 2026

    Referred to committee

    REFERRED TO WAYS AND MEANS

    NY Assembly

Show full history (25 earlier events)
  1. Jun 1, 2026

    Passed a chamber

    REPASSED SENATE

    NY Senate

  2. Jun 1, 2026

    Reported out of committee

    REPORTED REFERRED TO RULES

    NY Assembly

  3. Jun 1, 2026

    Returned to Assembly

    RETURNED TO ASSEMBLY

    NY Senate

  4. May 29, 2026

    Reference Changed to Ways and Means

    REFERENCE CHANGED TO WAYS AND MEANS

    NY Assembly

  5. May 26, 2026

    Amended

    AMENDED ON THIRD READING 1462A

    NY Senate

  6. May 26, 2026

    Recalled From Assembly

    RECALLED FROM ASSEMBLY

    NY Senate

  7. May 26, 2026

    Returned to Senate

    RETURNED TO SENATE

    NY Assembly

  8. May 20, 2026

    Amend and Recommit to Corporations, Authorities and Commissions

    AMEND AND RECOMMIT TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

    NY Assembly

  9. Apr 1, 2026

    Sent to the executive

    DELIVERED TO ASSEMBLY

    NY Senate

  10. Apr 1, 2026

    Passed a chamber

    PASSED SENATE

    NY Senate

  11. Apr 1, 2026

    Referred to committee

    REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

    NY Assembly

  12. Mar 26, 2026

    Advanced to Third Reading

    ADVANCED TO THIRD READING

    NY Senate

  13. Mar 25, 2026

    2ND Report CAL.

    2ND REPORT CAL.

    NY Senate

  14. Mar 24, 2026

    1ST Report CAL.583

    1ST REPORT CAL.583

    NY Senate

  15. Jan 7, 2026

    Died in Assembly

    DIED IN ASSEMBLY

    NY Assembly

  16. Jan 7, 2026

    Referred to committee

    REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

    NY Senate

  17. Jan 7, 2026

    Referred to committee

    REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

    NY Assembly

  18. May 28, 2025

    Sent to the executive

    DELIVERED TO ASSEMBLY

    NY Senate

  19. May 28, 2025

    Passed a chamber

    PASSED SENATE

    NY Senate

  20. May 28, 2025

    Referred to committee

    REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

    NY Assembly

  21. May 22, 2025

    Advanced to Third Reading

    ADVANCED TO THIRD READING

    NY Senate

  22. May 21, 2025

    2ND Report CAL.

    2ND REPORT CAL.

    NY Senate

  23. May 20, 2025

    1ST Report CAL.1182

    1ST REPORT CAL.1182

    NY Senate

  24. Feb 4, 2025

    Referred to committee

    REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

    NY Assembly

  25. Jan 10, 2025

    Referred to committee

    REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

    NY Senate